August Jobs Report

     Missouri non-farm payroll employment decreased by 5,700 jobs from July 2022 to August 2022, and the seasonally adjusted unemployment rate remained unchanged at 2.5 percent. Private industry employment decreased by 3,800 jobs and government employment decreased by 1,900 jobs. The state's seasonally adjusted unemployment rate was 2.5 percent in August 2022, remaining unchanged from July 2022. Over the year, there was an increase of 55,600 jobs from August 2021 to August 2022, and the unemployment rate decreased by 1.6 percentage points, from 4.1 percent in August 2021 to 2.5 percent in August 2022.       
     While the data is preliminary and subject to revision, the preliminary August 2022 unemployment rate of 2.5 percent is the lowest recorded seasonally adjusted unemployment rate in Missouri since the data series began in 1976. This matches the previous low of 2.5 percent in July 2022. There was a decrease of more than 4,100 in the civilian labor force, with both the number of employed and the number of unemployed down over the month. The labor force participation rate and employment-to-population ratios declined by one-tenth of a percentage point each as well.

UNEMPLOYMENT       
     Missouri's smoothed seasonally adjusted unemployment rate was unchanged in August 2022 at 2.5 percent. The August 2022 rate was 1.6 percent lower than the August 2021 rate of 4.1 percent. The estimated number of unemployed Missourians was 76,134 in August 2022, down by 1,789 from July. 
     The national unemployment rate increased from 3.5 in July 2022 to 3.7 in August 2022. Missouri's unemployment rate has been at or below the national rate for the last five years.        
The state's not-seasonally-adjusted unemployment rate increased in August 2022, rising by one-tenth of a percentage point to 3.0 percent from the July 2022 not-seasonally-adjusted rate of 2.9 percent. A year ago, the not-seasonally-adjusted rate was 4.4 percent. The corresponding not-seasonally-adjusted national rate for August 2022 was 3.8 percent.        
     Missouri's labor force participation rate was 62.4 percent in August 2022, down one-tenth of a percentage point compared to July, and tied with the national rate. Missouri's employment-population ratio was 60.8 percent in August 2022, down one-tenth of a percentage point from July, and seven-tenths of a percentage point higher than the national rate of 60.1 percent.   

EMPLOYMENT      
     Missouri's non-farm payroll employment was 2,922,200 in August 2022, down by 5,700 from the revised July 2022 figure. The July 2022 total was revised upward from the preliminary estimate with an increase of 700 jobs.        
     Goods-producing industries decreased by 2,600 jobs over the month, with manufacturing losing 1,200 jobs and mining, logging, & construction losing 1,400 jobs. Private service-providing industries decreased by 1,200 jobs between July 2022 and August 2022. Employment in private service-providing industries decreased in leisure & hospitality (-1,700 jobs); other services (-1,600 jobs); information (-600 jobs); professional & business services (-200 jobs); and financial activities (-100 jobs). Employment increased in educational & health services (1,900 jobs) and trade, transportation, & utilities (1,100 jobs).  Government employment decreased by 1,900 jobs over the month with losses in local government (-2,000 jobs) and federal government (-300 jobs).        
     Over the year, total payroll employment increased by 55,600 jobs from August 2021 to August 2022. The major private-sector industry groups that shared in the increase were professional & business services (20,600 jobs); leisure & hospitality (11,100 jobs); mining, logging, & construction (7,800 jobs); other services (5,600 jobs); educational & health services (4,100 jobs); manufacturing (4,000 jobs); trade, transportation, & utilities (3,700 jobs); and information (100 jobs). Employment decreased in financial activities (-2,200 jobs). Government employment increased over the year, with a gain of 800 jobs. The largest governmental employment increase was in state government (2,200 jobs) and local government (1,300 jobs). Employment decreased over the year in federal government (-2,700 jobs).