Mississippi Unemployment Rate
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The unemployment rate is an important way the government measures the amount of people without work in each state as well as on a national level. The jobless rate is a strong indicator of a strengthening economy or whether a recession declaration is necessary. The unemployment rate within each state, whether high or low, is conditional of a variety of factors. For example, job growth and job fulfillment can be an indicator of a low unemployment rate, but so can unemployed individuals abandoning their search or leaving the market. It is important to understand the jobless rate and analyze the data that accompanies the statistic in order to accurately assess the economic standing. The way the unemployment rate is measured is by dividing the amount of unemployed workers actively seeking employment by the total number of workers in the labor force. That number becomes a percentage.
Mississippi Unemployment Resources
What is the unemployment rate in Mississippi?
So, what is the unemployment rate in Mississippi and how does it compare to the rest of the nation? As of May 2017, the unemployment rate in Mississippi dipped to 4.9 percent, which is a record low since the labor surveys began in the 1970s. Although the unemployment rate in Mississippi is higher than the national average of 4.3 percent, it is over a full percentage point lower than May of 2016. While the proportion of out-of-work laborers in Mississippi is higher than compared to other states, the juridical decline is promising. The unemployment rate in Mississippi could be an important indicator of an ever-growing economy, as well as a strong source of job growth for the nation.
Despite the positive numbers, many state residents still have difficulties with finding employment. For those who may need wage assistance on a temporary level, unemployment insurance benefits may be an option. Unemployment benefits also includes reemployment assistance services to help laborers rejoin the workforce. Every state offers unemployment benefits for qualified individuals. Eligibility requirements are enforced and vary depending on the state.