Missouri Unemployment Rate Dips Slightly

Missouri’s seasonally adjusted unemployment rate went down by two-tenths of a percentage point from July to August.

The Missouri Department of Economic Development says the August unemployment rate was 4.0 percent after registering a 4.2 mark in July. Seasonally adjusted employment increased by 7,300 jobs over the month. The job gains were realized in goods-producing and service-providing industries. Recovery from COVID-19-related layoffs continued with an increase of 73,400 jobs from August 2020 to August of 2021. The short-term shortages of semiconductor chips may still hold down employment in the next few months.

The national unemployment rate was down from 5.4 percent in July to 5.2 percent in August.

The estimated number of unemployed Missourians was 123,158 in August 2021, down by 5,448 from July’s 128,606.

A year ago, the state’s seasonally adjusted rate was 6.0 percent, and the not-adjusted rate was 6.1 percent.

The largest job gains in the past year from August 2020 to August 2021 came from leisure and hospitality with a gain of 33,700 jobs, professional and business services with 17,700 jobs, educational and health services with a gain of 12,100 jobs, and transportation and utilities and 8,700 jobs.

Financial activity jobs were down by 5,600. Government employment was down over the year was down by 6,200 jobs. Most of those jobs were in federal and local government.