The Missouri State Jobs Report shows the state’s non-farm payroll employment increased by 2,700 jobs from August to September, and the seasonally adjusted unemployment rate decreased by one-tenth of a percentage point.

Private industry employment in the state, increased by 10,400 jobs and government employment decreased by 7,700 jobs.

The state’s Economic Research and Information Center says the September seasonally adjusted unemployment rate was 2.4 percent, down from 2.5 percent in August 2022.

And over the year, there was an increase of 71,500 jobs from September 2021 to September 2022, and the unemployment rate decreased by 1.6 percentage points.

 

***Full report….

Missouri non-farm payroll employment increased by 2,700 jobs from August 2022 to September 2022, and the seasonally adjusted unemployment rate decreased by one-tenth of a percentage point. Private industry employment increased by 10,400 jobs and government employment decreased by 7,700 jobs. The state’s seasonally adjusted unemployment rate was 2.4 percent in September 2022, from 2.5 percent in August 2022. Over the year, there was an increase of 71,500 jobs from September 2021 to September 2022, and the unemployment rate decreased by 1.6 percentage points, from 4.0 percent in September 2021 to 2.4 percent in September 2022.

While the data is preliminary and subject to revision, the preliminary September 2022 unemployment rate of 2.4 percent is the lowest recorded seasonally adjusted unemployment rate in Missouri since the data series began in 1976. The previous low was 2.5 percent in August 2022. The preliminary September 2022 not seasonally adjusted unemployment rate of 1.8 percent is the lowest recorded not seasonally adjusted unemployment rate in Missouri since the data series began in 1976. The previous low was 2.3 percent in June 2022.

UNEMPLOYMENT

Missouri’s smoothed seasonally adjusted unemployment rate decreased by one-tenth of a percentage point in September 2022, declining to 2.4 percent from the revised August 2022 rate of 2.5 percent. The September 2022 rate was 1.6 percentage points lower than the September 2021 rate. A year ago, the state’s seasonally adjusted rate was 4.0 percent. The estimated number of unemployed Missourians was 74,542 in September 2022, down by 1,614 from August’s 76,156.

The national unemployment rate decreased from 3.7 in August 2022 to 3.5 in September 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 decreased in September 2022, declining by 1.2 percentage points to 1.8 percent from the August 2022 not-seasonally-adjusted rate of 3.0 percent. A year ago, the not-seasonally-adjusted rate was 3.5 percent. The corresponding not-seasonally-adjusted national rate for September 2022 was 3.3 percent.

Missouri’s labor force participation rate was 62.4 percent in September 2022, one-tenth of a percentage point higher than the national rate of 62.3 percent. Missouri’s employment-population ratio was 60.9 percent in September 2022, eight-tenths of a percentage point higher than the national rate of 60.1 percent.

EMPLOYMENT

Missouri’s non-farm payroll employment was 2,926,500 in September 2022, up by 2,700 from the revised August 2022 figure. The August 2022 total was revised upward from the preliminary estimate with an increase of 1,600 jobs.

Goods-producing industries increased by 1,000 jobs over the month, with mining, logging, & construction gaining 1,400 jobs and manufacturing losing 400 jobs. Private service-providing industries increased by 9,400 jobs between August 2022 and September 2022. Employment in private service-providing industries increased in leisure & hospitality (4,800 jobs); professional & business services (4,000 jobs); financial activities (1,000 jobs); and trade, transportation, & utilities (800 jobs).  Employment decreased in information (-700 jobs); other services (-400 jobs); and educational & health services (-100 jobs). Government employment decreased by 7,700 jobs over the month with a decline in local government (-8,700 jobs) and an increase in state government (1,000 jobs).

Over the year, total payroll employment increased by 71,500 jobs from September 2021 to September 2022. The major private-sector industry groups that shared in the increase, with the largest gain in professional & business services (28,100 jobs); followed by leisure & hospitality (14,600 jobs); mining, logging, & construction (9,800 jobs); educational & health services (6,100 jobs); trade, transportation, & utilities (5,700 jobs); other services (4,900 jobs); and manufacturing (1,800 jobs). Employment decreased in financial activities (-900 jobs) and information (-100 jobs).  Government employment increased over the year, with a gain of 1,500 jobs. The largest governmental employment increase was in local government (3,600 jobs) and state government (800 jobs). Employment decreased over the year in federal government (-2,900 jobs).

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