Missouri’s job market showed positive momentum in December 2024, with nonfarm payroll employment increasing by 11,200 jobs while the seasonally adjusted unemployment rate held steady at 3.7%. This marks a significant annual increase, with 84,700 more jobs compared to December 2023, despite a slight uptick in unemployment from 3.3% to 3.7% over the year.
Employment Growth in December 2024
Missouri’s nonfarm payroll employment reached 3,085,300 jobs in December, up 11,200 jobs from November 2024. However, November’s employment total was revised downward by 2,900 jobs from initial estimates.
Industry Highlights:
- Goods-Producing Industries: Decreased by 1,500 jobs overall:
- Mining, logging, and construction lost 1,300 jobs
- Manufacturing declined by 200 jobs
- Private Service-Providing Industries: Increased by 9,900 jobs, with notable gains in:
- Trade, transportation, and utilities: +5,700 jobs
- Private education and health services: +2,800 jobs
- Professional and business services: +1,200 jobs
- Financial activities: +500 jobs
- Leisure and hospitality: +100 jobs
- Other services and information: Declined by 200 jobs each
- Government Employment: Increased by 2,800 jobs, including:
- Local government: +2,400 jobs
- State government: +300 jobs
- Federal government: +100 jobs
Year-Over-Year Employment Trends
Compared to December 2023, Missouri has added 84,700 jobs across various industries:
- Private education and health services: +27,500 jobs (largest annual gain)
- Leisure and hospitality: +8,200 jobs
- Professional and business services: +7,700 jobs
- Financial activities: +6,600 jobs
- Mining, logging, and construction: +4,200 jobs
- Other services: +3,500 jobs
- Manufacturing: +3,200 jobs
- Trade, transportation, and utilities: +3,100 jobs
- Information sector: Declined by 1,000 jobs
- Government sector: Increased by 21,700 jobs
- Local government: +16,900 jobs
- State government: +4,000 jobs
- Federal government: +800 jobs
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Missouri’s Unemployment Rate Holds at 3.7%
The state’s seasonally adjusted unemployment rate remained 3.7% in December 2024, reflecting an increase of four-tenths of a percentage point from December 2023 (3.3%).
The estimated number of unemployed Missourians stood at 115,866, down 2,393 from November 2024 (118,259).
Not-Seasonally-Adjusted Data:
- Missouri’s not-seasonally-adjusted unemployment rate dropped by 0.1 percentage points to 3.2% in December 2024, compared to 3.3% in November 2024.
- A year ago, the not-seasonally-adjusted rate was 2.9%.
- The national not-seasonally-adjusted unemployment rate for December 2024 was 3.8%.
Labor Force Participation & Employment Ratio:
- Missouri’s labor force participation rate: 63.9%, higher than the national rate of 62.5%.
- Employment-population ratio: 61.5%, exceeding the national rate of 60%.
- Missouri’s unemployment rate: 3.7%, which is lower than the national rate of 4.1%.
- Missouri’s unemployment rate has remained below or equal to the national rate for over nine years.
Missouri’s labor market continued to expand in December 2024, with notable employment gains in service industries, education, and healthcare. While the unemployment rate remained steady at 3.7%, the state’s job growth trajectory remains strong heading into 2025. With a higher labor force participation rate and a lower unemployment rate than the national average, Missouri’s economy remains resilient despite slight fluctuations in specific sectors.
To view the full December 2024 Missouri Job Report, click here.
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