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Economist Warns Long, Slow Economic Recovery Ahead

JACKSON, MS (Ben Caxton) — State economist Darrin Webb says Mississippi can expect a long, slow economic recovery from lost jobs and the steep decline in commercial activity due to government-ordered coronavirus shutdowns. On Tuesday Webb told legislators that the brakes were slammed on the economy in March and it could be three years before the state returns to 2008 levels for jobs and economic activity. Lawmakers will spend the next few weeks deciding whether to trim state agencies’ budgets for the year that ends June 30th and set a new budget for the year that begins July 1st. Mississippi tax collections exceeded expectations for the first eight months of the budget year but have fallen sharply. The state also delayed its income tax filing deadline from April 15 until July 15, which means some money that should be collected during the current budget year will be collected next year.

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