Missouri’s smoothed seasonally adjusted unemployment rate was up by one-tenth of a percentage point in September. The smoothed rate is 2.9 percent from the revised August rate. It is a rate three-tenths of a percentage point higher than the September 2022 rate. The not-seasonally adjusted unemployment rate decreased in September and was down eight-tenths of a percentage point from the August figure.
Missouri’s labor force participation rate was 63.7 percent in September 2023, nine-tenths of a percentage point higher than the national rate of 62.8 percent. Missouri’s employment-population ratio was 61.8 percent in September 2023, 1.4 percentage points higher than the national rate of 60.4 percent. Missouri’s unemployment rate was 2.9 percent in September 2023, nine-tenths of a percentage 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.
Missouri’s nonfarm payroll employment was just slightly in September. Goods-producing industries increased by 4,700 jobs over the month, with manufacturing gaining 7,100 jobs. Private service-providing industries remained unchanged between August 2023 and September 2023. Employment in private service-providing industries increased in private education and health services with 1,700 jobs, trade, transportation, and utilities with 900 jobs, and 900 jobs categorized as other services. Employment decreased in leisure and hospitality, professional and business services, information and financial activities.
Missouri’s nonfarm payroll employment was 2,988,700 in September 2023, up 5,200 from the revised August 2023 figure.
Over the year, total payroll employment increased by 43,700 jobs from September 2022 to September 2023. The largest gains were in private education and health services, leisure and hospitality, manufacturing, other services, and professional and business services.