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Tag Archives: recession

Report forecasts state to see 'slow but improving' growth

JACKSON — The November issue of the Mississippi Economic Outlook, a quarterly publication, is now available. 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 2017, and includes detailed employment forecasts by sector. Regional, national and international developments impacting the state economy are ...

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Report: Coast businesses more optimistic on economy

Director of research and policy Scott King and the Gulf Coast Business Council Research Foundation have released the quarterly CEO and Business Owners Confidence report for the third quarter 2012. “Business leaders see a modestly improving Gulf Coast economy,” said Jack Norris, president of the Gulf Coast Business Council. “It will be interesting to conduct the next CEO and Business ...

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FNC index shows U.S. home prices still rising

OXFORD — FNC’s latest Residential Price Index (RPI) indicates that U.S. residential property values continue to gain traction amid signs of slower economic growth and a stagnant labor market. Home prices rose again in June for the fourth consecutive month. Nationwide, June home prices — based on recorded sales of non-distressed properties (existing and new homes) in the 100 largest ...

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All county employees to be furloughed in cost-cutting measure

PEARL RIVER COUNTY — New furloughs in Pearl River County will affect all county employees, including department heads and administrators. The Picayune Item reports the board of supervisors also cut spending, including $50,000 to the library system was free up money in the budget. On June 11, the board of supervisors froze hiring and the issuance of purchase orders. The ...

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Schools to dip into reserves; won't request tax increase

HATTIESBURG — The Forrest County School District will not request a millage increase for 2012-13, but will instead use money from its reserve fund to pay for extra expenses in its budget. The Hattiesburg American reports the school district’s budget for the upcoming school year is $24.9 million, up from last year’s budget of $23.9 million. The district has 2,300 ...

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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 employees were not offered severance ...

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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 Hill with the Mississippi Institutes ...

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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 the project was halted at ...

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