(The Center Square) — Mississippi’s unemployment rate eclipsed a record low for a fourth consecutive month with a rate of 3.1%, and the state’s labor force participation rate still lags behind the national average.
According to the U.S. Bureau of Labor Statistics, the Magnolia State was among only 11 states with a drop in its unemployment rate in June.
“Reaching an all-time low unemployment rate four months in a row is an incredible accomplishment for Mississippi,” Gov. Tate Reeves said in a release. “It goes to show just how much momentum our state has.
“Whether it’s education or the economy, Mississippi continues to set records and make history. Our conservative approach to managing Mississippi is working.”
According to the labor statistics, Mississippi’s seasonally adjusted labor force participation rate of 54.5% is behind the national average of 62.6% and remains the worst in the Southeast region.
In March, the unemployment rate was 3.5%, improved to 3.4% in April and 3.2% in May.
The state’s labor force participation rate hit its most recent high of 62.8% in April 2000, decreased before rebounding in October 2011 to 60.1%. It has only improved 2.83% since a low of 53% in April 2020 during the pandemic-related economic shutdown.
