October Jobless Rates Increases

October Jobless Rates Increases

By David Howell

Editor

WATER VALLEY – Yalobusha County’s unemployment rate of 6.3 percent for October is up two-tenths of a percentage point over the September rate.

The latest figures from the Mississippi Department of Employment Security show that Yalobusha County’s unemployed rate is four-tenths of a percent point above the state average of 5.9 percent.

According to MDES estimate, 4,960 were employed during the month out of a total labor force 5,290 in the county.  A year ago in October, MDES reported 4,580 people in the county were employed out of a smaller estimated labor force of 5,000.

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 October 2010 the unemployment rate was a high of 11.9 percent. The current rate is the lowest for October during the five-year period. In comparison to the five surrounding counties, the Yalobusha unemployment rate was less than Panola (8.1) and Tallahatchie (6.4) but higher than Calhoun (5.5), Grenada (5.7) and Lafayette (4.4). 

Initial unemployment insurance claims went up over the month from 20 in September to 36 in October. And, continuing claims went down from 169 in September to 161 in October. MDES paid $20,492 for unemployment benefits in October, as compared to $24,699 in September and $33,006 a year ago.

Mississippi’s unadjusted unemployment rate for October 2015 was unchanged over the month at 5.9 percent. When compared to the October 2014 rate of 7.2 percent, the rate decreased 1.3 percentage points.