Panola County’s unemployment rate drops in July 9/3/2013

Published 12:00 am Tuesday, September 3, 2013

Panola County’s unemployment rate drops in July

By David Howell
Unemployment dropped almost two points over the month of July, decreasing from 12.5 percent in June to 10.8 percent in July.

The most recent figures from the Mississippi Department of Employ-ment Security show that 13,480 people were employed in July with 1,640 out of work as compared to 1,920 in June.
The labor force also went down, going from 15,360 in June to 15,120 in July. The labor force is defined by MDES as the estimated number of people eligible for work or actively looking for work.

In comparison to the five surrounding counties, the Panola unemployment rate was less than Tunica (12.6), Quitman (13.2) and Tallahatchie (11.0); but more than Tate (9.3), Lafayette (7.1) and Yalobusha (8.9).

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The number of initial unemployment insurance claims filed in July increased over the previous month, climbing from 125 in June to 159. The number of continuing claims reported was steady, 1,596 in June and 1,582 in July. But the July 2013 continuing claims are considerably less than a less ago (2,031).

Mississippi’s unadjusted unemployment rate for July was 8.6 percent, decreasing 1.2 percentage points from the previous month’s rate of 9.8 percent.

When compared to the July 2012 rate of 10.3 percent, the rate decreased 1.7 percentage points. The number of unemployed decreased 16,600 over the month, while the employed total increased 7,200 from the prior month.

The nation’s unadjusted unemployment rate for July at 7.7 percent was down one tenth of a percentage point over the month, and was nine-tenths of a percentage point below the year ago rate of 8.6 percent.

For the month of July, only twenty-seven counties in Mississippi posted unemployment rates less than or equal to the state’s rate of 8.6 percent. Rankin County posted the lowest unemployment rate for the month of July at 4.6 percent.

Six counties reported rates greater than or equal to 15.0 percent. Clay County had the highest unemployment rate for July at 19.0 percent.