New jobs brief outlines impact of recession in Mississippi
May 22, 2009
FOR IMMEDIATE RELEASE CONTACT: Ed Sivak, 601-944-4174 May 22, 2009 e-mail: esivak@mepconline.org
New jobs brief outlines impact of recession in Mississippi
Paper encourages policy changes to offset recession’s impact
JACKSON – The Mississippi Economic Policy Center has issued a new paper that outlines several key facets of job loss in Mississippi since the start of the current recession. The paper, called “The National Recession in Context – How is Mississippi Faring?” reports that since December 2007, the start of the current recession, Mississippi has lost an estimated 39,600 jobs. The magnitude of the job loss is greater than in the two previous recessions.
Even with a slight decrease in the state unemployment rate from March 2009 to April 2009, the rate has increased by three percentage points since December 2007. That is more of an increase than Louisiana and Arkansas, but less of an increase than Alabama and Tennessee. Mississippi’s unemployment rate is higher than those in Alabama, Louisiana and Arkansas.
“As job loss continues, it is important to continue and to build on opportunities that support working families,” said Ed Sivak, director of MEPC. “When we stabilize working families, we stabilize communities.”
The paper recommends that Mississippi make the necessary changes to receive funds for the unemployed that are available through the Unemployment Insurance Modernization Act, a provision of the federal stimulus package that provides funding to states that make specific changes to their unemployment insurance systems. The paper also recommends that Mississippi make changes to another part of its Unemployment Insurance laws that regulate assistance to the long-term unemployed through Extended Benefits. A change could be made so that long-term unemployed workers could become eligible to receive assistance sooner than under existing regulations. Extended Benefit payments made through the end of 2009 for the long-term unemployed are funded by the federal government.
The paper is available online at www.mepconline.org. The Mississippi Economic Policy Center is an independent, nonpartisan initiative that undertakes rigorous and timely analysis on issues that affect the economic and social well-being of working families and low-wealth Mississippians.
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