Economic news across the country looks good heading into 2020.
We hope that news will be good for Clarksdale and Coahoma County this year.
For the first time in U.S. history the U.S. economy started and ended an entire decade without entering a recession, as the economy has expanded for 126 straight months.
The national economic outlook predicts the economy to expand at just under the ideal number of 3-percent. And being just under 3-percent will also quell inflation fears.
Job growth has been one of the highlights of this national economic boom and Clarksdale and Coahoma County have benefitted from it, too.
We had three major economic development announcements over the past 12 months with an estimated 300 actual jobs added to our community. In a county with a labor force of 8,500 that is a hefty number.
Your Clarksdale Press Register would also like to point out few communities our size in this state have seen this kind of growth. Certainly no city in the Delta has seen this kind of growth.
State numbers tell us December was a good month for the service sector – hospitals, government, banking, insurance, franchises, retail sales and education – all saw growth. And a look at the service sector list shows a lot of local jobs in this category, too.
Retailers we have talked to have been mixed on Christmas sales. Bigger, high profile stores seemed to have fared well. Smaller businesses continue to be squeezed by on-line shopping and a trip to Batesville or Memphis.
Ag producers had a good harvest. They have already begun their winter purchases and will start their spring planting spending in a couple of months.
Coahoma County had 7.1-percent unemployment rate in December, and those who will work are. Solid job growth last month cut the nation’s jobless rate to 3.3 percent and indicates the national economy is strong. Mississippi’s unemployment rate is 5.5-percent.
Yes, some national economists are predicting a recession in 2020, but most people around here are more plugged into what is happening on Main Street rather than Wall Street.
It’s true, national economic news does not always indicate people are making money hand-over-fist around here.
We do think it is an indicator that 2020 could be a very good year for those who can capitalize on a national economy that is getting stronger day by day.
Your Clarksdale Press Register does believe 2020 will be another good year for our town and county. As always we encourage people to spend their hard-earned dollar in local stores and support local businesses and industry in all they do.
If we will all do our part and build on the positive, this could be a happy new year for everybody.
-30-
