Missouri’s nonfarm payroll employment increased by 5,600 jobs in October, and the seasonally adjusted unemployment rate increased by two-tenths of a percentage point, report officials with the Missouri Department of Higher Education and Workforce Development Economic Research and Information Center, which provided all of the data presented here in its Monthly Jobs Report.
Private industry employment increased by 4,800 jobs, and government employment increased by 800 jobs.
The state’s seasonally-adjusted unemployment rate was 23.1% in October, up from 2.9% in September.
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 2.8% in October 2022 to 3.1% in October 2023.
Missouri's smoothed seasonally-adjusted unemployment rate increased by two-tenths of a percentage point in October, increasing to 3.1% from the revised rate of 2.9% in September. The October 2023 rate was four-tenths of a percentage point higher than the October 2022 rate. The estimated number of unemployed Missourians was 97,812 in October, up by 6,137 from September’s 91,675.
The state's not-seasonally-adjusted unemployment increased in October by six-tenths of a percentage point to 3.2% from the September rate of 2.6%. A year ago, that rate was 2.3%, and the corresponding not-seasonally-adjusted national rate for October 2023 was 3.6%.
Missouri's labor force participation rate was 63.6% in October, nine tents of a a percentage point higher than the national rate of 62.7%. Missouri's employment-population ratio was 61.6% in October, 1.4 percentage points higher than the national rate of 60.2%. Missouri's unemployment rate was 3.1% in October, eight-tenths of a percentage point lower than the national rate of 3.9%. The statewide 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, up 5,600 from the revised September figure. The September 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 and October. Employment in private service-providing industries increased in lieder and hospitality (3,600 jobs); private education and health services (2,800 jobs); financial activities (1,500 jobs); trade, transportation and utilities (500 jobs); and other services (500 jobs).
Employment decreased in professional and business services (-100 jobs.
Total government employment increased by 800 jobs over the month, with increases in local (800 jobs) and federal government (400 jobs) and a decrease in state government (-400 jobs).
Over the year, total payroll employment increased by 41,300 jobs from October 2022 to October 2023. The largest gains were in private education and health services (17,200 jobs); leisure and hospitality (11,400 jobs); other services (4,800 jobs); trade, transportation and utilities (3,000 jobs); manufacturing (1,700 jobs); financial activities (1,500 jobs); and professional and business services (300 jobs).
Employment decreased in mining, logging and construction (-4,300 jobs) and information (-2,600 jobs). Government employment increased by 8,300 jobs over the year, with increases in local government (7,300 jobs) and federal (1,000 jobs).
Read the full report at meric.mo.gov/missouri-monthly-jobs-report.
