MDES: Unemployment rate drops to historic low

(The following is a press release from the Mississippi Department of Employment Security.)

This is the latest information announced today by the Mississippi Department of Employment Security. Mississippi’s unemployment rate fell in January 2018 to 4.6%, which is the lowest level of unemployment ever recorded in Mississippi. The January rate is two-tenths of a percentage point lower than a month earlier in December 2017 and eight-tenths of a percentage point lower than a year ago in January 2017, when the rate was 5.4%. The number of non-farm jobs in Mississippi rose by 600 in January to 1,162,600, which are the most jobs ever recorded in Mississippi. Over the year since January 2017, the number of jobs in our state increased by 12,200. These numbers are based on a survey of employers. That employer survey is recognized as the most reliable indicator of job growth. The Labor Force, which is made up of everyone who has a job or is looking for a job, decreased in January by 2,500 to 1,275,000. Over the year since January 2017, the Labor Force fell by 7,500. The number of people working in Mississippi rose in January by 100 to 1,216,700. For the year since January 2017, employment in our state increased by 3,900. The number of unemployed Mississippians fell by 2,600 in January to 58,300, which is the lowest number of Mississippians without jobs since August 1979. Over the year since January 2017, the number of unemployed Mississippians decreased by 11,400.