Mississippi state economist says the state is poised for its strong and steady growth and finally return to normal trends. There are still troubles ahead for many average Mississippians.
State Economist Derrin Webb addressed a group of key lawmakers with an update and predictions, on the direction of the Mississippi economy.
Webb is predicting the return of strong revenue and Gross domestic product growth over the next several years largely on the back of an improving national economy.
However, he cautioned that job creation, and in particular wage growth, are still problem areas.
"I think the biggest trouble spot is income growth. That is true nationwide as well as in Mississippi. Nationally, job growth has been very strong. But most of those jobs have been low skill and low wage. So what we really need is income growth," Webb said.
Webb says for the first time in years he feels optimistic about the direction of the state economy.
The report is good news for legislators who have a keen eye on revenue.
However, Speaker of the House Phillip Gunn says he is not ready to pop the Champaign.
"We are optimistic but cautious. The rebound is not going as quickly as we would like. But none the less, the economy is recovering," Gunn said.
Gunn also says he is prepared to tell state agencies 'no' if they come to the Capitol looking for big budget increases.
The budget is normal not finalized until the end of the session.
