THE MISSISSIPPI ECONOMIC OUTLOOK, 2009

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					THE MISSISSIPPI ECONOMIC OUTLOOK, 2009
William Gunther
Business Perspectives; Spring 2009; 19, 4; Docstoc
pg. 28




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Description: The inescapable fact is that the US is in a recession that will most likely be the longest post-war recession on record. It may well also set a record for the largest calendar year (2009) drop in GDP by falling between 2.5% and 3.5% when compared to 2008. The economic structure of a state's economy makes a great deal of difference in how the economy responds to financial and economic events. Although Mississippi's economic structure is changing, it remains dissimilar when compared to that of the US. Mississippi's employment losses by sector are similar to losses in the overall US economy with one important exception -- the Construction sector. In the national economy, the Construction sector absorbed about 12.4% of the total job losses in 2008. Mississippi's fiscal prospects are clouded somewhat by the composition of total personal income. The employment forecast for 2009 in Mississippi calls for continued weakness and growing unemployment.
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