Unemployment Trended Higher in October

Missouri's seasonally adjusted unemployment rate increased by two-tenths of a percentage point in October. The unemployment rate rose to 2.6 percent from the revised September rate of 2.4 percent. The rate in October was 1.4 percent lower than the October 2021 rate.

A year ago, the state's seasonally adjusted rate was 4.0 percent. The estimated number of unemployed Missourians was 78,871 in October 2022, up by 4,337 from September. The number of employed declined by 2,024 in October 2022.      

The national unemployment rate also increased two-tenths of a percent in Octobrer. In September the national rate was 3.5 percent and rose to 3.7 percent in October. Missouri's unemployment rate has been at or below the national rate for the last five years.     

Goods-producing industries decreased by 100 jobs over the month, with manufacturing gaining 800 jobs and mining, logging, & construction losing 900 jobs. Private service-providing industries increased by 3,600 jobs between September 2022 and October 2022.

Employment in private service-providing industries increased in professional and business services (3,600 jobs); leisure and hospitality (1,500 jobs); financial activities (600 jobs); information (600 jobs); other services (300 jobs); and educational and health services (200 jobs).

KPGZ News - Brian Watts contributed to this story