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Unemployment In October Is Up

By Jack Gurner

WATER VALLEY – Yalobusha County’s unemployment rate for October was up from September and also rose more than two percent from October of last year, according to the latest figures released by the Mississippi Department of Employment Security.

The October figure of 9.7 percent unemployment is the highest recorded for the month for the previous five years by about 2.5 percent on average, according to statistics from the MDES.

Unemployment in the county was also higher than the surrounding five counties for the month.

Mississippi’s not seasonally adjusted unemployment rate fell to 6.9 percent for the month. Employment increased by 3,400 while unemployment fell by 8,600 causing the labor force total to shrink by 5,200.

When compared to prior year amounts the rate was nine-tenths of a percentage point higher than the October 2007 rate of 6.0 percent. During October Mississippi was one of only five states to record an over the month decrease in the seasonally adjusted unemployment rate series.

Twenty-seven counties in Mississippi posted unemployment rates less than or equal to the state’s rate of 6.9 percent. Rankin County reported the lowest unemployment rate for the month of October 2008 at 4.4 percent followed by Lafayette and Lamar Counties at 4.7 and 4.8 percent respectively.

Historically Mississippi’s unemployment rate has declined over the month from October to November, primarily due to seasonal holiday hiring. Only time will tell if that trend will be seen during November 2008.

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