Unemployment Continues to Climb

Missouri's seasonally adjusted unemployment rate increased by one-tenth of a percentage point in August, increasing to 2.8 percent from the revised July rate of 2.7 percent. The August 2023 rate was four-tenths of a percentage point higher than the August 2022 rate of 2.4 percent. The estimated number of unemployed Missourians was 87,958 in August, up by 3,777 from July's 84,181.

Missouri's labor force participation rate was 63.7 percent in August 2023, nine-tenths of a percentage point higher than the national rate of 62.8 percent. Missouri's employment-population ratio was 61.9 percent in August 2023, 1.5 percentage points higher than the national rate of 60.4 percent.

Missouri's unemployment rate was 2.8 percent in August 2023, one point lower than the national rate of 3.8 percent. Missouri's unemployment rate has been at or below the national rate for more than eight years.

Goods-producing industries decreased by 7,100 jobs over the month, with decreases of 6,500 jobs in manufacturing and 600 jobs in mining, logging, and construction.  Private service-providing industries declined by 9,000 jobs between July 2023 and August 2023.

Employment in private service-providing industries decreased in trade, transportation, and utilities (-7,800 jobs); professional and business services (-900 jobs); financial activities (-900 jobs); and private education and health services (-500 jobs). Employment increased in leisure and hospitality (800 jobs) and information (300 jobs).

Total government employment increased by 2,400 jobs over the month, with increases in local (2,100 jobs), federal (200 jobs), and state government (100 jobs).

KPGZ News - Brian Watts contributed to this story