Mississippi’s Economy Continues to Struggle to Post Substantial Job Gains: State Unemployment Rate is 10th Highest Nationally
August 6th, 2012
Figures released last week from the Bureau of Labor Statistics show that the United States added 184,000 jobs in July of 2012. While the nation’s employment grew, the unemployment rate remained unchanged at 8.2%.
Mississippi’s unemployment rate in June 2012 of 8.8% registered higher than in May and remains more than half a percentage point above the nation. The state’s unemployment rate is the 10th highest nationally and is above Alabama (7.8%), Louisiana (7.5%), and Arkansas (7.2%).
Mississippi’s economy continues to struggle to post substantial job gains. Data from the University Research Center demonstrates that between May of 2011 and May of 2012 Mississippi experienced a decline of 1,600 jobs. The magnitude of job loss is greatest in construction and business services. Leisure and Hospitality, trade and transportation, and manufacturing also show net job loss since this time last year. In contrast, the greatest growth has been in health and education services (see chart).
The promotion of the state’s health care industry continues to be a priority for many state leaders, and job growth in the sector over the last year underscores opportunities in the sector for continued advancement.
A recent piece in the Clarion Ledger features a discussion of paths to supporting the health care sector through both tax incentives and through increased demand from extending Medicaid coverage to more Mississippi adults. Covering more Mississippi adults under Medicaid offers a path to reducing hospital loses from treating uninsured patients, creating more quality jobs, and protecting more families from financial loss associated with medical emergencies.
Later this week
MEPC’s blog will take a look at what other states are doing to assess the economic effects of extending health insurance coverage through Medicaid to more Mississippi residents.
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