JobWatch Summary

February 2nd, 2011

Key Takeaway: Mississippi has experienced 5 consecutive months of slow job growth from July to December 2010 with a total increase of 10,800 jobs.

Trends in Overall Job Numbers: For many months, state economists have predicted slow, subtle job growth as Mississippi and the nation’s economy enters a period of recovery. The most recent jobs data from the Bureau of Labor Statistics reflects this trend. From a low in July 2010, Mississippi has added 10,800 jobs. The state still had 68,400 fewer jobs in December than in February 2008, the month when Mississippi’s employment peaked.

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Mississippi Unemployment Rate: Five months of job growth has led to a decrease in the state’s unemployment rate over the same period. From July to December 2010, Mississippi’s unemployment rate fell from 10.8 percent to 10.1 percent. The unemployment rate peaked in March of 2010 at a rate of 11.6 percent. As the economy recovers and more adults again start to look for work, Mississippi will need jobs for adults newly seeking employment on top of the jobs needed for those that are currently in the job market and looking for work.

Industry Trends: The most recent information from Mississippi’s IHL Research Center reveals that among Mississippi industries, professional & business services and leisure & hospitality experienced the largest growth while government employment, and local government, employment, in particular, is falling. IHL attributes the local government job loss in part to persistently low revenues from sales and property taxes, both of which have been especially affected by recession. The contrast between job gains in private employment and job loss in public employment may continue across Mississippi as state and local governments struggle to adequately fund programs and keep staff in the wake of continued financial hardship.

Source:

Economic Policy Institute. December 2010 JobWatch Data.

Author:

Sarah Welker, Policy Analyst