A recent Money Magazine ranking of New Orleans quality of life placed it at a 57, with the national average far below at 19.42, pointing out that New Orleans is one of the best places to live in the United States. According to statistics, high school graduates make up 74.7% of persons over 25 years of age in New Orleans. 25.8% of the population has a bachelor's degree or higher. The student/teacher ratio is 15.7, above the national average of 16.95, and there are 10 four-year colleges, significantly above the national average of 4.03.
Medical services show strong numbers as well, with 7,287 hospital beds in New Orleans, and 57 medical doctors per 10,000 persons, which is well above the national average of 28.2, ranking New Orleans above most of the nation in available medical services and providing a strong medical employment sector.
With a population of 1,337,726, New Orleans has a strong work force, and the unemployment rate is 5.4% based on government figures from 2002.
The restaurant sector is another strong area of the economy, as New Orleans is home to some of the best restaurants in the world. Many people are employed at the 3,068 local restaurants in various capacities, and the revenues generated contribute greatly to the New Orleans economy.
Retail sales is another major local employer, and revenues (based on the 1997 Census) stand at 2,771,305,000. Retail sales per capita for 1997 were $5,908.
Of course, New Orleans is a world-renowned tourist attraction, particularly for its famed Mardi Gras celebration, which drew some 6,135,890 people to New Orleans last year. Nearly a million tourists booked hotel rooms (there are 33,022 hotel rooms total), filled taxis (there are 1,600), rented cars (served by 12 car rental agencies with a total fleet of 9,000), and ate at the 3,068 restaurants. This seasonal spending alone contributed a staggering total of $1,056,124,885 to the New Orleans economy, making it one of the biggest boons to the area economically.
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