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November Jobless Rate Eases Down

By Jack Gurner

WATER VALLEY – Yalobusha County’s unemployment rate of 7.2 percent for November is down eight-tenths of a percentage point over the October rate.
The latest figures from the Mississippi Department of Employment Security show that Yalobusha County’s November unemployment rate is eight-tenths of a point above the state average of 6.4 percent.
According to MDES estimates, 4,970 people were employed during the month out of a labor force of 5,350 as compared to 5,020 employed during October out of a labor force of 5,460. A year ago in November, 5,010 people were employed out of a labor force of 5,460.
The labor force is defined by MDES as the estimated number of people eligible for work or actively seeking employment. But, those figures don’t include people who have given up looking for work or are no longer participating in the labor force.
Five years ago in November 2009, the unemployment rate was at a high of 13.2 percent. The current rate is the lowest for November during the five-year period.
In comparison to the five surrounding counties, the Yalobusha unemployment rate was less than Panola (9.0) and Tallahatchie (7.7) but higher than Calhoun (7.1), Grenada (6.5) and Lafayette (4.5).
Initial unemployment insurance claims went up over the month from 32 to 45. And, continuing claims went down from 205 in October to 192 in November.
The November 2014 initial claims (45) are less than the 49 in November 2013, and the continuing claims are considerably lower (192) than the year ago figure of 477.
MDES paid $25,091 in Yalobusha for unemployment benefits in November as compared to $32,776 in October and $71,825 a year ago.

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