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Mon. Jun 24th, 2024

 

Missouri Jobs Report Shows Increase In Employment For December

Missouri nonfarm payroll employment increased by 5,600 jobs in December-2023 with the seasonally adjusted unemployment rate increasing by one-tenth of a point.

That’s according to the Missouri Economic Research and Information Center’s monthly jobs report.

The report also shows that private industry employment increased by 4,200 jobs and government employment by 1,400 jobs.

The state’s seasonally adjusted unemployment rate was 3.3 percent in December-2023, up from 3.2 percent in November-2023.

Over the year, from December-2022 to December-2023, there was an increase of more than 48,000 jobs with the jobless rate increasing by six-tenths of a percentage point from 2.7 to 3.3 percent.

 

****Full Report:

December 2023 Monthly JobReport

Missouri nonfarm payroll employment increased by 5,600 jobs in December 2023, and the seasonally adjusted unemployment rate increased by one-tenth of a percentage point. Private industry employment increased by 4,200 jobs and government employment increased by 1,400 jobs. The state’s seasonally adjusted unemployment rate was 3.3 percent in December 2023, up from 3.2 percent in November 2023. Over the year, there was an increase of 48,100 jobs from December 2022 to December 2023, and the unemployment rate increased by six-tenths of a percentage point, from 2.7 percent in December 2022 to 3.3 percent in December 2023.

UNEMPLOYMENT

Missouri’s smoothed seasonally adjusted unemployment rate increased by one-tenth of a percentage point in December 2023, increasing to 3.3 percent from the revised November 2023 rate of 3.2 percent. The December 2023 rate was six-tenths of a percentage point higher than the December 2022 rate. The estimated number of unemployed Missourians was 101,920 in December 2023, up by 991 from November 2023.

The state’s not-seasonally-adjusted unemployment rate decreased one-tenth of a percentage point to 2.8 percent from November 2023 to December 2023. A year ago, the not-seasonally-adjusted rate was 2.2 percent. The corresponding not-seasonally-adjusted national rate for December 2023 was 3.5 percent.

Missouri’s labor force participation rate was 63.3 percent in December 2023, eight-tenths of a percentage point higher than the national rate of 62.5 percent. Missouri’s employment-population ratio was 61.3 percent in December 2023, 1.2 percentage points higher than the national rate of 60.1 percent. Missouri’s unemployment rate was 3.3 percent in December 2023, four-tenths of a percentage point lower than the national rate of 3.7 percent. Missouri’s unemployment rate has been at or below the national rate for more than eight years.

EMPLOYMENT

Missouri’s nonfarm payroll employment was 3,005,100 in December 2023, up 5,600 from the revised November 2023 figure. The November 2023 total was revised upward by 1,700 jobs from the preliminary estimate.

Goods-producing industries increased by 1,800 jobs over the month, with mining, logging, and construction gaining 1,400 jobs and manufacturing gaining 400 jobs. Private service-providing industries increased by 2,400 jobs between November 2023 and December 2023. Employment in private service-providing industries increased in trade, transportation, and utilities (1,900 jobs); financial activities (1,400 jobs); information (700 jobs); private education and health services (600 jobs); and leisure and hospitality (100 jobs).  Employment decreased in professional and business services (-2,200 jobs) and other services (-100 jobs). Total government employment increased by 1,400 jobs over the month with increases in local government (1,100 jobs) and state government (300 jobs).

Over the year, total payroll employment increased by 48,100 jobs from December 2022 to December 2023. The largest gain was in private education and health services (17,000 jobs); followed by leisure and hospitality (14,200 jobs); trade, transportation, and utilities (6,200 jobs); other services (2,800 jobs); financial activities (1,700 jobs); manufacturing (600 jobs); and mining, logging, and construction (400 jobs). Employment decreased in professional and business services (-5,500 jobs) and information (-700 jobs). Government employment increased by 11,400 jobs over the year, with increases in local government (9,800 jobs), federal government (1,200 jobs), and state government (400 jobs).

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

Reporter Mike Anthony