Posts Tagged ‘recession’

Valley State laying off staff due to state budget cuts

ITTA BENA — Mississippi Valley State University is laying off about 4 percent of its staff as a response to continued state budget cuts. Spokeswoman TaRessa Stoval tells The Greenwood Commonwealth the 21 employees being laid off include clerical personnel, service personnel and mid-level managers. The cuts take effect June 30. She says the affected […] [...]

Upon further review: State had negative GDP for 2011

Mississippi dipped back into recession in 2011, with overall economic output shrinking 0.8 percent, according to federal figures released last Tuesday. The Magnolia State was one of only six states where the economy contracted in 2011, along with Alabama, Hawaii, Maine, New Jersey and Wyoming, the U.S. Bureau of Economic Analysis reported. Senior economist Marianne […] [...]

Caesars pulls plug on construction of unfinished casino

BILOXI — Casino operator Caesars Entertainment Corp. says it won’t continue construction of the unfinished casino on the beach in Biloxi, Miss. The company took a $167.5 million non-cash impairment charge on the project, writing off the money spent on the casino before stopping work in 2008. Caesars spokesman Gary Thompson tells the Sun Herald […] [...]

Study: State’s economy saw ‘rough year’ in 2011

ACROSS MISSISSIPPI — The April 2012 issue of the Mississippi Economic Outlook, a quarterly publication replacing the bi-annual Mississippi Economic Review and Outlook, is now available online at www.mississippi.edu/URC. Published by the Center for Policy Research and Planning of the Institutions of Higher Learning (IHL), the Outlook presents the state economic forecast for 2012 to […] [...]

FNC Inc. index finds U.S. home prices still weakening

OXFORD — FNC’s latest Residential Price Index (RPI) indicates that U.S. residential property values continued to show signs of persistent weakening, ending in February with a seventh consecutive month-to-month decline. Despite sharply rising activities in existing home sales and new housing starts from a year ago, prices on non-distressed home sales (excluding foreclosure auction sales, […] [...]

State’s joblessness rate falls to single digits, lowest since July 2009

ACROSS MISSISSIPPI — Mississippi’s unemployment rate fell to 9.5 percent in February, the lowest level since July 2009. Jobless figures for January had first appeared to dip to 9.9 percent in preliminary numbers, but later were revised up to 10 percent. The state recorded a 10.2 percent unemployment rate in February 2011. The number of […] [...]

Gov. Bryant revises his proposed state budget

JACKSON — Gov. Phil Bryant is revising his state budget for the year that begins July 1. In his new plan, released yesterday, the Republican no longer asks local school districts to dig into their own financial reserves to offset state funding cuts. Instead, he proposes giving elementary and secondary schools, community colleges and universities […] [...]

Report: State’s foreclosure rate fell in 2011

ACROSS MISSISSIPPI — The pace of home foreclosures in Mississippi slowed substantially in 2011, following a national trend that may soon be reversed, a national foreclosure tracking firm said yesterday. Irvine, Calif.-based RealtyTrac said that in 2011, 3,172 homes in the state were hit by some sort of foreclosure action. Those range from an initial […] [...]

UMMC letting go 115 workers, cites weak demand

JACKSON — The University of Mississippi Medical Center is reducing the size of its workforce by approximately 115 employees. Coupled with a decision to not fill 90 vacant positions, the UMMC workforce will be about 2 percent smaller than it was at the end of 2011, according to Dr. James E. Keeton, vice chancellor for […] [...]

MBJ EDITORIAL: Big questions for Kemper County coal plant come down to who knew what and when

by Published: December 15,2011

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In May of 2010 we wrote, “For better or worse, the economic future for the next 40 years in southeastern Mississippi will be greatly impacted by the decision of Public Service Commissioner Leonard Bentz. “ Justices with the Mississippi Supreme Court may be asking now how he came to his decision when he changed his […] [...]

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