Missouri Releases August Job Report

Missouri’s seasonally adjusted unemployment rate inched up in August.

Missouri’s non-farm payroll employment decreased by 13,700 jobs in August. Private industry employment decreased by 16,100 jobs. Government employment was up by 2,400 jobs. The unemployment rate in August was 2.8 percent. That is up from 2.7 percent in July of last year. Over the year, there was an increase of 51,700 jobs from August of last year to August of this year. Last year’s unemployment rate was 2.4 percent for August.

Missouri’s labor force participation rate was 63.7 percent in August 2023, nine-tenths of a percentage point higher than the national rate of 62.8 percent. Missouri’s employment-population ratio was 61.9 percent in August 2023, 1.5 percentage points higher than the national rate of 60.4 percent. Missouri’s unemployment rate was 2.8 percent in August 2023, one point lower than the national rate of 3.8 percent. Missouri’s unemployment rate has been at or below the national rate for more than eight years.

Goods-producing industries decreased by 7,100 jobs over the month, with decreases of 6,500 jobs in manufacturing and 600 jobs in mining, logging, and construction. Private service-providing industries declined by 9,000 jobs between July 2023 and August 2023. Employment in private service-providing industries decreased in trade, transportation, and utilities. The jobs decrease amounted to 7,800. Professional and business services were down 900 jobs. Financial activities were down 900 jobs.

Employment increased in leisure and hospitality by 800 jobs. The government jobs increase was 2,400. Most of that came from local government jobs.

Over the year, total payroll employment increased by 51,700 jobs from August 2022 to August 2023.