By David Howell

Panola unemployment for March 2013 is 11.6 percent, down almost a full point from last month’s revised figure of 12.5 percent.

The most recent MDES figures show 13,560 people were employed in March as compared to 13,470 in February. That left 1,770 people out of work in March as compared to 1,930 in February.

The total labor force in March was 15,330, down from 15,400 in February. The labor force is defined by MDES as the estimated number of people eligible for work or actively looking for work.

Just three years ago in March 2010, the unemployment rate was 13.5 percent. And, just two years before that in March 2008, the rate was 5.5 points less at 8 percent.

In comparison to the six surrounding counties, the Panola unemployment rate was less than Tallahatchie (11.7), Quitman (13.1) and Tunica (16.8); but more than Lafayette (6.7), Tate (8.9) and Yalobusha (9.0)
Initial unemployment insurance claims went up over the month, going from 110 in February to 129 in March. Continuing claims also went up, going from 1,493 in February to 1,518 in March.

In March 2013, $208,889 was paid in claims as compared to $221,719 in February 2013 and $225,153 in March 2012.

Mississippi’s unadjusted unemployment rate for March 2013 was 8.7 percent, decreasing 1.2 percentage points from the previous month’s rate of 9.9 percent.

When compared to the March 2012 rate of 8.8 percent, the rate decreased one-tenth of one percentage point.

The number of unemployed decreased 17,000 over the month, while the employed total increased 5,900 from the prior month.

The nation’s not seasonally adjusted unemployment rate for March 2013 at 7.6 percent was down five-tenths of a percentage point over the month, and eight-tenths of a percentage point from the year ago rate of 8.4 percent.

For the month of March 2013, only twenty-six counties in Mississippi posted unemployment rates less than or equal to the state’s rate of 8.7 percent.

Rankin County posted the lowest unemployment rate for the month of March at 5.1 percent.
Seven counties reported rates greater than 15.0 percent. Clay County had the highest unemployment rate for March at 18.2 percent.