August Jobs Report

​     Missouri non-farm payroll employment increased from July 2021 to August 2021, and the seasonally adjusted unemployment rate decreased by two-tenths of a percentage point. Employment, seasonally adjusted, increased by 7,300 jobs over the month, with job gains in both goods-producing and service-providing industries.
     The state’s seasonally adjusted unemployment rate was 4.0 percent in August 2021, down from 4.2 percent in July 2021. Recovery from COVID-19-related layoffs continued with an increase of 73,400 jobs from August 2020 to August 2021. Short-term shortages of semiconductor chips may hold down employment in manufacturing in the next few months.
     Missouri’s smoothed seasonally adjusted unemployment rate decreased by two-tenths of a percentage point in August 2021, dropping to 4.0 percent from the July 2021 rate of 4.2 percent.
The national unemployment rate decreased from 5.4 percent in July 2021 to 5.2 percent in August 2021.
     The estimated number of unemployed Missourians was 123,158 in August 2021, down by 5,448 from July’s 128,606.
     A year ago, the state’s seasonally adjusted rate was 6.0 percent, and the not-adjusted rate was 6.1 percent.
With the start of the COVID-19 pandemic now more than a year in the past, the August 2021 rate was 2.0 percentage points lower than the August 2020 rate. 
     Due to benchmark revisions, Missouri’s unemployment rate rose a tenth of a percentage point higher than the national rate in January and February of 2020, but has been below the national rate for every month since February 2020.
    Goods-producing industries gained 5,300 jobs over the month with gains in both durable and non-durable goods. Meanwhile, service-providing industries gained 2,000 jobs between July and August 2021, with increases in leisure & hospitality (+3,300 jobs) and professional & business services (+1,600 jobs). Government employment showed a decrease of 3,200 jobs over the month. 
     Total payroll employment increased by 73,400 jobs from August 2020 to August 2021, reflecting the recovery from job cuts brought on by the initial wave of COVID-19 infections.