According to the Mississippi Department of Employment Security, for the second month in a row, Montgomery County's unemployment rate increased from 15.1 percent in June to 15.8 percent in July. With Mississippi's statewide unemployment at 11.5 percent, Montgomery County is ranked 68th of Mississippi's 82 counties in unemployment. Nationwide, the U.S. has a 9.7 percent unemployment rate. Despite increasing unemployment percentages, local sales tax disbursements have increased since last year.
In Winona, sales tax disbursements to the city have increased from $80,457 last year to $86,464 this year. Duck Hill saw an increase as well, from $2,018 to $3,309.
Kilmichael was the only Montgomery County municipality that decreased in sales tax disbursements from last year, from $6,766 to $6,672.
Sue Stidham, executive director for the Montgomery County Economic Development Partnership said she believes sales tax is increasing because local people are choosing to shop at home.
"If you are looking at retail, Montgomery County has stayed strong," Stidham said. "The surrounding counties are doing well in retail as well."
Stidham said with the summer months being traditionally slower business months, this could account for an increase in unemployment, but with the holiday season just around the corner, she believes unemployment will decrease as retailers hire additional employees to help with the Christmas rush.
"I feel like retailers will hire Christmas help," Stidham said.
In addition to increased sales tax, Stidham said in recent months, Winona has seen an influx of new businesses opening.
"I think we are seeing the comeback of the entrepreneurial spirit," Stidham said. "People are seeking a new way to make a living. That is what America is all about - dreams and doing something to make those dreams come true."
Stidham said she is amazed at the number of ribbon cuttings in the county over the last few months, and she is excited to see the success of the county's locally-owned businesses.
"We've gone from being a nation of producers to a nation of consumers, and this brings more entrepreneurs to open retail establishments," she said.
Post a Comment