August unemployment rates continued a downward trend in Newton County, dropping two-tenths of a percentage point in the latest report from the Mississippi Department of Employment Security.
The 3.3 percent rate comes in eight-tenths of a percentage point lower than a year ago, when unemployment was at 4.1% in August 2023. The county’s August unemployment rate is the 33rd lowest in the state, sharing the ranking with 5 other counties: Jones, Lowndes, Montgomery, Stone, and Winston Counties.
The estimated number of unemployed in Newton County for the month of August fell by 20, down to 260, while the number of employed climbed up 20 to 7,530. The county’s civilian labor force came in at 7,790, up 10 from July.
Mississippi’s not seasonally adjusted unemployment rate for August 2024 was 3.2 percent, decreasing one-tenth of a percentage point from the previous month’s rate of 3.3 percent. When compared to the August 2023 rate of 3.6 percent, the rate decreased four-tenths of a percentage point. The number of unemployed decreased 2,000 over the month, while the employed total decreased 2,100 from the prior month. The Nation’s not seasonally adjusted unemployment rate for August 2024 at 4.4 percent decreased one-tenth of a percentage point over the month but increased five-tenths of a percentage point over the year.
Mississippi’s not seasonally adjusted nonfarm employment decreased 100 over the month but
increased 10,500 over the year. Industry sectors registering the largest monthly employment losses were Manufacturing and Leisure & Hospitality.
For the month of August 2024, thirty-two counties in Mississippi posted unemployment rates less than or equal to the state’s rate of 3.2 percent. Rankin and Union Counties posted the lowest unemployment rate for the month of August at 2.3 percent followed by Lafayette, Lamar and Madison Counties at 2.5 percent. Jefferson County had the highest unemployment rate for August at 11.9 percent followed by Claiborne County at 7.7 percent.
The state’s seasonally adjusted unemployment rate for August 2024 was 2.7 percent, unchanged over the month. The rate decreased five-tenths of a percentage point when compared to the August 2023 rate of 3.2 percent. The Nation’s seasonally adjusted unemployment rate at 4.2 percent decreased one-tenth of a percentage point over the month, but increased four-tenths of a percentage point from the year ago rate of 3.8 percent.
In August 2024, the number of jobs in Mississippi at 1,189,300 decreased 2,700 from July, according to the seasonally adjusted results from a survey of Mississippi employers. Since August 2023, the number of jobs has increased 9,700. Industry sectors registering the largest monthly employment losses were Manufacturing and Trade, Transportation & Utilities.
Seasonally adjusted data removes the effects of events that follow a more or less regular pattern each year such as the influences of weather, holidays, the opening and closing of schools, and other recurring seasonal events. These adjustments make it easier to observe the cyclical and other non-seasonal movements in a data series. Amounts are seasonally adjusted at the National and State levels only.
