State Not Projected to Surpass Employment Levels from 2000 Until 2016
October 4th, 2011
On September 28th, the Mississippi Institutions of Higher Learning held their Annual Economic Outlook Conference. Presentations detailed that employment across Mississippi is projected to grow slowly through 2016, at 1.3% annually. Last year, projections were that Mississippi would regain the number of jobs that existed in 2000 by 2014. Slowing growth led IHL to revise their projection, indicating that the state will not surpass 2000 levels of employment until 2016.
Business services, health care and social assistance, and construction employment are expected to average strong employment growth between 2011 and 2016. In contrast, employment in hospitality & leisure, government and finance are each projected to average annual growth at less than one percent (see below).
JOB CONCENTRATION BY INDUSTRY MAY IMPACT STRENGTH OF RECOVERY
Jobs in government make up 23% of total employment in Mississippi, a larger concentration than the national average of 17%. On the other side of the spectrum, business services represented 9% of employment in the state compared to 13% nationally. The concentration of jobs in business services and health care is lower in Mississippi than across the nation, signaling that the state has a lower portion of jobs in sectors that will have relatively strong growth in the next 5 years.
With almost a quarter of Mississippi’s employment in government, economists with the Institutions of Higher Learning suggested that the state may experience a weaker recovery than other parts of the country through 2016.
Posts throughout the week will feature additional findings from the IHL’s Economic Outlook Conference.
Author: Sarah Welker, Policy Analyst
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