The Mississippi Department of Employment Security has announced the latest information regarding the job rate in Mississippi which is currently near a historic high while the unemployment rate continues to be close to a historic low.
In October, the number of nonfarm jobs in Mississippi rose to 1,168,900, which is the second highest number of jobs ever recorded in Mississippi. The number of jobs in Mississippi increased by 800 in October. Over the year since October 2017, the number of jobs in the state increased by 13,800.
Mississippi’s unemployment rate in October 2018 was 4.7%, the third lowest level of unemployment ever recorded in Mississippi. The October rate is one-tenth of a percentage point lower than a month earlier in September 2018 and one-tenth of a percentage point lower than a year ago in October 2017, when the rate was 4.8%.
The Labor Force is defined as being made up of everyone who has a job or is looking for a job, decreased in October by 1,700 to 1,286,500. Over the year since October 2017, the Labor Force rose by 8,800. The number of unemployed Mississippians decreased by 800 in October to 60,800. Over the year since October 2017, the number of unemployed Mississippians fell by 300.
The number of Mississippians working declined in October by 900 to 1,225,700. For the year since October 2017, the number of working Mississippians in the state increased by 9,100.