MISSISSIPPI JOB WATCH, October 2010

November 30th, 2010

Mississippi’s unemployment rate improved slightly to 9.7% from September to October 2010. From September to October, Mississippi’s total nonfarm employment grew by 1,300 jobs. The modest increase in jobs last month is positive for the state’s overall employment situation, but significantly larger gains in employment will be necessary for Mississippi to reach pre-recession levels of employment. Taking a broader look at Mississippi’s overall employment, 70,100 fewer jobs exist in Mississippi than before the recession, and the state has lost 6.1% of the jobs that existed at the end of 2007.

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The manufacturing and construction sectors continue to experience job loss even 34 months since the recession’s start in December 2007. According to the Bureau of Labor Statistics, October brought a loss of an additional 900 manufacturing and 1,300 construction jobs. Overall, manufacturing employment in the state has fallen by 19.1%. Construction employment has fallen even more drastically, and the industry now employs 16,200 fewer persons than in December 2007 (see table for more).

As of October 2010, Mississippi had 70,100 fewer jobs in the state than when the recession began. The figure below shows monthly changes in employment as well as the cumulative effect of monthly job changes over the 34 months since the recession began. Since August 2010 the state has experienced a modest increase in the number of jobs available. July 2010 marked the low point of available jobs in Mississippi with a cumulative loss of 77,800 jobs.

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State economists project it will be 2015 before Mississippi has the same number of people employed as it did in 2000. The job loss associated with the current recession has been longer and more pronounced than previous recessions. The depth and persistence of job loss across the state continue to impact the well-being and economic security of thousands of working families across Mississippi.

Source:

Economic Polity Institute analysis of Bureau of Labor Statistics data

Author:

Sarah Welker, Policy Analyst