Louisiana still ranks among the poorest states in the nation and median household income is barely moving. The Census Bureau reports average median incomes nationwide now at $50,000 a year, down for the second straight year. In Louisiana, it's just shy of $42,000 annually per household.
While there are encouraging signs for the future, LSU economist Jim Richardson says we will continue to rank among the poorest states for sometime.
''This is something that takes a 30 year project almost, to really improve ourselves substantially, relative to some of the other states in the country either on the east or west coast,'' Richardson said.
Louisiana is 7th from the bottom in average income, and the report shows other deep south states and New Mexico with lower average incomes. Overall, the economic recovery has been sluggish, said Richardson.
''Right now there's no indication we're going to move out of this lethargic recovery it's going to remain rather lackluster for the next several years,'' said Richardson.
While incomes in states like Maryland show averages of over $70,000 a year, he says you can't forget the tremendous prices for housing in those areas of the northeast.