Economic & Workforce Comparison
MCEDA Economic Overview
MCEDA ECONOMIC OVERVIEW REPORT
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Figure 1: ECONOMIC Overview |
MADISON COUNTY | MEGA SITE 30- MIN DRIVE-TIME | MEGA SITE 45- MIN DRIVE-TIME | JACKSON MSA | MISSISSIPPI | USA | |
| DEMOGRAPHICS | |||||||
| Current Population Estimates | 104,562 | 465,151 | 592,294 | 597,727 | 2,984,418 | 324,697,795 | |
| 2016 Population | 101,791 | 465,374 | 590,036 | 596,642 | 2,989,192 | 318,558,162 | |
| 2011 Population | 93,807 | 455,183 | 575,723 | 584,715 | 2,956,700 | 306,603,772 | |
| *Annual Population Growth | 1.2% | **0.2% | **0.1% | 0.2% | 0.1% | 0.7% | |
| People per Square Mile | 148.7 | 102.1 | 94.5 | 110.0 | 63.4 | 92.9 | |
| Median Age | 37.2 | 35.5 | 36.6 | 36.4 | 37.5 | 38.1 | |
| LABOR FORCE | |||||||
| Civilian Population – age 16 years and over | Current Labor Force Size | 55,528 | 229,059 | 286,537 | 288,614 | 1,334,957 | 163,555,585 |
| Labor Force Participate Rate | 68.4% | 63.1% | 61.9% | 61.4% | 57.0% | 63.2% | |
| 2016 Labor Force Size | 52,562 | 226,134 | 282,664 | 284,165 | 1,341,490 | 159,807,099 | |
| 2016 Labor Participation Rate | 67.0% | 62.8% | 61.9% | 61.3% | 57.6% | 63.3% | |
| 2011 Labor Force Size | 47,987 | 220,704 | 278,506 | 281,397 | 1,345,129 | 155,320,515 | |
| 2011 Labor Participation Rate | 67.4% | 63.9% | 63.4% | 62.9% | 59.2% | 64.7% | |
| Civilian Population – age 25-54 | Current Prime-Age Labor Force Participation Rate | 85.3% | 80.9% | 80.2% | 79.9% | 76.7% | 82.1% |
| 2016 Prime-Age Labor Force Participation Rate | 84.7% | 79.7% | 79.3% | 79.0% | 76.4% | 81.5% | |
| 2011 Prime-Age Labor Force Participation Rate | 84.0% | 80.4% | 80.2% | 79.7% | 77.2% | 82.0% | |
| Unemployment Rate March 2021 (Seasonally adjusted) | 4.8% | **5.9% | **6.0% | 6.8% | 6.4% | 6.5% | |
| Unemployment Rate March 2020 (Seasonally adjusted) | 4.2% | **4.6% | **4.7% | 5.6% | 5.2% | 3.2% | |
| Veterans (Age 18-64) | 2,428 | 12,018 | 15,129 | 15,283 | 89,822 | 9,143,042 | |
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Total Employment (2019 Q4) – All Industries |
60,843 | 289,687 | 289,687 | 287,103 | 1,247,794 | 159,351,268 | |
Top 5 Industry Sectors in Madison County
Total Employment across Top 5 Industry Sectors is – 56,393
SOURCE: JobsEQ, Data as of 2020, Q2
6,083
HEALTH CARE & SOCIAL ASSISTANCE
7,337
RETAIL TRADE
7,703
MANUFACTURING & TRANSPORTATION SERVICES
4,500
Admin & Support / Remediation Services
5,510
ACCOMMODATION & FOOD SERVICES
Industry Cluster within Madison County containing the highest relative concentration is Automotive Manufacturing.
Location Quotient: 6.02 I Employment: 9,869 I Average Wage: $31,825 I Growth Rate: 0.2%
Workforce Training Solutions
RECRUITMENT
PROVIDE EMPLOYERS FREE JOB POSTING SERVICES IN A COMPREHENSIVE ONLINE RECRUITMENT SYSTEM
ONLINE APPLICANT SCREENING
SCREEN APPLICANTS BASED ON THE EMPLOYER’S JOB REQUIREMENTS
PRE-EMPLOY TRAINING
VERIFY THAT APPLICANTS POSSESS THE BASIC SKILLS AND APTITUDES REQUIRED
POST-EMPLOY TRAINING
CUSTOMIZED POST-EMPLOYMENT TRAINING PROGRAMS BASED ON COMPANY’S SPECIFIC NEED
(OJT) ON-THE-JOB TRAINING
REIMBURSE THE COMPANY FOR UP TO HALF OF A NEW EMPLOYEE’S WAGES DURING JOB TRAINING
Whether it’s customized training to meet the needs of employers or offering welding courses at night to meet workforce needs. Holmes Community College has done it.
- Manufacturing Training
- Adult Education
- Career and Technical Programs
- Career Services
- Workforce Innovation and Opportunity Act (WIOA)
- ACT Career Readiness Certificates
Companies in Mississippi can take advantage of MDES’s On-The-Job Training Program in which the employer can be reimbursed up to half the cost of training eligible employees. Also, if the company desires to conduct off-site recruiting, MDES’s WIN Job Centers can arrange to have potential employees screened while offering its facilities for use by employers for job fairs or off-site interviews. MORE INFO»
Source: This summary is based on JobsEO 2018 and DATAUSA
