January 2022 Jobs Report
Missouri non-farm payroll employment increased from December 2021 to January 2022, and the seasonally adjusted unemployment rate decreased by one-tenth of a percentage point. Employment, seasonally adjusted, increased by 9,100 jobs over the month, with job gains in both goods-producing and service-providing industries. The state’s seasonally adjusted unemployment rate was 3.8 percent in January 2022, down from the annually revised 3.9 percent in December 2021. Over the year, there was an increase of 86,200 jobs from January 2021 to January 2022, and the seasonally adjusted unemployment rate decreased by 1.2 percentage points, from 5.0 percent in January 2021 to 3.8 percent in January 2022. ANNUAL REVISIONS FOR 2021 DATA
With the release of January 2022 data, previously released employment and unemployment estimates for Missouri statewide and sub-state areas from both Local Area Unemployment Statistics (LAUS) and Current Employment Statistics (CES) programs have been revised through the annual revision and benchmarking process. Revised estimates reflect additional data and estimation methods developed over the year, including new population controls from the Census Bureau, updated input data, and reestimation.
The revision process resulted in Missouri’s seasonally adjusted unemployment rate in 2021 increasing by 0.1 to 0.7 percentage points in the months of 2021. December’s revised unemployment rate was 3.9 percent, compared to the previously released 3.3 percent. This change is due to reestimations and additional data that show the number of unemployed in Missouri to be higher than originally estimated, while the number of individuals employed being lower than originally estimated.
During 2021, Missouri’s unemployment rate decreased from a revised 5.0 percent in January 2021 to 3.9 percent in December, and remained at or below the national rate for the year.
JANUARY 2022 UNEMPLOYMENT
Missouri’s smoothed seasonally adjusted unemployment rate decreased by one-tenth of a percentage point in January 2022, declining to 3.8 percent from the revised December 2021 rate of 3.9 percent. The January 2022 rate was 1.2 percentage points lower than the January 2021 rate.
The national unemployment rate increased from 3.9 percent in December 2021 to 4.0 percent in January 2022. The estimated number of unemployed Missourians was 118,052 in January 2022, down by 2,073 from December’s 120,125.
The state’s not-seasonally-adjusted unemployment rate increased in January 2022, rising by 0.7 percentage points to 4.1 percent from the December 2021 not-seasonally-adjusted rate of 3.4 percent. The corresponding not-seasonally-adjusted national rate for January 2022 was 4.4 percent.
Missouri’s seasonally adjusted non-farm payroll employment was 2,894,800 in January 2022, up by 9,100 from the revised December 2021 figure. The December 2021 total was revised upward by 8,900 from the preliminary estimate, producing a revised increase of 18,200 jobs from November 2021 to December 2021 and a revised increase of 84,100 jobs from December 2020 to December 2021.
Goods-producing industries gained 2,000 jobs over the month, with manufacturing gaining 3,000 jobs and construction declining by 1,000. Private service-providing industries gained 6,700 jobs between December 2021 and January 2022, with increases in professional & business services (+6,700 jobs); leisure & hospitality (+900 jobs); other services (+800 jobs); education & health services (+400 jobs); and information (+100 jobs). Government employment increased by 400 jobs over the month.
Read the full report at https://meric.mo.gov/missouri-monthly-jobs-report.
Comments are closed.
Grain Valley News
Grain Valley News is a free community news source published weekly online.
PO Box 2972
Grain Valley MO 64029