Thursday, June 24, 2004

Mississippi's unemployment trending below national average

For the past six months Mississippi's unemployment rate has been lower than the national average, following a trend showing the South is leading the country in job creation. The April unemployment rate in Mississippi was 4.6%, compared to the national rate of 5.4% and Mississippi's rate a year ago was 6.3%.

According to the Mississippi Development Authority (MDA), new facilities and expansions of existing business from January through May of 2004 in Mississippi are expected to create 4,627 new jobs. MDA said there has been 73 new facilities announced, which are expected to create an estimated 1,917 new jobs and bring in an estimated capital investment of approximately $544.16 million.

The largest new facilities unveiled were Textron Fastening Systems in Greenville (500 jobs), Faurecia in Cleveland (250 jobs), D&G Foods in Gallman (200 jobs) and Lowe's Home Improvement Warehouse in Starkville (175 jobs). The largest expansions were ATK Southern Composites Center in Iuka (300 jobs), M-TEK Mississippi Inc. in Gluckstadt (153 jobs), Cingular Wireless Customer Service Center in Ocean Springs (150 jobs) and Pioneer Aerospace Corporation in Columbus (110 jobs).

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