Grenada, Mississippi (PRWEB) June 05, 2014
The Grenada County Economic Development District reported today that the unemployment rate for Grenada County is at a 5 year low, having fallen under 7% for the first time since May of 2008. According to the latest data released by the Mississippi Department of Employment Security (MDES), Grenada County’s unemployment rate in April of 2014 was 6.7%, down 1.8 percentage points from last April’s rate of 8.5%. The unemployment rate has consistently decreased over the past 4 ¼ years, since peaking at 10.4% during the height of the recession.
According to Pablo Diaz, Executive Director of the Grenada Economic Development District, “The Grenada EDD is excited to see the unemployment rate fall under 7% for the first time in over 5 years. Our work is focused on job creation and retention, and the unemployment rate is something we watch closely as a way to measure that economic development policies are having a positive impact in our community. We have seen important job growth in the manufacturing sector in the past 24 months and fully expected other sectors of the economy to add positions to support that growth. The latest data release by MDES confirms that other sectors in our local economy are also expanding and providing job opportunities to more Grenadians.”
According to the MDES data the largest share of the jobs added in the Grenada economy in the last year came from the sectors of manufacturing and Administration Support & Waste Management, which added 120 and 140 jobs accordingly from April 2013 to April 2014. Other sectors that also added jobs in the past 12 months include Construction, Wholesale Trade, Transportation & Warehousing, Education, Real Estate and Professional Services.
Another effect of these positive economic changes in Grenada is the recent change by the Mississippi Department of Revenue (MDOR), which moved up Grenada’s ranking in their County Ranking and Designation profiles from a Tier II to a Tier I County. The MDOR rankings use a combination of unemployment rate and per capita income for the most recent thirty six (36) month period to designate counties into three tiers from tier I (Developed Area) to tier III (less developed areas).