A study released last week ranked all 50 states based on levels of financial peril — Louisiana ranked 20th. But compared to states like California, which tops the fiscal peril list, the Pelican State is fairing well. The Pew Center on the States conducted the study, which looked at factors like state unemployment, revenue change and foreclosure rates. Doug Weimer, economics instructor, said the oil and gas industries have done well during the recession. Many of those companies are located in Louisiana and along the Gulf Coast. Weimer also said construction jobs after Hurricane Katrina in 2005 boosted Louisiana’s economy and continue to do so. “This is one of those times where the bad news of Katrina has turned into the good news of the recession,” he said. Job growth after Hurricane Gustav in 2008 also had a positive effect on Louisiana’s economy, Weimer said. “That tends to be offsetting some of the general problems of the recession,” he said. Louisiana’s revenue has decreased by 8.8 percent from the first quarter of 2008 to the first quarter of 2009, according to the study. California’s revenue has decreased by 16.2 percent during the same time period. Pew’s study, entitled “Beyond California: States in Fiscal Peril,” also looked at foreclosure rates. California’s is 2.02 percent for the first quarter of 2009, while Louisiana’s is 0.86 percent. Weimer said the housing market, along with other factors, can significantly impact the overall economy, which it has. Louisiana is tied with Oklahoma in the study. Louisiana state officials are wrestling with a $3 billion state budget shortfall expected for the next two years. The Commission on Streamlining Government is looking for ways the state can handle the blow. Weimer said while signs of an improving economy may pop up soon, Louisiana residents won’t likely notice the difference until the unemployment improves.As of September, the state’s unemployment rate was 7.4 percent, according to the U.S. Bureau of Labor Statistics. California’s unemployment rate was 12 percent in September.—–Contact Kyle Bove at [email protected]