Economic Data for Mississippi

Gross Domestic Product

Real GDP (a measure of economic growth) has been increasing since 2011 from the most recent low of $93 billion. It has grown since then and is at the pre-recession levels of $97 billion.

 

Jobs

Private-sector employers have added 85,000 jobs since 2010, the national low point for private-sector employment. From 2017 to 2018 the private sector has added approximately 15,000 net new jobs for a total of 253,000, putting it slightly above the pre-recession high of 922,000 total jobs. Average hourly wages in the private sector have been growing since 2011, going from $18/hr to $20.25/hr in 2018.

 

Manufacturing employment has been declining since 2000, especially during the 2008 recession, but has been growing slightly since then. There were 145,000 jobs in this sector in 2018, down from pre-recession levels of 167,000. Average hourly wages of production employees have increased since 2000, going from $12/hr to approximately $18/hr in 2018.

 

There were 47,500 jobs in the Transportation and Warehousing sector in 2018, 11,000 jobs above its 2010 low, showing growth in this sector. The average wage in Transportation and Material Moving occupations has been growing since 2012, going from $15.75/hr to $20/hr in 2018.

 

Unemployment

The unemployment rate in 2018 is 4.6%, down from the prior year’s 5.4% rate. This is below the national average of 3.9% unemployment.

 

Housing

The House Price Index, a measure of the cost of housing, stagnated after 2008 until 2013 when it grew from 238 in 2013 to 270 in 2018, above pre-recession levels.