Missouri Unemployment Rate Reaches Record Low

Missouri’s unemployment rate is now below 3 percent.

This month’s jobs report showed Missouri non-farm payroll employment increased by 5,300 jobs from May to June with the seasonally adjusted unemployment rate dropping by three-tenths of a percentage point to 2.8 percent. Private industry jobs went up by 2,000. The government employment job number was up by 3,300. Over the year, there was an increase of 65,500 jobs from June of 2021 to June of 2022. During that time, the unemployment rate went down by 1.6 percentage points. The data is considered preliminary and subjective to revision, but the 2.8 percent unemployment rate is the lowest recorded seasonally adjusted employment rate in Missouri since the data began being tracked in 1976.

The estimated number of unemployed Missourians was 84,942 in June 2022, down by 11,519 from May’s 96,461.

The national unemployment rate remained unchanged over the month. Missouri’s unemployment rate has been at or below the national rate for the last five years.

Missouri’s non-farm payroll employment was 2,904,400 in June 2022, up by 5,300 from the revised May 2022 figure. The May 2022 total was revised upward from the preliminary estimate with an increase of 1,800 jobs.

Goods-producing industries decreased by 400 jobs over the month. Private service-providing industries increased by 2,400 jobs between May 2022 and June 2022. Employment in private service-providing industries increased in leisure & hospitality (2,400 jobs); educational & health services (1,200 jobs); financial activities (900 jobs); trade, transportation & utilities (800 jobs); and other services (600 jobs). Employment decreased in professional & business services (-3,300 jobs) and information (-200 jobs). Government employment increased by 3,300 jobs over the month with gains in state government (1,800 jobs) and local government (1,700 jobs).

Over the year, total payroll employment increased by 65,500 jobs from June 2021 to June 2022.

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