1. Phil Pepper Mississippi Institutions of Higher Learning Presentation to 2010 LEARN Conference March 29, 2010

2. MississippiUnited States 2009 Populations Estimate (US Census) 2,951,996307,006,550 2009 Total Personal Income, Billions (US BEA)$88.9$12,015.5 2009 Unemployment Rate (US BLS)9.6%9.3% 2009 Unemployment Rate U-4 (US BLS)10.2%9.7% 2008 Workforce Participation Rate, 16 yrs+ (US Census)60.1%66.0% 2008 Per Capita Income (US BEA)$30,103$39,138 2

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5. Mississippi Nonfarm Employment Source: U.S. Bureau of Labor Statistics 5 1,160.6 May 00 1,108.3 Jun 03 1,085.5 Feb 10 1,159.0 Jan 08

6. 6 Mississippi Employment by Major Industry Sector, 1990 - 2010 Source: U.S. Bureau of Labor Statistics

7. 7 Source: U.S. Bureau of Economic Analysis and IHL. Trough-To-Peak

8. 8 Average Annual Growth In Real Total Personal Income During Periods of U.S. Expansion

9. Source: U.S. Bureau of the Census 9

10. 10 Percentage of Population 18-64 in the Workforce

11. 11 Source: FDIC

12. 12 Red Bars Denote National Recessions: July 1990-March 1991; March 2001-November 2001; December 2007 – June 2009(Preliminary) 2010 Growth is the March Revised Estimate. Transfers to the G.F. -- Growth Over Prior Year

13. 13 Red Bars Denote National Recessions: July 1990-March 1991; March 2001-November 2001; December 2007 – June 2009(Preliminary) 2010 Growth is the March Revised Estimate. Transfers to the G.F.-- Growth Over Prior Year

14. Red Bars Denote National Recessions: July 1990-March 1991; March 2001-November 2001; December 2007 – June 2009 (Preliminary). 2010 Growth is the March Revised Estimate. 14 Transfers to the G.F.-- Growth Over Prior Year

15. 15 March 2010 is preliminary

16.  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 16

17. 17 Questions or Comments?