Yesterday, St. Tammany Corporation released their Q3 edition of their digital research publication, The AnalyST, presented as a Quarterly Economic Trends Report.
The AnalyST is a curated collection of economic indicators designed to interpret regional and national economies and the interconnectivity with St. Tammany Parish. This publication highlights essential economic indicators and trends impacting St. Tammany, with insights into interest rates, employment, inflation, housing stability, consumer spending, and workforce participation. Key research insights from this publication, led by the economic development and strategic planning consultancy group Economic Leadership, LLC, cover a range of topics including inflation, the labor market, residential real estate, and other industry-specific information taking place in St. Tammany.
Key insights from this report include: Entrepreneurship in the parish continues to be strong, and new business formation levels remain elevated. St. Tammany has added more business than businesses have closed each year from 2019 to 2022; Inflation is hovering just above the two percent year-over-year target. The price of some goods, like used cars and gasoline, have even fallen in the last year. Prices for some essential goods like housing, food away from home, energy bills, and childcare remain higher than normal; And wage growth rates in the region are moderating back to pre-pandemic levels. This means workers should be increasing their earnings at rates higher than the rise in prices. This stabilization also helps moderate employer’s costs.
St. Tammany Corporation CEO Chris Masingill said as economic stewards, they will continue to use this data to stay informed of important economic trends and to help guide strategies that enhance the local economy.
This edition of The AnalyST can be accessed at St. Tammany Corporation’s website, https://sttammanycorp.org/the-analyst.
