Economy in New Orleans, Louisiana

New Orleans' unique culture and history have positioned it as a premier tourist destination in the US that brings in throngs of visitors each year. Other components of the local economy include shipping, maritime trades, energy production and finance. Additionally, through Tax Increment Financing (TIF) the city has invested heavily in redeveloping its downtown area with a focus on creating new employment opportunities while nurturing existing businesses providing much needed stability to an ever-evolving economy.

New Orleans has an unemployment rate of 11.0%. The US average is 6.0%.

New Orleans has seen the job market increase by 1.4% over the last year. Future job growth over the next ten years is predicted to be 25.1%, which is lower than the US average of 33.5%.

Tax Rates for New Orleans
- The Sales Tax Rate for New Orleans is 9.5%. The US average is 7.3%.
- The Income Tax Rate for New Orleans is 6.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.

Income and Salaries for New Orleans
- The average income of a New Orleans resident is $27,255 a year. The US average is $28,555 a year.
- The Median household income of a New Orleans resident is $36,964 a year. The US average is $53,482 a year.