Missouri employment falls by 900 jobs in September 2024, rate steady at 3.9%

Missouri’s nonfarm payroll employment dropped by 900 jobs in September 2024, while the state’s seasonally adjusted unemployment rate remained unchanged from August at 3.9 percent. Over the same period, private industry employment saw a decrease of 1,300 jobs, while government employment grew by 400 jobs. On a year-over-year basis, the state added 86,500 jobs, but the unemployment rate rose by six-tenths of a percentage point from 3.3 percent in September 2023 to 3.9 percent in September 2024.

Employment Overview

Missouri’s nonfarm payroll employment in September 2024 stood at 3,064,800, reflecting a decrease of 900 jobs from the revised August 2024 figure. The August total was revised downward by 1,100 jobs from the preliminary estimate.

Goods-producing industries lost 400 jobs in September 2024. Mining, logging, and construction employment declined by 300 jobs, while manufacturing fell by 100 jobs. Private service-providing industries dropped by 900 jobs during the month, with declines in leisure and hospitality (-1,600 jobs), trade, transportation, and utilities (-1,200 jobs), professional and business services (-400 jobs), and information (-400 jobs). On the other hand, employment rose in financial activities (1,200 jobs), private education and health services (900 jobs), and other services (600 jobs).

Government employment saw an increase of 400 jobs, primarily driven by local government, which added 300 jobs, while state government contributed 100 additional jobs.

Year-Over-Year Employment Trends

From September 2023 to September 2024, Missouri’s payroll employment grew by 86,500 jobs. The largest gains occurred in private education and health services (25,800 jobs), followed by leisure and hospitality (18,500 jobs), financial activities (8,400 jobs), and trade, transportation, and utilities (6,700 jobs). Gains were also seen in mining, logging, and construction (6,600 jobs), other services (3,100 jobs), professional and business services (2,400 jobs), and manufacturing (2,100 jobs). A minor loss of 100 jobs was recorded in the information sector.

Government employment increased by 13,000 jobs over the year, with growth in local (6,700 jobs), state (5,300 jobs), and federal government (1,000 jobs).

Unemployment Rate Steady

Missouri’s seasonally adjusted unemployment rate remained at 3.9 percent in September 2024. This rate is six-tenths of a percentage point higher than the 3.3 percent recorded in September 2023. The number of unemployed Missourians was estimated at 121,636 in September 2024, a slight decrease of 654 from the previous month.

The state’s not-seasonally-adjusted unemployment rate also fell to 3 percent in September 2024, down nine-tenths of a percentage point from the August 2024 rate of 3.9 percent. A year earlier, the not-seasonally-adjusted rate stood at 2.7 percent. The corresponding not-seasonally-adjusted national rate for September 2024 was 3.9 percent.

Labor Force Participation

Missouri’s labor force participation rate in September 2024 was 63.9 percent, surpassing the national rate of 62.7 percent by 1.2 percentage points. The state’s employment-population ratio stood at 61.4 percent, also 1.2 percentage points higher than the national rate of 60.2 percent.

Missouri’s unemployment rate of 3.9 percent was two-tenths of a percentage point lower than the national rate of 4.1 percent. Missouri has maintained an unemployment rate at or below the national average for more than nine years.

See the full Jobs Report at this link.

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