The Mississippi unemployment rate is near historic lows and the number of Mississippians with jobs is at a ten-year high. According to the Mississippi Department of Employment Security, Mississippi’s unemployment rate in July 2018 was 4.8%, the fourth lowest level of unemployment ever recorded in Mississippi.
The July rate is one-tenth of a percentage point higher than a month earlier in June 2018 and three-tenths of a percentage point lower than a year ago in July 2017, when the rate was 5.1%.
Over the year since July 2017, the number of jobs in our state increased by 13,600. These job numbers are based on a survey of employers. That employer survey is recognized as the most reliable indicator of job growth.
For the fourth month in a row, the Labor Force, which is made up of everyone who has a job or is looking for a job, increased in July by 3,400 to 1,284,900. Over the year since July 2017, the Labor Force rose by 5,000.
The number of non-farm jobs in Mississippi declined by 2,800 in July to 1,164,100, which is the sixth highest number of jobs ever recorded in Mississippi.
As more individuals entered the labor force, the number of unemployed Mississippians increased by 500 in July to 61,100; however, over the year since July 2017, the number of unemployed Mississippians fell by 4,200.
The number of people working in Mississippi rose in July by 2,900 to 1,223,800, which is the highest number of Mississippians with jobs since June 2008. Since July 2017, employment in Mississippi increased by 9,200.