Economic Impacts of Private Households in Coastal Mississippi and Alabama

Sector Definition

The private household sector consists of NAICS code 814110 or “Private Households”. 
  1. This industry comprises private households primarily engaged in employing workers on or about the premises in activities primarily concerned with the operation of the household.
  2. These private households may employ individuals, such as cooks, maids, nannies, butlers, and outside workers, such as gardeners, caretakers, and other maintenance workers.

Gross Regional Product of Private Households in the Five Coastal Counties of Mississippi and Alabama

  1. The gross regional product (GRP) also called regional gross domestic product (GDP) is the market value of all goods and services produced within a given area over a specific period of time and is a good measure of the size, income, and productivity of a regional economy (EMSI, 2021).
  2. The GRP of the five coastal counties is shown in the chart below.
  3. Significant reductions in GRP are observed during the start of the pandemic. 

Source of raw data: EMSI (2021). 

 

Direct Employment Impacts of Private Households in the Five Coastal Counties of Mississippi and Alabama

  1. Direct employment by private household businesses in the coastal counties of Mississippi and Alabama started to decline in 2017 but dropped significantly during the pandemic starting in 2020. 
  2. On the other hand, the annual wages, salaries, and incomes (WSE) of businesses serving private households started to climb in 2018 and reached their peak in 2020.  

Source of raw data: EMSI (2021). 

Economic Impacts of MASGC Research, Education, and Outreach Programs in the Five Coastal Counties of Mississippi and Alabama

  1. Many research, education, and outreach programs of the Mississippi-Alabama Sea Grant Consortium (MASGC) targeted coastal households in the region.
  2. The chart below shows the estimated economic impacts of these programs during the past seven years.
  3. It was assumed that only one percent of the total number of workers and owners of private household businesses were supported by the MASGC programs.
  4. Annual economic impacts of MASGC programs were computed by multiplying the number of supported jobs by annual wages, salaries, and incomes (WSE). 
  5. As the number of jobs declined during the pandemic, the economic impacts of MASGC programs for the private household sector also went down.