Missouri’s nonfarm payroll employment experienced a minor dip in September 2024, with a reduction of 900 jobs. Despite this decrease, the seasonally adjusted unemployment rate remained unchanged from August, holding steady at 3.9%. The private sector saw a decrease of 1,300 jobs, while government employment grew by 400 jobs. Over the year, Missouri added 86,500 jobs compared to September 2023, though the unemployment rate increased by 0.6 percentage points, rising from 3.3% in September 2023 to 3.9% in September 2024.
Employment Overview – September 2024
Missouri’s nonfarm payroll employment totaled 3,064,800 in September 2024, down by 900 jobs from August. The August figures were revised downward by 1,100 jobs, contributing to this monthly decline.
Goods-Producing Sector: This sector experienced a decrease of 400 jobs. Mining, logging, and construction shed 300 jobs, while manufacturing lost 100 jobs.
Private Service-Providing Industries: Employment in this sector fell by 900 jobs. Key declines were seen in:
- Leisure and Hospitality: -1,600 jobs
- Trade, Transportation, and Utilities: -1,200 jobs
- Professional and Business Services: -400 jobs
- Information: -400 jobs
However, some areas showed growth, including:
- Financial Activities: +1,200 jobs
- Private Education and Health Services: +900 jobs
- Other Services: +600 jobs
Government Employment: Government jobs grew by 400, with local government adding 300 positions and state government increasing by 100 jobs.
Annual Employment Growth
Over the past year, Missouri’s payroll employment grew by 86,500 jobs. The largest gains came from:
- Private Education and Health Services: +25,800 jobs
- Leisure and Hospitality: +18,500 jobs
- Financial Activities: +8,400 jobs
- Trade, Transportation, and Utilities: +6,700 jobs
- Mining, Logging, and Construction: +6,600 jobs
- Other Services: +3,100 jobs
- Professional and Business Services: +2,400 jobs
- Manufacturing: +2,100 jobs
The only decline occurred in Information, which saw a loss of 100 jobs. Government employment grew by 13,000 positions, with local (+6,700 jobs), state (+5,300 jobs), and federal government (+1,000 jobs) all contributing to this increase.
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Unemployment Rate Holds Steady
Missouri’s seasonally adjusted unemployment rate remained unchanged at 3.9% in September 2024, up from 3.3% a year earlier. The total number of unemployed Missourians was 121,636 in September, down by 654 from August.
On a not-seasonally-adjusted basis, the state’s unemployment rate dropped to 3% in September 2024, a decrease from the 3.9% reported in August. In September 2023, the rate stood at 2.7%. Nationally, the not-seasonally-adjusted unemployment rate for September 2024 was 3.9%.
Labor Force Participation
Missouri’s labor force participation rate stood at 63.9% in September 2024, outperforming the national rate of 62.7%. Additionally, Missouri’s employment-population ratio was 61.4%, compared to the national figure of 60.2%. Missouri’s unemployment rate of 3.9% also remained below the national rate of 4.1%, marking more than nine years of consistent performance below the national average.
To view the full September 2024 Missouri Job Report, click here.
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