The State of Mississippi Income Charts

This section shows the Mississippi economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Mississippi depicts it has a Median earnings of $41,963 which is in the mid range of other states in the local area. The state with the highest median earnings per worker in the group is Kentucky which depicts a median earnings of $46,067 (9.8% larger).

In Figure 2 a more complete view of income is shown which aggregates income from all members in the household and it has a Median household income of $49,111 which is in the mid point range of other states in the metro area. The state with the highest median household income in the group is Tennessee which depicts a median income of $58,516 (19.2% larger).

The next section examines a variety of different income statistics for the Mississippi metropolitan area. In Figure 3 we see that it it has the largest proportion of earnings less than $10,000 at 7.7% of the total and is ranked #1. Second, it has the largest proportion of earnings between $10,000 and $14,999 at 7.6% of the total and is ranked #1. Third, it has the largest proportion of earnings between $15,000 and $19,999 at 34.8% of the total and is ranked #1. Also, it has the smallest proportion of earnings between $20,000 and $49,999 at 19.7% of the total. In addition, it has the smallest proportion of earnings between $50,000 and $74,999 at 6.6% of the total. Furthermore, it has the smallest proportion of earnings between $75,000 and $99,999 at 6.8% of the total. Dividing median annual worker earnings by the average number of hours worked in a year in Figure 4 shows that it has a Avg Hrly Earnings of $20.43 which is in the center range of other states in the metro area. The state with the highest average hourly earnings in the group is Kentucky which depicts an average hourly earnings of $22.72 (11.2% larger).

Figure 5 examines the number of self employed people in the Mississippi metro area based on the number of people who reported any self employment income. Mississippi depicts it has a Self Employed of 8.7% which is in the mid range of other states in the area. The state with the highest percentage of people self employed in the group is Tennessee which shows a percentage self employed of 11.1% (28.5% larger).

Figure 6 breaks down the source of income and Mississippi has the smallest proportion of income from wages at 4.4% of the total. Second, it has the largest proportion of investment and retirement income at 9.9% of the total and is ranked #1. Third, it has the largest proportion of social security at 1.2% of the total and is ranked #1.

The next chart (Figure 7) shows the percentage of households that had retirement income over the last 12 months and it has a With Retirement Income of 22.1% which is the third most households with retirement income of all other states in the greater Mississippi region. The state with the highest households with retirement income in the group is Alabama which shows a households with retirement income of 24.2% (9.7% larger).

The percentage of full-time workers are compared to the number of part-time workers in Figure 8. Mississippi shows full time employees approximately 4.2 times bigger as the part time employees.

Similar to the last chart is Figure 9 which shows the number of people who are self employed but in more detailed industry categories such as manufacturing, retail sales, residential real estate, commercial real estate, health care, exports/imports, and advanced industries, etc. the state of shows it has the hightest entrepreneurs of 18% for the self employed in professional, scientific, management, administrative services classification.

Figure 10 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Mississippi depicts it has the hightest cost of 118.1 for the cost of utilities group.

The State of Mississippi Poverty Charts

In Figure 11 the percentage of people earning less than the poverty level is shown and compared across the group of places. Mississippi shows it has a Percent of Population In Poverty of 19.4% which is the largest of all states in the greater Mississippi region. Additionally, Figure 12 looks at the percentage of people who receive some form of public assistance including general assistance, temporary assistance or food stamps (i.e. SNAP.) the state of shows it has a Public Assistance Percent of 14.7% which is the highest of all states in the local area.

The State of Mississippi Labor Force Charts

The table in Figure 13, shows Mississippi employment data in terms of job categories and salary data.

The next two charts look at monthly trended employment related performance using data estimated by economists at the Bureau of Labor Statistics (BLS). The BLS tracks unemployment statistics for a large number of areas throughout the country on a month to month basis. However, not every location in the U.S. is tracked by the BLS so the chart will only show the closest location available (which may be the same location.) Figure 14 shows the monthly unemployment rate for the area as well as a comparison to the overall national economy measure for the United States. Note that in March to April 2022, the Covid 19 recession occurred and affects this metric. The monthly unemployment rate indicates that from January 2017 to before the disasterous Covid-19 virus Pandemic it went from 5.7% to 6.7% in March 2020. This represents an increase in the monthly unemployment rate of 17.5%. Since that time, the monthly unemployment rate has gone to 3.1%. This represents a decrease in the monthly unemployment rate of 53.7%.

The State of Mississippi Jobs Charts

In the jobs section of economic activity charts in Figure 15 shows the average annual earnings for very high level job industry categories for full time and year round employed.

Figure 16 shows the average median earnings for different categories of jobs.

The State of Mississippi Work Commute Charts

The following set of charts detail a variety of metrics that have economic impact, economic grow factors and economic development metrics in the Mississippi community and has an impact on other factors such as economic growth, population growth, economic recovery, job growth, etc.. Figure 17 shows a high level view of how the population commutes to work (including the percent of people who work from home.) Mississippi has the smallest proportion of people who drive a car or motorcycle to work at 0% of the total. Second, it has the smallest proportion of people who bicycle or walk to work at 4% of the total. Figure 18 shows a more detailed view of how the population commutes to work for (for example to downtown Mississippi or elsewhere.) Mississippi has the largest proportion of people who drove alone at 84% of the total and is ranked #1. Second, it has the smallest proportion of people who take the bus at 0% of the total. Third, it has the smallest proportion of people who take Light rail, streetcar or trolley at 0% of the total. Also, it has the largest proportion of people who take the ferry at 0% of the total and is ranked #1. In addition, it has the smallest proportion of people who bike at 0% of the total. Furthermore, it has the largest proportion of people who took a taxicab, motorcycle or other at 1% of the total and is ranked #1. Next it has the smallest proportion of people who work from home at 4% of the total.

Figure 19 is provided for comparison purposes to the previous chart. It shows how people get to work overall on average in the United States.

The average commute time is shown in Figure 21. the state of depicts it has a Avg Commute Time of 25 which is the second most of all the states in the local area.