(The Center Square) — While Mississippi set another new all-time low for its unemployment rate in July, its labor force participation rate declined for a second consecutive month.
The state‘s 3% unemployment rate marked the fifth consecutive month the record was eclipsed and is less than the national average of 3.5%.
According to the U.S. Bureau of Labor Statistics, eight states, including Alabama (2.1%), Tennessee (3.1%) and Louisiana (3.4%), broke their previous records for low unemployment rates
“For five months in a row, Mississippi has made history with our vibrant economy,” Gov. Tate Reeves said in a release. “More Mississippians are working, they’re making higher wages, and they’re better able to provide for their families. At the end of the day, that’s what it’s all about.”
The state’s seasonally-adjusted labor force participation rate of 54.4% in July is down slightly from the past two months, when rates of 54.6% and 54.5% were recorded. The national average in June according to the U.S. Bureau of Labor Statistics was 62.6%.
The Magnolia State has the lowest labor force participation rate regionally, which was led in July by Georgia with 61.4%, followed by Tennessee at 59.4%, Florida and Louisiana at 59.3%, Arkansas at 57.7% and Alabama at 57%.
Since October 2022, the state’s labor force participation rate has hovered around the 54.4% mark with variations measured in tenths of a percent and down from a prepandemic shutdown high of 56.3% in September 2019.
The measure is an estimate of an economy’s active workforce that takes those age 16 or older that are employed or actively seeking work and divides them by the total working age, non-institutionalized population.
