Missouri February Jobs Report Released

The Missouri Jobs report showed a private industry employment monthly increase of 6,500 jobs in February and an unemployment rate which went up by two-tenths of a percentage point at 4 percent. The state’s payroll employment increased by 7,800 jobs in total with 1,300 government jobs added. The February 2024 rate was half of a percentage point higher than the February 2023 rate. The estimated number of unemployed Missourians was 103,023 in February 2024, up by 1,445 from the revised January total of 101,578.

Over the year, there was an increase of 46,000 jobs from February 2023 to February 2024, and the unemployment rate increased by half of a percentage point, from 2.8 percent in February 2023 to 3.3 percent in February 2024.

Goods-producing industries increased by 5,600 jobs over the month, with mining, logging, and construction gaining 3,800 jobs and manufacturing gaining 1,800 jobs. Private service-providing industries increased by 900 jobs between January 2024 and February 2024. Employment in private service-providing industries increased by 5,300 jobs in professional and business services 2,400 jobs and private education and health services. Employment decreased by 4,700 jobs in leisure and hospitality and 1,100 jobs in financial activities. Of the government jobs created, 1,100 were state jobs.

Missouri’s labor force participation rate was 63.1 percent in February 2024, six-tenths of a percentage point higher than the national rate of 62.5 percent. Missouri’s employment-population ratio was 61 percent in February 2024, nine-tenths of a percentage point higher than the national rate of 60.1 percent. Missouri’s unemployment rate has been at or below the national rate for more than eight years.