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The State of Mississippi’s Economy

Phil Pepper Mississippi Institutions of Higher Learning Presentation to the Mississippi Association of School Business Officers February 8, 2010. The State of Mississippi’s Economy. 2009 Economic Stats. Mississippi Nonfarm Employment. 1,159.3 May 00. 1,160.3 Jan 08. 1,107.2 Jun 03.

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The State of Mississippi’s Economy

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  1. Phil Pepper Mississippi Institutions of Higher Learning Presentation to the Mississippi Association of School Business Officers February 8, 2010 The State of Mississippi’s Economy

  2. 2009 Economic Stats

  3. MississippiNonfarm Employment 1,159.3 May 00 1,160.3 Jan 08 1,107.2 Jun 03 1,098.9 Nov 09 Source: Mississippi Department of Employment Security seasonally adjusted by IHL

  4. Mississippi Employment by Major Industry Sector, 1990 - 2009 Source: U.S. Bureau of Labor Statistics

  5. Per Capita Income Source: U.S. Bureau of Economic Analysis

  6. Average Annual Growth In Real GDP During Periods of U.S. Expansion/Contraction Trough-To-Peak Source: U.S. Bureau of Economic Analysis and IHL.

  7. Slowing Income Growth in THE US Average Annual Growth In Real Total Personal IncomeDuring Periods of U.S. Expansion

  8. Slowing output per potential worker Average Annual Growth In Real GDP Per Working Age Population During Periods of U.S. Expansion 10

  9. Workforce Participation Rate Percentage of Population 18-64 in the Workforce 11

  10. Monthly US Job Losses

  11. Mississippi real value of Residential building permits Source: U.S. Bureau of the Census Building permits spiked in June 2009, but have since declined.

  12. Sales Tax Transfers 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) 2010 Growth is the November Revised Estimate. 14

  13. Individual Income Tax 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) 2010 Growth is the November Revised Estimate. 15

  14. General fund Trends Red Bars Denote National Recessions: July 1990-March 1991; March 2001-November 2001; December 2007 - ?

  15. Growth Over Prior Year: Withholdings and Gross Retail Sales Tax Transfers

  16. Net general Fund Revenue Estimates FY 2011 (In Millions of Dollars) Total: $4,562.9 18

  17. College Graduates as a Percentage of Population 19 Compared to the National Average, Mississippi has fewer college graduates.

  18. Workforce Participation by Educational Attainment Mississippians 25-64 Years of Age, 2005 Source: U.S. Census, American Community Survey

  19. Unemployment Rateby Educational Attainment Mississippians 25-64 Years of Age, 2005 Source: U.S. Census, American Community Survey

  20. Questions Or Comments?

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