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Tag Archives: economy

Jackson confirms budget deficit, cuts ahead

The mayor of Jackson has suggested that the city needs to make cuts, as it has exhausted its fund balance and dipped into emergency reserves. The Clarion-Ledger reports that during a Thursday budget meeting Mayor Tony Yarber proposed cutting Summer Youth Employment Program, funding provided to outside agencies, non-essential purchase or travel requests and non-emergency overtime not previously approved. Yarber ...

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Mississippi continues ‘sluggish’ growth, economist says

JACKSON — The state economist says Mississippi continues to have “sluggish” growth that trails the Southeast and the nation as a whole. Darrin Webb tells lawmakers Wednesday that he expects data will show Mississippi’s economy grew about 1 percent in 2015, following two years of contraction. That compares to 2.4 percent growth last year for the nation — the same ...

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State’s economic growth to show 1 percent rise for 2015

By TED CARTER Not far removed from negative growth in 2013 and zero growth in 2014, Mississippi’s economy grew by an estimated 1 percent in 2015, economists with the Mississippi Research Center report. Even that slight amount of growth surprised state economists who looked at third quarter growth and projected a rise of only a half percentage point, according to the ...

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Mississippi jobless rate jumps as more people seeking work

JACKSON — Mississippi’s unemployment rate jumped in December as the economy didn’t generate enough jobs to absorb more people looking for work. The jobless rate rose to 6.4 percent from 6 percent in November, as the increasing number of job-seekers outstripped the number of new people reporting having a job for the second month in a row. That pushed up ...

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US stocks rise as energy stocks bounce back from big loss

NEW YORK — U.S. stocks are climbing Thursday, led by big gains in energy companies as the prices of crude oil and natural gas recover from steep plunges the day before. Telecom stocks also rose after Verizon reported strong fourth-quarter results. KEEPING SCORE: The Dow Jones industrial average added 146 points, or 0.9 percent, to 15,912 as of 11:23 a.m. Eastern ...

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BILL CRAWFORD — Underperforming state economy thumps state budget

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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