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Unemployment Rate Continues To Drop

WATER VALLEY – Yalobusha unemployment for March 2013 is 9 percent, down 1.3 points from last months 10.3 percent.
The most recent MDES figures show 5350 people were employed in March as compared to 5310 in February. That left 530 people out of work in March as compared to 610 in February.
The March labor force was 5880, down from 5920 in February.
Just three years ago in March 2010, the unemployment rate was 13.6 percent. And, just two years before that in March 2008, the rate was 5.6 points less at 8 percent.
In comparison to the five surrounding counties, the Yalobusha unemployment rate was less than Panola (11.6), Tallahatchie (11.7), Calhoun (9.6) and Grenada (9.3); but more than Lafayette (6.7).
Initial unemployment insurance claims went up over the month, going from 37 in February to 42 in March. Continuing claims also went down, going from 498 in February to 427 in March.
The March 2013 initial claims are less than in March 2012 (47) as are the continuing claims (474).
In March 2013, $56,961 was paid in claims as compared to $76,848 in February 2013 and $76,485 in March 2012.
Mississippi’s unadjusted unemployment rate for March 2013 was 8.7 percent, decreasing 1.2 percentage points from the previous month’s rate of 9.9 percent.
The number of unemployed decreased 17,000 over the month, while the employed total increased 5,900 from the prior month.
The Nation’s unadjusted unemployment rate for March 2013 at 7.6 percent was down five-tenths of a percentage point over the month.
For the month of March 2013, only twenty-six counties in Mississippi posted unemployment rates less than or equal to the state’s rate of 8.7 percent. Rankin County posted the lowest unemployment rate for the month of March at 5.1 percent.
Seven counties reported rates greater than 15.0 percent. Clay County had the highest unemployment rate for March at 18.2 percent.

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