County’s jobless rate set at 7.2 percent

Pontotoc County’s labor force was virtually unchanged in October, but the number of employed increased, netting a drop in the county’s unemployment rate.

Pontotoc County’s unemployment rate was set at 7.2 percent for October, eleventh lowest in the state, according to data released last week by the Mississippi Department of Employment Security.

The total labor force in October for Pontotoc County was estimated at 13,880, a decrease of 10 from September, but an increase of 60 over October 2011.

The number of employed in October was set a 12,890, an increase of 100 over the previous month and an increase of 410 over a year ago.

In Pontotoc County the number of unemployed was set at 990, down 110 from September and down 350 from October 2011.

Pontotoc County’s 7.2 percent jobless rate was seven-tenths of a percentage point below September’s rate and a decrease of 2.5 from October a year ago.

Pontotoc County’s 7.2 percent jobless rate was one of only 26 counties in Mississippi to post an unemployment rate less than the state’s rate of 8.3 percent.

Rankin County posted the lowest unemployment rate for the month of October at 5.2 percent, followed by Madison County at 5.8 percent and Lafayette County at 5.9 percent.

Clay County had the highest rate for October at 16.4 percent, followed by Holmes County at 14.5 percent and Noxubee County at 14.3 percent.

A past five year’s comparison of Pontotoc County’s October unemployment rate of 7.2 percent shows:

-9.7 percent in 2011;

-10.3 percent in 2010;

-10.7 percent in 2009;

-7.9 percent in 2008;

-and 6.4 percent in 2007.

Pontotoc County’s unemployment rate of 7.2 percent was the second lowest in the eight counties in the Three Rivers Planning and Development District (TRPDD).

Rates for the TRPDD counties showed:

-Lafayette-5.9%

-Pontotoc- 7.2%;

-Union- 7.3%’

-Calhoun- 8.2%;

-Itawamba- 8.2%;

-Lee- 8.3%;

-Chickasaw-10.4%;

-and Monroe- 11.3%.

Mississippi’s not seasonally adjusted unemployment rate for October was 8.3 percent, decreasing eight-tenths of a percentage point from the September rate of 9.1 percent.

When compared to the year ago rate of 10.6 percent, the rate decreased 2.3 percentage points.

Over the month, the number of unemployed decreased 10,400, while the employed total increased 12,000.

Mississippi’s civilian labor force in October 2012 was estimated at 1,339,500, which included 1,228,600 employed persons and 110,900 unemployed.

The nation’s not seasonally adjusted unemployment rate for October 2012 at 7.5 percent was down one-tenth of a percentage point from the prior month, and one percentage point from the year ago rate of 8.5 percent
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