The Missouri state jobs report for October is out and shows that non-farm payroll employment increased by 4,600 jobs from September, and the seasonally adjusted unemployment rate increased by two-tenths of a percentage point going from 2.4 percent in September to 2.6 percent last month.

Private industry employment added around 3,500 jobs and government employment increased by 11-hundred  jobs.

And looking year to year  total payroll employment increased by approximately 72,400 jobs from October 2021 to October 2022.

Most major private-sector industry groups shared in the increase, with the largest gain in professional and business services followed by leisure and hospitality.

 

****Full Report….

Missouri non-farm payroll employment increased by 4,600 jobs from September 2022 to October 2022, and the seasonally adjusted unemployment rate increased by two-tenths of a percentage point. Private industry employment increased by 3,500 jobs and government employment increased by 1,100 jobs. The state’s seasonally adjusted unemployment rate was 2.6 percent in October 2022, from 2.4 percent in September 2022. Over the year, there was an increase of 72,400 jobs from October 2021 to October 2022, and the unemployment rate decreased by 1.4 percentage points, from 4.0 percent in October 2021 to 2.6 percent in October 2022.

UNEMPLOYMENT

Missouri’s smoothed seasonally adjusted unemployment rate increased by two-tenths of a percentage point in October 2022, rising to 2.6 percent from the revised September 2022 rate of 2.4 percent. The October 2022 rate was 1.4 percent lower than the October 2021 rate. A year ago, the state’s seasonally adjusted rate was 4.0 percent. The estimated number of unemployed Missourians was 78,871 in October 2022, up by 4,337 from September. The number of employed declined by 2,024 in October 2022.

The national unemployment rate increased from 3.5 in September 2022 to 3.7 in October 2022. Missouri’s unemployment rate has been at or below the national rate for the last five years.

The state’s not-seasonally-adjusted unemployment rate increased in October 2022, rising by six-tenths of a percentage point to 2.4 percent from the September 2022 not-seasonally-adjusted rate of 1.8 percent. A year ago, the not-seasonally-adjusted rate was 3.3 percent. The corresponding not-seasonally-adjusted national rate for October 2022 was 3.4 percent.

Missouri’s labor force participation rate was 62.4 percent in October 2022, two-tenths of a percentage point higher than the national rate of 62.2 percent. Missouri’s employment-population ratio was 60.8 percent in October 2022, eight-tenths of a percentage point higher than the national rate of 60.0 percent. Missouri’s unemployment rate was 2.6 percent in October 2022, 1.1 percentage points lower than the national rate of 3.7 percent. Missouri’s unemployment rate has been at or below the national rate for the last five years.

EMPLOYMENT

Missouri’s non-farm payroll employment was 2,932,500 in October 2022, up by 4,600 from the revised September 2022 figure. The September 2022 total was revised upward from the preliminary estimate with an increase of 1,400 jobs.

Goods-producing industries decreased by 100 jobs over the month, with manufacturing gaining 800 jobs and mining, logging, & construction losing 900 jobs. Private service-providing industries increased by 3,600 jobs between September 2022 and October 2022. Employment in private service-providing industries increased in professional and business services (3,600 jobs); leisure and hospitality (1,500 jobs); financial activities (600 jobs); information (600 jobs); other services (300 jobs); and educational and health services (200 jobs).  Employment decreased in trade, transportation, and utilities (-3,200 jobs).  Government employment increased by 1,100 jobs over the month with gains in local government (800 jobs); state government (200 jobs); and federal government (100 jobs).

Over the year, total payroll employment increased by 72,400 jobs from October 2021 to October 2022. Most major private-sector industry groups shared in the increase, with the largest gain in professional and business services (27,200 jobs); followed by leisure and hospitality (14,700 jobs); mining, logging, and construction (12,100 jobs); educational and health services (9,300 jobs); other services (3,500 jobs); financial activities (2,200 jobs); manufacturing (1,900 jobs); and information (200 jobs). Employment decreased in trade, transportation, and utilities (-200 jobs). Government employment increased over the year, with a gain of 1,500 jobs. There were increases in local government (2,500 jobs) and state government (1,600 jobs). Employment decreased over the year in federal government (-2,600 jobs).

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