Mississippi records sixth month of record-low unemployment

(The Center Square) – Mississippi recorded its sixth consecutive month of record unemployment, but the state’s labor force participation rate remains below the national average.

According to data from the U.S. Bureau of Labor Statistics, the state’s seasonally adjusted unemployment rate dipped slightly to a record 2.7%, down slightly from last month (2.8%) and lower than the national average of 4.5%.

The jobs market hit a new high water mark of 1.19 million nonfarm jobs, seasonally adjusted, with the job gains totaling 3,000 for the month and 13,700 for the year. Trade, transportation and utilities had the largest increase in July.

There were 41,900 unemployed people in July in Mississippi, a 12.4% decrease from June (47,100 unemployed). In July 2023, there were 48,300 unemployed people on the rolls.

Initial unemployment claims were up slightly in July, as 5,721 submitted claims compared to 5,652 in June and 5,459 during the same time last year.

Continued claims were up to 42,684 in July compared to 37,506 in June.

The July seasonally adjusted labor force participation rate – which is defined as the percentage of those either working or seeking work – was at 54.2%, trailing the national rate of 62.7%. It is higher than the same time last year (53.9%).

Mississippi’s rate is the worst regionally, trailing Tennessee (59.5%), Florida and South Carolina (both with 58.8%), Louisiana (58.6%) and Alabama (57.8%).

Thirty out of the state’s 82 counties had unemployment rates equal to or less than the state’s unadjusted rate of 3.3%, led by Rankin and Union counties at 2.3%. Lamar County in the Hattiesburg metro area was next at 2.6%.

Four counties – Covington, Lafayette, Madison and Scott – were all tied at 2.7%.

Jefferson County in southwest Mississippi had the highest unemployment rate at 13%, followed by nearby Claiborne County with 8.7%, Issaquena at 6.4% and Humphreys at 7.6%.