Mississippi’s economy is outpacing the national economy, although both are growing at a relatively slow rate, an expert told lawmakers Thursday.
State economist Darrin Webb told the Joint Legislative Budget Committee that Mississippi had 1.9 percent growth in its gross domestic product in the first half of 2013 and he expects the rate to be 1.8 percent by year’s end. He said the national economy is growing 1.6 percent.
“The state has really been slow to the party when it comes to job growth, but remarkable improvement has been made in the last 12 months,” Webb said. “Employment did dip in July. This is not too surprising, given the moderation of growth that is taking place nationally.”
He said Mississippi added about 25,000 jobs in the past 12 months, after losing jobs in 2009 and 2010 and having flat employment in 2011.