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Tag Archives: recession

Airline employment still falling

U.S. scheduled passenger airlines employed 6.3 percent fewer workers in June 2009 than in June 2008, the 12th consecutive decrease in full-time equivalent employee (FTE) levels for the scheduled passenger carriers from the same month of the previous year. All the network airlines decreased employment from June 2008 to June 2009 as did low-cost carriers AirTran Airways and Frontier Airlines. ...

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USM looking to slash budget

HATTIESBURG — University of Southern Mississippi (USM) officials are reviewing budget cuts proposed by a campus-wide committee, as well as identifying additional areas for reductions, to lower spending by $11-$12 million for fiscal year 2011. The proposed spending reductions are in response to an anticipated shortfall in state appropriations and general cost increases. The university’s Academic Planning Group (APG), under ...

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Non-residential construction still slumping

Private non-residential construction spending fell by 0.5 percent in June, according to the August 3 report by the U.S. Census Bureau. On a year-over-year basis, private non-residential construction is down 4.8 percent from June 2008. Overall, total non-residential construction spending, including both private and public, is up 0.1 percent from May 2009 to $711.9 billion, but down 0.7 percent from ...

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CMI continues upward trend

COLUMBIA, Md. — For the sixth straight month, the Credit Managers’ Index (CMI) indicates that there is growth in the availability of capital. The July index stood at 48. Over the last two months, the dominant economic debate has focused on whether the recession has already ended, is ending now or is in the process of ending. The data coming ...

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Unemployment claims rise

In the week ending July 18, the advance figure for seasonally adjusted initial unemployment claims was 554,000, an increase of 30,000 from the previous week’s revised figure. The four-week moving average was 566,000, a decrease of 19,000 from the previous week’s revised average. The advance seasonally adjusted insured unemployment rate was 4.7 percent for the week ending July 11, unchanged ...

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First M&F records more losses

KOSCIUSKO — First M&F Corp., for the quarter ended June 30, 2009, recorded a net loss of $5.111 million, or a negative $(.61) basic and diluted earnings per share, compared to the first quarter of 2009 loss of $27.241 million, or negative $(2.99) per share and a loss of $.466 million, or $(.05) basic and diluted earnings per share for ...

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Martin Marietta Materials lowers expectations

AROUND MISSISSIPPI — Martin Marietta Materials Inc. of Raleigh, N.C., now expects 2009 net earnings to be in a range of $2.70 to $3.30 per diluted share. The company, which has Mississippi operations in Tremont, Canton, Friars Point, Lake Cormorant and Vicksburg, said the revised earnings range is driven by three primary factors: a weaker and slower-than-expected recovery of the ...

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IHL report not rosy

JACKSON — The June issue of the “Mississippi Economic Review and Outlook,” published by the Center for Policy Research and Planning of the Institutions of Higher Learning (IHL), is now available online at www.mississippi.edu/URC. This issue focuses on the rising unemployment in the state and the projected course of the recession.  In addition to articles on the economic outlook, the ...

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