It’s hard to think about the holidays when it still feels like summer, but one economist suggests getting in the holiday mode asap unless you want to hear Bah humbug this year. Brooke Thorington explains.
Cut 1 (30) “…I’m Brooke Thorington.”
______________________________________
There will be more money in the pockets of Social Security recipients come next year. More from Dave Brannen.
______________________________________
There’s cautious optimism as the sugarcane harvest ramps up in south Louisiana. LSU AgCenter sugarcane specialist Kenneth Gravois says the harvest is getting off to a soggy start as many fields are muddy as a result of a wet 2021
2020 was a stellar year for the industry as the American Sugar Cane League estimates 463-thousand acres of cane were harvested, with an average of 85-hundred pounds of sugar produced per acre. Gravois expects the tonnage will be off this year because of a damp growing season…
Cooler and drier weather will enter the Bayou State this weekend and Gravois says it comes at a good time as there’s still a good chance for producers to make money off this crop…
__________________________________
Shipping delays have been an ongoing issue for businesses due to the pandemic but with the holiday season just over two months away Economist Loren Scott says if you’re a last-minute shopper you really could end up being the Grinch this year.
While Scott says he doesn’t see shelves being completely empty for retailers, he does however anticipate a problem if you are looking for a specific gift. So, parents might want to have their kids fill out their wish list from Santa sooner than later.
In the past retailers have saved money by ordering “just in time inventory,” which meant goods were brought in when they were absolutely needed. But with shipping delays and a backlog at ports, Scott says many retailers might adjust their business model.
_____________________________________
Social Security benefits will increase by 5.9 percent with the Cost-of-Living adjustment announced today by the agency. Troy Broussard with AARP in Louisiana says it marks the largest increase in four decades.
Cut 9 (10) “…prescription drug costs”
The increase takes effect in January, with benefit payments to reflect a 5.9 percent hike in the current benefit being paid out to each recipient.
Broussard says the COLA increase in Social Security benefits is something that will be welcomed by those who solely rely on SSI payments and those who don’t.
Cut 10 (10) “…here in Louisiana”
Broussard praises Social Security for realizing the need for such a significant increase in monthly benefits.
_________________________
A new COVID variant has been detected in the state. Dr. Krista Queen, Director of Viral Genomics and Surveillance at LSU Health Shreveport says they discovered the B 1.630 variant in samples from the Baton Rouge area which has mutations they are observing.
Cut 12 (11) “….low percentage.”
At this point, the B 1.630 variant has not been found in large enough quantities to be given Greek letter moniker and Queen says it’s still too early to tell if the vaccines might need to be tweaked for this particular variant.
Queen says this is not the first time this variant has been sequenced, but it is a first for Louisiana. She says less than 100 cases of the B 1.630 variant have been detected in the U-S so far.
Queen says they sequence samples of the virus regularly from across the state.