Local reporter shares her research on Coast BP development
Sun Herald Investigative Reporter Anita Lee spoke to the Gulf Coast Business Council today about the spending of money from the BP oil catastrophe and economic development.…
economy
US economy shrinks for a 2nd quarter, raising recession fear
WASHINGTON (AP) — The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising fears that the nation may be approaching a recession. The decline that the Commerce Department reported…
Fed unleashes another big rate hike in bid to curb inflation
By CHRISTOPHER RUGABER WASHINGTON (AP) — The Federal Reserve on Wednesday raised its benchmark interest rate by a hefty three-quarters of a point for a second straight time in its most aggressive drive in three decades to tame high inflation.…
US inflation surges again in June, raising risks for economy
By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) - Surging prices for gas, food and rent catapulted U.S. inflation to a new four-decade peak in June, further pressuring households and likely sealing the case for another large interest rate hike…
Gas prices dropping slightly
At the height of the summer driving season, Americans are finally catching a break at the pump. After months of record highs, gas prices are starting to come down. The national average…
A robust June jobs report clouds outlook for US economy
By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) - A strong hiring report for June has assuaged fears that the U.S. economy might be on the cusp of a recession - and highlighted the resilience of the nation’s job market.…
Sports Illustrated Resort possibly coming to the Gulf Coast
D’Iberville is looking to build one of the first-ever Sports Illustrated Resorts on the Gulf Coast. The resort, which would be named Blue Water Beach, would be…
Biden to call for 3-month suspension of gas and diesel taxes
By JOSH BOAK WASHINGTON (AP) — President Joe Biden on Wednesday will call on Congress to suspend federal gasoline and diesel taxes for three months — a move meant to ease financial pressures at the pump that also reveals the…
US inflation at new 40-year high as price increases spread
By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) - The prices of gas, food and most other goods and services jumped in May, raising inflation to a new four-decade high and giving American households no respite from rising costs. Consumer…
US jobless claims unchanged at 205,000
By PAUL WISEMAN AP Economics Writer The number of Americans applying for unemployment benefits was unchanged last week, remaining at a historically low level that reflects the job market's strong recovery from the coronavirus recession last year. Jobless claims remained…
Holiday shopping rush impacts local economy
‘Come see what’s set in Stone’ that’s the motto for businesses in Stone County heading into the holiday season. Stone County's economy is already seeing the positive effects of holiday…
City of Gautier purchases Singing River Mall property
The City of Gautier makes a big purchase: the former Singing River Mall property. The city closed on the purchase today. The 55-acre parcel will be revitalized as…
Ocean Springs businesses buckle up for Peter Anderson Festival
Businesses in Downtown Ocean Springs are preparing for the weekend’s 43rd annual Peter Anderson Arts and Crafts Festival. The festival, honoring the renowned master potter of the…
New company coming to the Port of Gulfport
The Mississippi State Port Authority at Gulfport has a new tenant and more jobs coming to the east pier. Ocean Aero will occupy 67,000 feet of warehouse space…
US jobless claims near pandemic low as economy strengthens
WASHINGTON (AP) — The number of Americans seeking unemployment benefits fell for a third straight time last week, the latest sign that employers are laying off fewer people as they struggle to fill a record number of open jobs and…
U.S. job openings hit a record 10.1 million in June
By PAUL WISEMAN AP Economics Writer WASHINGTON (AP) - U.S. employers posted a record 10.1 million job openings in June, another sign that the job market and economy are bouncing back briskly from last year’s coronavirus shutdowns. The Labor Department…
US jobless claims down 14,000 to 385,000 as economy rebounds
WASHINGTON (AP) — The number of Americans applying for unemployment benefits fell last week by 14,000 to 385,000, more evidence that the economy and the job market are rebounding briskly from the coronavirus recession. The Labor Department reported Thursday that…
Gulf Islands National Seashore creates $225 million in economic benefit
OCEAN SPRINGS, Miss. – In the year 2020, more than 4 million visitors to Gulf Islands National Seashore spent $180 million in nearby communities, according to a new National Park Service report. The 2020 revenue contributed to 2,390 jobs in…
Less restrictions at the Seabee base to lead to economic boost
Military bases in South Mississippi have long been a mainstay and critical to our overall economy, especially during COVID shutdowns considering our local bases depend on the federal budget, which was already set, resulting in more stability for our…
Local restaurants in need of help along the Gulf Coast
With Governor Tate Reeves lifting the statewide mask mandate and tourists flooding back to the Gulf Coast for spring break and the summer season, local restaurants have been struggling to find employees. This time last year, the…
Business owners react to planned Fort Bayou Drawbridge closure
With just a few days left until the closure of the Fort Bayou Drawbridge, business owners are talking about how it will impact their businesses. For five years, Pat Taranto has operated his seafood business on the…
New life coming to downtown area in Pascagoula
New life is literally flowing into the downtown area of Pascagoula in an overall revitalization effort that started more than a decade ago, but is now gaining momentum. Pascagoula business owner Richard Chenoweth always sees the glass…
‘Restaurants Act’ would create $120B fund
Some restaurants took a double whammy hit last year due to Zeta and the COVID pandemic. Restaurants are among the most adversely-impacted industries overall, especially when it comes to COVID restrictions and guidelines. A number of local…
South Mississippi businesses stocking up for Super Bowl Sunday
The clock is ticking down with just six days left to go before Super Bowl Sunday. Super Bowl 55, it’s sure to be one to go down in the books and not just the sports books! COVID-19…