Missouri Issues March Jobs Report

JEFFERSON CITY, MO – Missouri non-farm payroll employment increased by 2,300 jobs in March. The seasonally adjusted unemployment rate decreased by one-tenth of a percentage point. Private industry employment increased by 2,100 jobs and government employment increased by 200 jobs. The state’s seasonally adjusted unemployment rate was 2.5 percent in March 2023, down from 2.6 percent in February. Over the year, there was an increase of 62,100 jobs from March 2022 to March 2023, and the unemployment rate remained unchanged.

Missouri’s smoothed seasonally adjusted unemployment rate decreased by one-tenth of a percentage point in March, declining to 2.5 percent from the revised February rate of 2.6 percent. The March 2023 rate remained unchanged compared to March 2022. The estimated number of unemployed Missourians was 77,408 in March, down by 2,281 from February’s 79,689.

The state’s not-seasonally-adjusted unemployment rate remained unchanged in March, holding steady at 2.7 percent. A year ago, the not-seasonally-adjusted rate was 2.8 percent. The corresponding not-seasonally-adjusted national rate for March was 3.6 percent.

Missouri’s labor force participation rate was 62.9 percent in March 2023, three-tenths of a percentage point higher than the national rate of 62.6 percent. Missouri’s employment-population ratio was 61.4 percent in March 2023, one percentage point higher than the national rate of 60.4 percent. Missouri’s unemployment rate was 2.5 percent in March 2023, one percentage point lower than the national rate of 3.5 percent. Missouri’s unemployment rate has been at or below the national rate for more than seven years.

Missouri’s non-farm payroll employment was 2,969,300 in March, up by 2,300 from the revised February figure. The February total was revised upward by 5,000 jobs from the preliminary estimate.