Download presentation
Presentation is loading. Please wait.
1
Mississippi’s Economic outlook
Phil Pepper Mississippi Institutions of Higher Learning The Economic Symposium, 2010 May 4, 2010 Mississippi’s Economic outlook
2
Economic Stats Madison Mississippi United States
2009 Populations Estimate (US Census) 93,097 2,951,996 307,006,550 2009 Total Personal Income, Billions (US BEA) $4.2* $88.9 $12,015.5 2009 Civilian Labor Force (US BLS) 45,868 1,291,949 154,142,000 2009 Unemployment Rate (US BLS) 6.9% 9.6% 9.3% 2009 Unemployment Rate U-6 (US BLS) NA 16.2% 2008 Workforce Participation Rate, 16 yrs+ (US Census) 68.4% 60.1% 66.0% 2008 Per Capita Income (US BEA) $45,635 $30,103 $39,138 NA = Data Not available. * Total Personal Income For Madison County is for 2008.
3
Population Growth 1930-2000 Mississippi 41.5% United States 128.4%
-60.3% Issaquena -60.0% Quitman -58.1% Tallahatchie -56.5% Tunica -54.7% Humphreys -52.6% Sharkey -52.2% Kemper -50.9% Noxubee -48.2% Sunflower -45.5% Carroll -43.9% Holmes -42.8% Bolivar -33.9% Coahoma -31.8% Jefferson -31.1% Franklin -31.0% Amite -29.1% Leflore -26.5% Yalobusha -26.1% Wilkinson -24.5% Attala Yazoo -20.9% Choctaw -18.8% Montgomery -18.2% Benton -16.7% Calhoun -15.1% Webster -12.1% Smith -9.0% Copiah -8.8% Clarke -6.7% Chickasaw -5.1% Winston -4.7% Newton -4.0% Leake -2.6% Claiborne Jasper -2.2% Jefferson Davis 5.2% Monroe 6.3% Lawrence 7.5% Neshoba 9.3% Walthall 11.6% Tippah 16.0% Washington 16.8% Tishomingo 19.2% Union 19.6% Panola 20.9% Pike 21.3% Pontotoc 22.6% Clay 24.9% Itawamba Greene 25.8% Lincoln 28.5% Marion 29.1% Covington 32.3% Simpson 32.7% Prentiss 35.9% Scott 38.5% Grenada 38.7% Wayne Warren 40.7% Marshall 43.6% Tate 45.7% Adams 46.1% Alcorn 48.1% Perry 48.2% Lauderdale 56.6% Jones 93.9% Lafayette 105.4% Lowndes 108.6% Madison 114.5% Lee 124.4% Oktibbeha 138.8% Stone 141.1% Forrest 150.6% Pearl River 154.5% George 194.6% Hinds 204.1% Lamar 276.4% Hancock 321.4% De Soto 329.5% Harrison 466.6% Rankin 722.8% Jackson Mississippi 41.5% United States 128.4% Loss Gain
4
Population Growth 1990-2009 Mississippi 14.5% United States 23.4% Loss
-22.9% Sharkey -19.5% Quitman Washington -18.9% Humphreys -16.8% Tallahatchie -15.5% Sunflower -15.4% Issaquena -14.7% Coahoma -12.9% Adams -12.1% Bolivar -10.5% Jefferson Davis -10.3% Montgomery -7.8% Noxubee -7.3% Leflore -5.9% Holmes -5.4% Claiborne -4.8% Kemper -3.5% Webster -3.4% Calhoun -2.7% Hinds -2.0% Clay -1.7% Amite -0.7% Choctaw -0.6% Winston Benton Clarke -0.2% Franklin 0.2% Lowndes 0.8% Monroe Warren 0.9% Marion 3.1% Chickasaw 3.8% Jefferson 4.6% Wilkinson 4.8% Lauderdale 4.9% Jasper 5.3% Copiah 5.8% Wayne 6.3% Walthall 6.8% Lawrence Grenada 7.0% Attala 7.2% Smith 7.4% Tishomingo 8.2% Pike 9.4% Jones 9.7% Harrison 9.8% Yazoo 10.5% Prentiss 10.8% Tippah 11.0% Perry Newton 11.2% Carroll 12.8% Alcorn 14.1% Yalobusha 14.7% Itawamba 15.0% Lincoln 15.4% Jackson 16.0% Oktibbeha 16.4% Simpson 17.0% Panola 18.7% Forrest 21.2% Marshall 21.3% Scott 22.1% Neshoba 23.5% Union 24.2% Covington 24.4% Lee 25.2% Leake 27.5% Tate 28.2% Tunica 28.5% Hancock 31.0% Pontotoc 35.6% George 37.9% Lafayette 40.0% Greene 49.0% Pearl River 54.5% Stone 63.3% Rankin 64.0% Lamar 71.5% Madison 131.4% De Soto Mississippi 14.5% United States 23.4% Loss Gain
