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Mon. Jul 22nd, 2024

 

April Jobs Report Released Shows Increase In Jobs And A Steady Unemployment Rate

The April Monthly Jobs report is out.

Missouri non-farm payroll employment increased by 4,700 jobs in April 2023 from March 2023, and the seasonally adjusted unemployment rate remained unchanged at 2.5 percent.

Private industry employment increased by 3,700 jobs and government employment increased by 1,000 jobs.

Over the year, there was an increase of 59,900 jobs from April 2022 to April 2023, and the unemployment rate increased by two-tenths of a percentage point, from 2.3 percent in April 2022 to 2.5 percent in April 2023.

You can read the full report below:

 

UNEMPLOYMENT

Missouri’s smoothed seasonally adjusted unemployment rate remained unchanged in April 2023, holding steady at the revised March 2023 rate of 2.5 percent. The April 2023 rate increased by two-tenths of a percentage point from the April 2022 rate of 2.3 percent. The estimated number of unemployed Missourians was 77,913 in April 2023, up by 503 from 77,410 in March.

The state’s not-seasonally-adjusted unemployment rate decreased in April 2023, declining by three-tenths of a percentage point to 2.4 percent from the March 2023 not-seasonally-adjusted rate of 2.7 percent. A year ago, the not-seasonally-adjusted rate was 2 percent. The corresponding not-seasonally-adjusted national rate for April 2023 was 3.1 percent.

Missouri’s labor force participation rate was 63.2 percent in April 2023, six-tenths of a percentage point higher than the national rate of 62.6 percent. Missouri’s employment-population ratio was 61.6 percent in April 2023, 1.2 percentage points higher than the national rate of 60.4 percent. Missouri’s unemployment rate of 2.5 percent in April 2023 was nine-tenths of a percentage point lower than the national rate of 3.4 percent. Missouri’s unemployment rate has been at or below the national rate for eight years.

EMPLOYMENT

Missouri’s non-farm payroll employment was 2,974,600 in April 2023, up by 4,700 from the revised March 2023 figure. The March 2023 total was revised upward by 600 jobs from the preliminary estimate.

Goods-producing industries decreased by 200 jobs over the month, with manufacturing gaining 600 jobs and mining, logging, and construction losing 800 jobs over the month. Private service-providing industries increased by 3,900 jobs between March 2023 and April 2023. Employment in private service-providing industries increased in private education and health services (3,400 jobs); trade, transportation, and utilities (2,800 jobs); professional and business services (800 jobs); other services (600 jobs); and information (200 jobs). Employment decreased in leisure and hospitality (-2,600 jobs) and financial activities (-1,300 jobs). Total government employment increased by 1,000 jobs over the month, with an increase in local government (1,100 jobs) and a decline in federal government (-100 jobs). State government was unchanged over the month.

Over the year, total payroll employment increased by 59,900 jobs from April 2022 to April 2023. The largest gain was in leisure and hospitality (13,700 jobs); manufacturing (11,500 jobs); private education and health services (10,700 jobs); professional and business services (7,700 jobs); other services (5,600 jobs); trade, transportation, and utilities (3,000 jobs); financial activities (2,100 jobs); and information (300 jobs). Employment decreased in mining, logging, and construction (-500 jobs). Government employment increased by 5,800 jobs over the year, with an increase in local government (6,100 jobs) and decreases in federal (-100 jobs) and state government (-200 jobs).

Read the full report at https://meric.mo.gov/missouri-monthly-jobs-report.

Reporter John Rogger