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I’m not buying it

The unemployment figures for May show that the state’s rate is 4.9% seasonally adjusted.  Copiah County is 40th in the state at 5.9%.  The figures are based on the Civilian Labor Force (CLF) made up of everyone who has a job or is looking for a job.  In May, 1,303,100 Mississippians comprised the CLF–11,580 of which reside in Copiah County.  The state says that the 4.9% seasonally adjusted unemployment rate for May is the lowest since the current method of calculation began in 1976.
Unfortunately, the low unemployment figures are not translating into a boom for local businesses.  In times past, low unemployment rates meant an economy that was robust and growing.  Money flowed into town and businesses of all types flourished–perhaps expanding and adding more workers.  People had money to burn, as they say, and they burnt it buying goods and services locally.
That is not the case now.  Because I call on quite a few of them, I know that many local businesses are struggling.  Wages are stagnant.  Expansion is questionable at best.  The money to burn is less and less.
I’m simply not buying that the picture is as rosy as the state’s leaders paint it, based on seasonally adjusted figures.

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