March 2022 Jobs Report

     Missouri non-farm payroll employment decreased slightly from February 2022 to March 2022, and the seasonally adjusted unemployment rate decreased by one-tenth of a percentage point. Employment, seasonally adjusted, decreased by 200 jobs over the month. Private industry employment increased by 600 jobs, while government employment declined by 800 jobs. The state’s seasonally adjusted unemployment rate was 3.6 percent in March 2022, down from 3.7 percent in February 2022. Over the year, there was an increase of 82,100 jobs from March 2021 to March 2022, and the seasonally adjusted unemployment rate decreased by 1.2 percentage points, from 4.8 percent in March 2021 to 3.6 percent in March 2022.

UNEMPLOYMENT
     Missouri’s smoothed seasonally adjusted unemployment rate decreased by one-tenth of a percentage point in March 2022, declining to 3.6 percent from the revised February 2022 rate of 3.7 percent. The March 2022 rate was 1.2 percentage points lower than the March 2021 rate. The estimated number of unemployed Missourians was 109,474 in March 2022, down by 4,541 from February’s 114,288.
     The national unemployment rate decreased from 3.8 percent in February 2022 to 3.6 percent in March 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 decreased in March 2022, falling by 0.1 percentage points to 3.6 percent from the February 2022 not-seasonally-adjusted rate of 3.7 percent. The corresponding not-seasonally-adjusted national rate for March 2022 was 3.8 percent.

EMPLOYMENT
    Missouri’s seasonally adjusted non-farm payroll employment was 2,904,300 in March 2022, down by 200 from the revised February 2022 figure. The February 2022 total was unchanged from the preliminary estimate.
     Goods-producing industries remained unchanged over the month, with mining, logging and construction gaining 2,100 jobs and manufacturing declining by 2,100 jobs. Private service-providing industries gained 600 jobs between February 2022 and March 2022, with increases in education & health services (+2,800 jobs); leisure & hospitality (+500 jobs); financial activities (+200 jobs); and information (+200 jobs). Employment in private service-providing industries decreased in trade, transportation, & utilities (-3,000 jobs) and other services (-100 jobs). Government employment decreased by 800 jobs over the month.
     Over the year, total payroll employment increased by 82,100 jobs from March 2021 to March 2022. Most of the major private-sector industry groups shared in the increase, with the largest gain in leisure & hospitality (+31,600 jobs), followed by professional & business services (+20,300 jobs); trade, transportation, & utilities (+11,100 jobs); mining, logging & construction (+9,900 jobs); other services (+6,100 jobs); educational and health services (+700 jobs); manufacturing (+300 jobs); and information (+200 jobs). Employment in financial activities declined by 2,600 jobs. Government employment increased over the year, with a gain of 4,500 jobs. The largest governmental employment increase was in state government (+3,000 jobs) and followed by local government (+2,600 jobs).