When speaking of Mississippi, you might think of the nation’s largest river, sometimes called Old Man River. Elvis fans may know that Tupelo, Mississippi was his birthplace. And those of us with inquisitive children might have heard the story of Theodore (Teddy) Roosevelt who refused to shoot a bear while hunting in Sharkey County Mississippi, resulting in the creation of the world-famous teddy bear.
So, how about the state’s unemployment facts?
Mississippi concluded 2015 with a state-wide unemployment rate of 7.1%. Although this was higher than the national average of 5.0%, the rate has been trending downward since January 2016. The seasonally adjusted rate was last reported in May 2016 at 5.8%. When compared to one year ago, this rate is six-tenths of a percentage point lower than the 6.4% reported in May of 2015. Additionally, 27 of the 82 counties in Mississippi posted unemployment rates less than or equal to the state’s average.
The taxable wage base in Mississippi is $14,000, lower than the national average of $17,700. The maximum Weekly Benefit Amount (WBA) allowed in Mississippi at this time is $235 with a maximum duration of 26 weeks of payments for a maximum total benefit amount of $6110.
US. Bureau of Labor Statistics, Unemployment Rate in Mississippi [MSURN], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/MSURN, July 6, 2016.