Panola unemployment rate rises 7/5/2013

Published 12:00 am Sunday, July 7, 2013

Panola unemployment rate rises

By David Howell

Unemployment is up in Panola County by a little more than a percentage point, going from 10.9 in April to 12 in May.

The most recent figures from the Mississippi Department of Employment Security show that 13,480 people were employed in May with 1,830 out of work as compared to 1,670 in April.
The labor force in May was unchanged at 15,310. The labor force is defined by MDES as the estimated number of people eligible for work or actively looking for work.

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In comparison to the six surrounding counties, the Panola unemployment rate was less than Tunica (14.5), Quitman (14.3), Tallahatchie (12.5); but more than Lafayette (7.3), Yalobusha (9.5) and Tate (10.2).

Initial unemployment insurance claims jumped in May, going from 155 in April to 231 in May. Continuing claims also went up, going from 1,193  in April to 1,379 in May.

The May 2013 initial claims (231) are more than in May 2012 (312). But, the May 2013 continuing claims (371) are less than in May 2012 (431).

More was paid in unemployment insurance claims in May 2013 ($207,374) than in April 2013 ($201,610). Those figures are both less than the ($222,991) paid out in May 2012.

Mississippi’s unadjusted unemployment rate for May 2013 was 9.2 percent, increasing one percentage point from the previous month’s rate of 8.2 percent.

Overall, the number of unemployed increased 12,900 over the month, while the employed total decreased 14,800 from the prior month.

But, the state did show a gain in employment of 1,400 in the leisure and hospitality industry and in construction.

The nation’s unadjusted unemployment rate for May 2013 at 7.3 percent was up two-tenths of a percentage point over the month.

For the month of May 2013, only 27 counties in Mississippi posted unemployment rates less than or equal to the state’s rate of 9.2 percent. Rankin County posted the lowest unemployment rate for the month of May at 5.5 percent.

Seven counties reported rates greater than 15.0 percent. Clay County had the highest unemployment rate for May at 18.5 percent.