Missouri July Jobs Report Released

Missouri non-farm payroll employment increased from June 2021 to July 2021, and the seasonally adjusted unemployment rate decreased by a tenth of a percentage point. Seasonally employment increased by 15,000 jobs over the month. There job gains were realized in both goods-producing and service-providing industries. The state’s seasonally adjusted unemployment rate was 4.2 percent in July 2021, down from 4.3 percent in June 2021. Recovery from COVID-19-related layoffs continued with an increase of more than 83,900 jobs from July 2020 to July 2021. Short-term shortages of semiconductor chips may hold down employment in manufacturing in the next few months and the emergence of the delta variant of COVID-19 may impact longer-term growth.

The COVID-19 effect hit in April 2020, spiked the state’s unemployment rate to 12.5 percent for that month. The rate decreased monthly for the rest of 2020, reaching 4.4 percent in December, and continued gradually downward through the first four months of 2021. The increase of two-tenths of a percentage point from April 2021 to June 2021 over the last two months appeared to be related to a temporary shortage in the supply of semiconductor chips, which caused production slowdowns in some manufacturing industries.

Due to benchmark revisions, Missouri’s unemployment rate rose a tenth of a percentage point higher than the national rate in January and February of 2020, but has been below the national rate for every month since February 2020. The national unemployment rate decreased from 5.9 percent in June 2021 to 5.4 percent in July 2021. The estimated number of unemployed Missourians was 128,685 in July 2021, down by 4,639 from June’s 133,324.