Mississippi jobless rate and payrolls both hit new records

March 13, 2018 in Business

bigstock-Mississippi-4640673JACKSON, Miss. (AP) – Mississippi’s jobless rate again set a new low in January, while employer payrolls again set a new high.

The jobless rate fell to 4.6 percent, a new low since current surveys began in 1976, from 4.8 percent in December. That’s down from January 2017’s 5.4 percent. More people reported having jobs, but the labor force shrank slightly. Unemployed Mississippians fell almost 3,000 to 58,000.

The separate payroll survey, economists’ top labor market indicator, reached 1.16 million in December. That slightly surpassed the high set in December, and is a 12,000-job gain over January 2017. After nearly two years of stagnation, payrolls began surging in late 2017.

January’s U.S. unemployment rate was level from December at 4.1 percent.

The U.S. Labor Department released figures Monday, adjusted to cancel out seasonal changes.