Missouri Unemployment Rate Stagnant

Missouri's seasonally adjusted unemployment rate remained unchanged for the third month at 2.5 percent. The March and April unemployment rate was also 2.5 percent.

The May 2023 rate increased by four-tenths of a percentage point from the May 2022 rate of 2.1 percent. The estimated number of unemployed Missourians was 78,891 in May 2023, up by 965 from April.

The state's not-seasonally-adjusted unemployment rate increased in May 2023, rising by half of a percentage point to 2.9 percent from the April 2023 not-seasonally-adjusted rate of 2.4 percent. A year ago, the not-seasonally-adjusted rate was 2.3 percent. The corresponding not-seasonally-adjusted national rate for May 2023 was 3.4 percent.

Missouri's labor force participation rate was 63.4 percent in May 2023, eight-tenths of a percentage point higher than the national rate of 62.6 percent. Missouri's employment-population ratio was 61.8 percent in May 2023, 1.5 percentage points higher than the national rate of 60.3 percent.

Missouri's unemployment rate of 2.5 percent was 1.2 percentage points lower than the national rate of 3.7 percent. Missouri's unemployment rate has been at or below the national rate for more than eight years.

Goods-producing industries increased by 900 jobs over the month, with manufacturing gaining 600 jobs and mining, logging, and construction gaining 300 jobs. Private service-providing industries increased by 2,400 jobs between April 2023 and May 2023. Employment in private service-providing industries increased in professional and business services (3,800 jobs), leisure and hospitality (1,000 jobs), and other services (500 jobs).

KPGZ News - Brian Watts contributed to this story