BATON ROUGE, La. (BRPROUD) Louisiana’s economy has taken a hard hit due to the Covid-19 pandemic. The Louisiana Economic Recovery Task Force is working to help the problem before it gets worse.
There are new concerns that the state unemployment trust fund could be gone by September.
“If we wait until mid September and we couldn’t pay those who are unemployed we would have a tremendous problem,” Chairman Jason Decuir said.
Decuir said many are not feeling the pressure yet because of stimulus checks and extra money from unemployment.
“My concern is when the federal Government turns that spigot off unemployment.. now you’re stuck with people on unemployment who don’t have the same stimulus plus you have businesses close down and those not having a place to go for employment that is what could really be a major challenge,” Decuir said.
Decuir is predicting the devastation we are seeing right now is worse than the economic impact of Hurricane Katrina and the recession of the late 2000’s.
“The real unfortunate thing, as we were highlighting, is that they a lot of people are looking to get employed and their place of business may not exist anymore,” Decuir said.
Decuir says now is the time for lawmakers to re-evaluate the structure of Louisiana’s economy so it can come back stronger than ever.