Unemployment Rate Inches Up

Missouri's seasonally adjusted unemployment rate increased by one-tenth of a percentage point in June 2023, increasing to 2.6 percent from the revised May 2023 rate of 2.5 percent. The June 2023 rate was half of a percentage point higher than the June 2022 rate of 2.1 percent. The estimated number of unemployed Missourians was 81,562 in June 2023, up by 2,663 from May.

The state's not-seasonally-adjusted unemployment rate increased in June 2023 by four-tenths of a percentage point to 3.3 percent. A year ago, the not-seasonally-adjusted rate was 2.3 percent. The corresponding not-seasonally-adjusted national rate for June 2023 was 3.8 percent.

Missouri's labor force participation rate was 63.6 percent in June 2023, nine-tenths of a percentage point higher than the national rate of 62.6 percent. Missouri's employment-population ratio was 61.9 percent in June 2023, 1.6 percentage points higher than the national rate of 60.3 percent.

Missouri's unemployment rate was 2.6 percent in June 2023, one point lower than the national rate of 3.6 percent. Missouri's unemployment rate has been at or below the national rate for more than eight years.

Goods-producing industries decreased by 400 jobs over the month, with mining, logging, and construction gaining 200 jobs and manufacturing decreasing by 600 jobs. Private service-providing industries increased by 9,600 jobs between May 2023 and June 2023. Employment in private service-providing industries increased in leisure and hospitality (3,900 jobs); trade, transportation, and utilities (3,600 jobs); other services (1,100 jobs); professional and business services (500 jobs); private education and health services (300 jobs); and financial activities (200 jobs). Total government employment increased by 800 jobs over the month, including state government (500 jobs) and federal government (300 jobs).

KPGZ News - Brian Watts contributed to this story