1 / 33

NOTE: To print these slides in black on white, choose grayscale under Options in print preview.

NOTE: To print these slides in black on white, choose grayscale under Options in print preview. MISSISSIPPI ECONOMIC OUTLOOK 2010-2015. NATIONAL TRENDS MISSISSIPPI TRENDS EMPLOYMENT INDUSTRIES STATE BUDGET. National Economy in 2010. Recent profits, equipment spending strong

damara
Download Presentation

NOTE: To print these slides in black on white, choose grayscale under Options in print preview.

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. NOTE: To print these slides in black on white, choose grayscale under Options in print preview.

  2. MISSISSIPPI ECONOMIC OUTLOOK 2010-2015 • NATIONAL TRENDS • MISSISSIPPI TRENDS • EMPLOYMENT • INDUSTRIES • STATE BUDGET

  3. National Economy in 2010 • Recent profits, equipment spending strong • Private sector jobs being added • Inflation not a problem; oil prices moderate • Exports growing • Stimulus spending slowing • Consumer, business spending tentative • Employment growth slow • Housing not yet on upswing • Toxic assets remain on financial books

  4. Mississippi Economy in 2010 • Housing, financial bubbles less severe • Job loss slowing, retail sales improving • Tax revenues stabilizing • Major projects boost spending • Some of $2.8 billion stimulus to MS remains • Uncertainties, unemployment impacting consumers • Construction, manufacturing hit hard • Tax revenues low relative to state budget • Long-term challenges on hold

  5. MS Employment: Comparing Periods of Contraction Months From Peak Employment: Zero is the Peak Employment is indexed to month of Peak Employment Level

  6. Mississippi versus U.S. Employment Index Quarterly Data Source: MS Center for Policy Research & Planning, I.H.S. Global Insight.

  7. Mississippi Employment GrowthAs of July ,Year-to-Date Versus 2009 Source: Data from MS Dept of Employment Security.

  8. Mississippi Employment GrowthJuly 2009 versus July 2010 Source: Data from MS Dept of Employment Security.

  9. Unemployment Rates, Mississippi Urban Areas Source: U.S. Bureau of Labor Statistics.

  10. Gulf Coast Employment July 2010 versus August 2005 Source: Data from MS Dept of Employment Security.

  11. MS Regains 2000 Employment Level In 2015 Source: MS Center for Policy Research & Planning, I.H.S. Global Insight.

  12. Employment By Sector 2010, MS vs. U.S.(Percent) Source: US Bureau of Labor Statistics.

  13. Construction Employment, Coast and Rest of Mississippi, 2005-10

  14. MS And US Housing Market % Change 2007:Q2 – 2009:Q2

  15. Mississippi Housing Market % Change 2009:Q1 – 2010:Q1

  16. Value of Housing Building Permits Mississippi, Aug. 2008 - July 2010

  17. Foreclosures and Past Due Payments Mississippi Housing Market Source: Mortgage Bankers Association.

  18. Major New Projects Port at Gulfport $570 million Schulz Extruded Products $300 million Enterprise for Innovative Geospatial Solutions $279 million Twin Creeks Technologies $175 million Toyota Auto Plant $1.3 billion LNG Project $1.1 billion Severstal Expansion $500 million Keesler Air Force Project $950 million Source: Mississippi Authority Development

  19. Mississippi Retail SalesAugust 2008 to July 2010 Source: Mississippi Department of Revenue.

  20. Transfers to General Fund August 2008 to August 2010 Source: Mississippi Department of Revenue.

  21. Growth in General Fund TransfersFY2009 versus FY2010

  22. Growth in State General Fund Transfers( August 2009 versus August 2010) SOURCE: MS Dept of Revenue.

  23. FY2011 • GROSS STATE PRODUCT $93.1 billion • MISSISSIPPI BUDGET $19.1 billion Federal Funds $9.3 b. State-Source Spec. Funds $5.4 b. State General Fund $4.4 b. Source: MS Dept of Finance & Admin.

  24. Economic Forecast 2009 to 2010(Percent Change)

  25. Economic Forecast 2010 to 2011(Percent Change)

  26. Projected and Past Employment Growth MS and US Source: MS Center for Policy Research & Planning, Global Insight.

  27. Projected and Past Output Growth MS and US Source: MS Center for Policy Research & Planning, Global Insight.

  28. Employment Forecast by Sector (average annual rate of change) Source: MS Center for Policy Research and Planning.

  29. WILL THIS CRISIS BE AN OPPORTUNITY LOST? • Financial Sector: Transparency & Accountability • Restructuring: Health, Energy • Social Safety Net • State Budget: Performance-Based Budgeting, Policymaking Capacity, Tax Reform

  30. EDUCATION AND THE SKILL GAP • 29%of persons in U.S. from 25 to 64 years old have a bachelor’s degree or higher • Only 20%of persons from 25 to 64 years old in Mississippi have a bachelor’s degree or higher SOURCE: U.S. Census and U.S. Monthly Labor Review, U.S. Dept. of Labor, 2007.

  31. SOURCE: PUMS Dataset, 2000 Census. Fighting Poverty: Education and More Required

  32. IN SUMMARY • Starting climb from bottom • Jobs, state revenues stabilizing • US, world growth will be a positive • Major projects on-line • Long-term challenges remain • Ability to innovate, compete • Education, research • State budget, health, energy, social issues

  33. MISSISSIPPI ECONOMIC REVIEW& OUTLOOKandMISSISSIPPI’S BUSINESS at www.mississippi.edu/URC Join MS Economy Listserve: contact mhill@mississippi.edu University Research Center

More Related