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Tag Archives: economy

BILL CRAWFORD — Underperforming state economy thumps state budget

economic development

Uh oh.  Money to fund Mississippi government is below target this year and will be less than expected next year.   So much for fully funding MAEP next year, or big tax cuts, or big funding increases for colleges, universities or other state agencies.   And this is a surprise?   Given all the tax cuts, rebates, and credits passed by ...

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US retail sales crawl upward in Oct., led by online shopping


WASHINGTON — Americans ramped up their online shopping and restaurant spending in October, but barely-there inflation kept overall retail sales growth muted. The Commerce Department said Friday that retail sales rose a seasonally adjusted 0.1 percent last month, after being unchanged in September and August. Over the past 12 months, sales have risen 1.7 percent. Lower gasoline costs and meager ...

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BILL CRAWFORD — Fed’s artificially low rates unfair to CD owners


Are you a senior citizen or other conservative saver frustrated with the low rates banks have been paying on CDs?  Since the Federal Reserve controls these rates, now may be the time for you to weigh in with your senator and congressman.   The Fed is charged by law “to promote effectively the goals of maximum employment, stable prices, and moderate ...

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U.S. GDP growth revised upward to 3.7 percent in second quarter


The Associated Press The U.S. economy staged a far bigger rebound last quarter than first thought, outpacing the rest of the developed world and bolstering confidence that it will remain sturdy in coming months despite global headwinds. The economy as measured by gross domestic product expanded at an annual rate of 3.7 percent in the April-June quarter, the Commerce Department ...

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Mississippi economy in slight rebound after 2 years of recession


By TED CARTER Several years after Washington declared the Great Recession over, Mississippi continued to endure its consequences, finishing both 2013 and 2014 with a shrinking economy. That tough stretch appears to be over, with the state’s economic negativity turning positive in the second quarter of 2015, state economists say. With 2013 and 2014 included, Mississippi has had a deficit in ...

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Sustained job growth forecast for Mississippi through 2017


By TED CARTER Mississippi’s jobs numbers are expected to grow 0.9 percent this year and rise to 1.1 percent in 2016 and remain there through 2017, economists with the University Research Center said in the Mississippi Economic Outlook’s summer 2015 issue. For the first six months of 2015, non-farm job growth is up 0.8 percent compared to the same period in ...

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Seraphim Solar to build manufacturing facility in Jackson; says will create up to 250 jobs


Chinese solar panel maker Seraphim Solar announced Wednesday that it will invest $50 million to open its first U.S. factory in Jackson. The company said it will hire 250 workers over its first five years to assemble solar modules. City spokeswoman Shelia Byrd said the city is in final negotiations on incentives, but said she didn’t know when an agreement ...

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State’s key economic indicators show slight strengthening

The performance of Mississippi’s economy in 2015 may hinge on growth in building permits, retail trade and consumer confidence offsetting a slowdown in U.S. manufacturing attributed to a stronger dollar, lower oil prices and bad weather. So say Mississippi state economists in the March issue of Mississippi’s Business, a monthly report on the state’s economy by the University Research Center ...

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SELENA SWARTZFAGER — James Wilcox is a rising star indeed

If you don’t know James Wilcox, you are missing out.  I have had the pleasure of working with him for the past four years as he is the director of the Southern Entrepreneurship Program offered by the University of Southern Mississippi Center for Economics and Entrepreneurship Education (check it out at www.thesep.org).  The teachers he works with love him!  Level-headed, ...

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House panel approves small bump in sales tax money to cities

JACKSON — Mississippi’s nearly 300 cities and towns could get a little more sales tax money under a proposal lawmakers are considering. House Bill 1110 was passed Tuesday by the House Ways and Means Committee and appears headed to the full House. Right now, cities get 18.5 percent of the 7-cent cent sales tax collected inside their boundaries. The bill ...

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