The Missouri Monthly Jobs Report showed a non-farm employment increase between June and July, but the seasonally adjusted unemployment rates also inched up by one-tenth of a percentage point.
Missouri’s smoothed seasonally adjusted employment rate went up one-tenth of a point to 2.7 percent from the revised June rate of 2.6 percent. The July rate was five-tenths of a percentage point higher than the July 2022 rate of 2.2 percent. The estimated number of unemployed Missourians was 84,204. That number was up by 2,662 from June’s figure.
Missouri’s non-farm employment 6,900 jobs ahead of the revised June 2023 figure. Goods-producing industries were down by 300 jobs over the month. Mining, logging, and construction declined by 600 jobs. Manufacturing gained 300 jobs. Private service-providing industries gained 7,200 jobs between June and July. Employment increased in private education and health services by 3,900 jobs, trade, transportation, and utilities by 1,800 jobs, financial activities by 1,700 jobs, and leisure and hospitality by 700 jobs.
Missouri’s labor force participation rate was 63.6 in July, one percentage point higher than the national rate. Missouri’s employment-population ratio was 61.9 percent in July. 1.5 percentage points higher than the national rate.
Over the year, total payroll employment increased by 58,900 jobs from July 2022 to July 2023. Missouri’s unemployment rate is eight-tenths of a percentage point lower than the national rate of 3.5 percent. Missouri’s unemployment rate has been at or below the national rate for eight years.