Governor Tate Reeves today announced that Mississippians have seen per capita personal income in Mississippi rise by $8,696 since 2019, according to the U.S. Bureau of Economic Analysis and Federal Reserve Bank of St. Louis.
This represents an over 22% pay raise for Mississippians. This increase is more than double the growth in per capita personal income seen in the previous four years for Mississippi.
“Mississippians are learning more and earning more,” said Reeves. “We made it a priority to increase wages, expand job opportunities, and improve education in Mississippi and that’s what we’ve done. It seems like every week there is more good news coming out about Mississippi. This is just one more example of the incredible momentum our state has.”
The nearly $8,700 rise in per capita personal income is yet another major economic milestone for the state. In May 2023, Mississippi’s unemployment rate reached an all-time low for the third consecutive month.
Additionally, in 2022, Mississippi set a record in new private capital investment when it finalized over $6 billion in new economic development projects. This includes the largest economic development project in Mississippi’s history, a $2.5 billion investment that will create 1,000 jobs with an average annual salary of almost $100,000.