JACKSON, Miss.--Mississippi saw slower job growth than some expected in 2012. A new report presented this week to the state college board said the Magnolia State was one of only four in the country to see negative job growth. Published by the Center for Policy Research and Planning of the Institutions of Higher Learning (IHL), the Mississippi Economic Outlook presents the state economic forecast, including detailed employment forecasts by sector.
Bottom line-The new Social Security tax increase of two percent will affect the state's job market. The report said positive job creation is expected in 2013, but it's not going to be fast and that's where the tax comes into play.
The gross state product growth is expected at 1.4 percent, about .2 percent slower than originally predicted.
The report said health care and social assistance, durables manufacturing, and transportation and utilities were the leading job creators in 2012 and will also be at the forefront of job creation in 2013. Each maintained employment growth of over 2 percent. On the other hand, construction employment was down over six percent and business and professional services also fell by nearly two percent.