5
Mississippi Nonfarm Employment
1,160.6 May 00 1,159.6 Feb 08 1,108.3 Jun 03 1,086.0 Feb 10 Source: U.S. Bureau of Labor Statistics
6
Nonfarm Employment Index, 1990=100
Source: U.S. Bureau of Labor Statistics and IHL
7
Mississippi Employment by Major Industry Sector, 1990 - 2010
Source: U.S. Bureau of Labor Statistics
8
Relative Share of Total by Major Sector
Source: U.S. Bureau of Labor Statistics and IHL
9
Total Personal Income Index, 1990=100
Source: U.S. Bureau of Labor Statistics and IHL
10
Growth in Real Total Personal Income
Source: U.S. Bureau of Economic Analysis
11
Retail Sales Pull Factors, 2008
0.16 Issaquena 0.21 Benton 0.22 Carroll 0.26 Quitman 0.27 Amite 0.34 Choctaw Greene 0.35 Franklin Jefferson Yalobusha 0.36 Lawrence 0.37 Kemper 0.39 Smith 0.43 Marshall Perry 0.45 Holmes 0.46 Noxubee 0.47 Itawamba 0.48 Claiborne Jefferson Davis Webster 0.51 Clarke Newton 0.52 Calhoun 0.53 Sunflower 0.54 Wilkinson 0.55 Tallahatchie Humphreys Tate 0.57 Tishomingo 0.58 Monroe Tippah Chickasaw 0.59 Yazoo Simpson Clay 0.60 Walthall 0.61 Montgomery Sharkey 0.62 Winston Copiah 0.67 Pontotoc Leake 0.68 Covington Coahoma 0.69 Attala 0.70 Bolivar 0.72 Prentiss Neshoba 0.75 Pearl River Jasper 0.76 Oktibbeha 0.81 Stone 0.82 Union 0.84 Madison Jackson Scott 0.87 Washington 0.90 De Soto 0.91 Panola 0.94 Lafayette 0.95 Wayne 0.96 Warren 0.98 Leflore 0.99 Hancock 1.01 Hinds 1.03 Alcorn George 1.04 Marion 1.05 Lowndes 1.07 Lauderdale 1.09 Rankin 1.11 Jones 1.12 Pike 1.13 Lincoln 1.15 Adams 1.17 Grenada 1.27 Lee 1.37 Lamar 1.39 Forrest 1.40 Harrison 1.63 Tunica Index Less Than 0.60 Index Above 0.60 But Less Than 1.00 Index Greater Than 1.00
12
Retail Sales Pull Factor, 1990-2008
13
Transfers to the G.F.-- Growth Over Prior Year
General fund Trends Transfers to the G.F.-- Growth Over Prior Year Red Bars Denote National Recessions: July 1990-March 1991; March 2001-November 2001; December 2007 – June 2009 (Preliminary) Growth is the March Revised Estimate.
14
MS Consumers Are Not Spending
Source: FDIC
15
Jobs Lost relative to the year ago
16
College Graduates as share of Population
Percentage of Population 25+ Years Old with at Least a Bachelor's Degree Source: U.S. Bureau of Economic Analysis
17
Workforce participation and Education attainment
Mississippians Years of Age, 2005
18
Unemployment and Education Attainment
Mississippians Years of Age, 2005
19
summary Growth in the US and MS will be below the long-term average for the foreseeable future Job growth in particular will be anemic in MS State revenue growth will be slow with greater frequency of negative years Restructuring of State verses Federal government -- politics, politics, politics Education, Education, Education
20
Questions or Comments?
Similar presentations
