MIssouri unemployment drops to 3.4 percent

(From the Missouri Department of Economic Development)

Missouri’s unemployment rate edged down another tenth of a point to 3.4 percent in July, the lowest it’s been since June 2000. Nonfarm payroll employment in the state was little changed from the revised June level.

The state’s unemployment rate has been edging down from the 3.7 percent level at the beginning of the year. Missouri’s rate has now been lower than the comparable U.S. rate (currently 3.9 percent) for 39 consecutive months.

The July not-seasonally-adjusted rate was 3.8 percent in Missouri, compared to the U.S. figure of 4.1.

Nonfarm payroll employment reached 2,904,400 in July, an increase of 100 from June,

Increased employment in some industries in July was essentially offset by decreased employment in others. Durable goods manufacturing employment was up by 2,000 over the month, while retail trade and health care and social assistance each added 700 jobs. Decreases occurred in administrative, support, and waste management services (-1,800) and arts, entertainment, and recreation (-1,200). Other gains or decreases were smaller.

Employment has been trending upward, increasing by 8,800 jobs between May and July and by 34,700 (1.2%) since July 2017. Over-the-year growth occurred in most reported industries. Health care and social assistance employment was up by 10,900 jobs, while durable goods manufacturing added 5,600. Arts, entertainment and recreation; retail trade; and administrative, support, and waste management services each added between 3,500 and 4,000 jobs over the year.

For the full labor report featuring industries that experienced employment gains and losses over the month, click here