Record Low Unemployment Rate Achieved in Mississippi Without Seasonal Adjustment
The State of Mississippi registers its record-lowest non-seasonally adjusted unemployment rate in recorded state history, reports The Mississippi Department of Employment Security. In November, figures reached an unadjusted low of 2.6%. Online database records dating back to 1976 confirm this historic low. This lower rate mirrors the state’s seasonally adjusted unemployment rate in the same month, which sits at 3.3%. The state’s lowest seasonally adjusted unemployment rate on record is 3.0%, noted in July. Seasonal adjustment is a statistical method used to calculate and eliminate the influences of predictable seasonal patterns. This provides a clearer picture of unemployment and employment changes from month to month, as explained by the U.S. Bureau of Labor Statistics. Mississippi continues to shatter records, stated Governor Tate Reeves on Friday, Dec. 29. He celebrated this accomplishment, With unprecedented lows in unemployment, a growing number of Mississippians have good jobs across the state. I’m proud of our achievements as a team and eagerly anticipate maintaining this momentum into 2024.