Mississippi Today
Nation’s debt default would hurt Mississippi’s already fragile jobs market more than most
Mississippi's already lackluster employment numbers would be impacted more than most states if Congress does not raise the debt limit to pay the nation's bills.
If there is a long-term lapse in the nation's ability to pay its debt, the state could lose as many as 64,000 jobs or 5.4% of its workforce, according to a recent report by Moody's Analytics, a subsidiary of Moody's credit rating agency. In a short-term scenario, Mississippi would lose as many as 21,700 jobs or 1.23% of its workforce. Moody's predicts only five states would lose a larger percentage of their workforce than Mississippi.
“The blow to the economy would be cataclysmic,” Moody's said of a “prolonged breach” of the debt limit. Moody's reasons that states that depend more on federal revenue would be the ones most negatively impacted if the nation defaults on its debt.
The Republican leadership of the House is currently refusing to raise the nation's debt limit to pay past commitments made by Congress unless multiple cuts are made to future spending. Congressional leaders and President Joe Biden currently are negotiating a deal that will result in raising the credit limit. If no deal is reached, projections are the nation could be unable to pay its debt starting in early June.
The debt limit debate comes as Gov. Tate Reeves has touted the state's job growth as part of his reelection campaign. The Republican Reeves will likely face Democratic Northern District Public Service Commissioner Brandon Presley in the November general election.
After April's unemployment rate of 3.4% was announced for Mississippi, Reeves said: “Reaching a record low unemployment rate in back-to-back months speaks volumes to Mississippi's momentum. Our education system is thriving, jobs are plentiful, and there are more opportunities than ever before. We're making historic investments in workforce development and infrastructure and are attracting thousands of high-paying jobs to every region of the state. It's a great day to be a Mississippian.”
Despite those low unemployment numbers, data from the U.S. Bureau of Labor Statistics reveals that there were fewer Mississippians working in April of this year than in April 2022. In April 2023, 1.212 million were employed — 8,089 fewer than were working a year ago.
April marks the seventh consecutive month where there were fewer Mississippians working than in the prior year, according to BLS data. There are 2,073 fewer jobs in April 2023 than in January 2020 when Reeves took office, though April 2023 numbers are still preliminary.
Employment numbers have been tenuous in Mississippi for some time. The state's highest levels of employment occurred in May 2000, when there were 1.24 million employed. That number has never been surpassed.
Mississippi's labor force participation rate also peaked in early 2000, when 62.85% of the people eligible to work were employed. The state's rate is currently at 54.5% and trails the national average of 62.9% and all other states with the exception of West Virginia.
Responding to those numbers in the past, Reeves has said there are jobs available for people who want to work.
But those jobs pay less than jobs in other states. Mississippi has the lowest mean or average household income at $65,156 per year. Mississippi has trailed the rest of the nation in per capita income for decades, though Reeves points out per capital income has increased by 21% or $8,100 since 2019.
Wages in Mississippi, like in the rest of the nation, have been increasing since the pandemic. Personal income in Mississippi grew by an annualized rate of 4.1% between the third and fourth quarters of 2022. During the same period, the nation's personal income grew by an annualized rate of 7.4%, according to the Bureau of Economic Analysis.
This article first appeared on Mississippi Today and is republished here under a Creative Commons license.
Mississippi Today
On this day in 1983
May 6, 1983
A federal judge sentenced Raymond Bledsoe to life for beating Black jazz saxophonist Steven Harvey to death in a Kansas City park because of his race.
A Missouri jury had acquitted Bledsoe of murder, and afterward, he reportedly bragged to his girlfriend about killing a “n—–” and getting away with it.
Harvey's family members, Alvin Sykes and the Steve Harvey Justice Campaign convinced federal authorities to pursue the case. At the time, the conviction was reportedly the fourth under the Civil Rights Act of 1968.
In 2013, federal corrections authorities denied parole to Bledsoe. To date, he remains the longest serving inmate convicted under that Civil Rights Act.
Sykes later helped bring about both the Justice Department's reopening of the Emmett Till case and the passage of the Emmett Till Unsolved Civil Rights Crime Act.
Sykes died in 2021, and his New York Times obituary read, “Though he never took a bar exam, Mr. Sykes was a brilliant legal and legislative operator whose admirers included City Council members, politicians and U.S. attorneys general from both parties. … He led a monk's life in the name of social justice. He rarely held a job, wore second hand clothing and lacked a permanent address for long stretches of time, staying with friends instead and living off donations and, later, speaker fees. He never learned to drive and so walked everywhere, most often to the reference section of the library in Kansas City, Missouri, where he did his research, or to a booth at a restaurant that he used as an informal office, his papers surrounded by cups of coffee and stubbed-out cigarettes.”
This article first appeared on Mississippi Today and is republished here under a Creative Commons license.
Mississippi Today
Podcast: How the 2024 Medicaid expansion debate died
Mississippi Today's Adam Ganucheau, Bobby Harrison, Geoff Pender, and Taylor Vance discuss the breakdown of Medicaid expansion negotiations in the Legislature.
This article first appeared on Mississippi Today and is republished here under a Creative Commons license.
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Mississippi Today
On this day in 1917
May 5, 1917
Eugene Jacques Bullard became the first Black American combat pilot.
After the near lynching of his father and hearing that Great Britain lacked such racism, the 12-year-old Georgia native stowed away on a ship headed for Scotland. From there, he moved to Liverpool, England, where he handled odd jobs before becoming a boxer, traveling across Europe before he settled in Paris.
“It seems to me that the French democracy influenced the minds of both White and Black Americans there and helped us all to act like brothers as near as possible,” he said. “It convinced me, too, that God really did create all men equal, and it was easy to live that way.”
When World War I began, he was too young to fight for his adopted country, so he and other American expatriates joined the French Foreign Legion. Through a series of battles, he was wounded, and doctors believed he would never walk again.
No longer able to serve in the infantry, an American friend bet him $2,000 that he could not get into aviation. Taking on the challenge, he earned his “wings” and began fighting for the French Aéronautique Militaire.
He addressed racism with words on his plane, “All Blood Runs Red,” and he nicknamed himself, “The Black Swallow of Death.”
On his flights, he reportedly took along a Rhesus monkey named “Jimmy.” He tried to join the U.S. Air Service, only to be turned away because he was Black. He became one of France's most decorated war heroes, earning the French Legion of Honor.
After the war he bought a Paris nightclub, where Josephine Baker and Louis Armstrong performed and eventually helped French officials ferret out Nazi sympathizers. After World War II ended, he moved to Harlem, but his widespread fame never followed him back to the U.S.
In 1960, when French President Charles de Gaulle visited, he told government officials that he wanted to see his old friend, Bullard. No one in the government knew where Bullard was, and the FBI finally found him in an unexpected place — working as an elevator operator at the Rockefeller Center in New York City.
After de Gaulle's visit, he appeared on “The Today Show,” which was shot in the same building where he worked.
Upon his death from cancer in 1961, he was buried with honors in the French War Veterans' section of the Flushing Cemetery in Queens, New York.
A sculpture of Bullard can be viewed in the Smithsonian National Space and Air Museum in Washington, D.C., a statue of him can be found outside the Museum of Aviation, and an exhibit on him can be seen inside the National Museum of the U.S. Air Force, which posthumously gave him the rank of a second lieutenant. He is loosely portrayed in the 2006 film, “Flyboys.”
This article first appeared on Mississippi Today and is republished here under a Creative Commons license.
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