Louisiana flooding latest news - People loss and economy damages
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Louisiana floods latest news
The next blow to hit Louisiana after the flood waters recede could be residents deciding they have no choice but to leave.
Volunteers who are helping the tens of thousands of people who have lost homes to flooding say few people have said they are definitely leaving the state. But it is a topic of discussion among many people.
The Louisiana flooding victims are still in shock. But they're in a holding pattern until they see what help might be available.
When a state loses population, it's a further drag on its economy, cutting into amount of money spent at its businesses or the taxes that can be collected to support needed government services. Moreover, many small businesses have to close because of flooding. And these businesses may not be able to reopen. And this Louisiana flood also leads to job loss in the oil industry.
The population of Louisiana tumbled 6% in the year after hurricanes Katrina and Rita battered the area in 2005, and it took more than five years for the population to climb back to pre-storm levels.
It's unlikely Louisiana will face an exodus on that scale this year. Flood victims have not been sent to out-of-shelters like they were following the 2005 catastrophes. But the economy of Louisiana was stronger going into the 2005 storms, leaving some worried that some flood victims will be forced to move elsewhere this time. You can also check out for more natural disaster facts.
Part of the problem this time that could send people out of state is a shortage of available housing. The Baton Rouge housing market was already very tight before the storm, said Ginger Maulden, president-elect of the Greater Baton Rouge Association of Realtors. That housing crunch is going to get worse, she said. More than 60,000 homes are believed to have been damaged by flooding.
Right now people are living with family members, trying to assess what has happened. Rebuilding will be hard for a lot of people. And the fact is that there are not many people who have flood insurance.
Louisiana already has the fourth highest unemployment rate in the nation at 6.3%. It has lost 2,000 oil and gas drilling jobs in the last two years.
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