Missouri nonfarm payroll employment increased by 5,600 jobs in October, and the seasonally adjusted unemployment rate increased by two-tenths of a percentage point. Private industry employment increased by 4,800 jobs and government employment increased by 800 jobs. The state’s seasonally adjusted unemployment rate was 3.1 percent in October 2023, up from 2.9 percent in September 2023. Over the year, there was an increase of 41,300 jobs from October 2022 to October 2023, and the unemployment rate increased by four-tenths of a percentage point, from 2.7 percent in October 2022 to 3.1 percent in October 2023.
The estimated number of unemployed Missourians was 97,812 in October 2023, up 6,137 from September’s 91,675.
Missouri’s labor force participation rate was 63.6 percent in October 2023, nine-tenths of a percentage point higher than the national rate of 62.7 percent. Missouri’s employment-population ratio was 61.6 percent in October 2023, 1.4 percentage points higher than the national rate of 60.2 percent. Missouri’s unemployment rate was 3.1 percent in October 2023, eight-tenths of a percentage point lower than the national rate of 3.9 percent. Missouri’s unemployment rate has been at or below the national rate for more than eight years.
Missouri’s nonfarm payroll employment was 2,992,700 in October 2023, up 5,600 from the revised September 2023 figure. The September 2023 total was revised downward by 1,600 jobs from the preliminary estimate.
Goods-producing industries decreased by 4,000 jobs over the month, with mining, logging, and construction gaining 200 jobs and manufacturing declining by 4,200 jobs. Private service-providing industries increased by 8,800 jobs between September 2023 and October 2023. Employment in private service-providing industries increased in leisure and hospitality, private education and health services, financial activities, trade, transportation, and utilities. Employment decreased in professional and business services. Total government employment increased by 800 jobs over the month, with increases in local and federal government. State government declined by 400 jobs.
Over the year, total payroll employment increased by 41,300 jobs from October 2022 to October 2023.