This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Miss. Economy Predicted To Grow Slowly In 2013

A drop in payroll employment during parts of 2012 led economists to say Mississippi had dipped back into recession. Payrolls have fallen every year since 2007, and Hill predicts payrolls will end 2012 basically flat, before growing by 1 percent in 2013.

"There's some improvement next year because it looks like construction is coming back," she said. "Building permits are improving."

There are also signs that the number of independent contractors is increasing in the state, a measure that's not captured by the payroll survey. The state unemployment rate is expected to fall slowly to 7.2 percent by 2017.

Despite the poor performance this year, per capita income in Mississippi is expected to expand by 2.5 percent. Hill said people who have jobs are doing pretty well, as bosses try to load more work on existing employees. But they're reluctant to hire new workers.

The relative prosperity of those who are employed has helped drive increases in state tax revenues, although that positive trend has wobbled in recent months

Some others see more positive signs. A survey of business owners and managers along the Mississippi coast shows that they expect a modestly improving economy in the state's second-largest urban region. The Gulf Coast Business Council survey showed an improvement in business confidence since July. After four months of recession, the Federal Reserve Bank of Philadelphia's calculations showed economic growth for Mississippi in August and September. The bank's index of leading economic indicators, which predicts growth in the next six months, showed sharp acceleration in Mississippi in September. The latest month's output predicts Mississippi will grow faster than the nation over the next half-year.

___

Follow Jeff Amy at: http://twitter.com/jeffamy

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs