The U.S. Bureau of Labor Statistics on Friday announced that Mississippi’s unemployment rate reached a new record low in May 2023. May’s 3.2% unemployment rate marks the third consecutive month that Mississippi set a new record low.
“Mississippi has done it again,” said Governor Tate Reeves. “Mississippi’s unemployment rate is at an all-time low because we’re making record investment in Mississippians and creating thousands of high-paying jobs around the state. Whether it’s in education or economic development, Mississippi is rising up the ranks. Our state is growing stronger every day and we have momentum.”
On top of the all-time low unemployment rate, Mississippi is finding success on multiple fronts. Recently, Mississippi has garnered national attention for its historic academic achievement in fourth-grade reading. Additionally, high school graduation rates are at an all-time high and above the national average.
Last year, Mississippi finalized a record $6 billion in new economic development. This included the largest economic development project in Mississippi’s history, a $2.5 billion investment that will create 1,000 jobs with an average annual salary of nearly $100,000. Earlier this week, Governor Reeves announced that the state of Mississippi was again honored with a Silver Shovel Award by Area Development magazine for economic development excellence. Since 2019, per capita personal income in Mississippi has risen by over $8,100 or almost 21%.See a typo? Report it here.