May Jobs Report
Missouri non-farm payroll employment decreased by 3,100 jobs from April 2022 to May 2022, and the seasonally adjusted unemployment rate decreased by three-tenths of a percentage point. Private industry employment decreased by 1,500 jobs and government employment decreased by 1,600 jobs. The state's seasonally adjusted unemployment rate was 3.1 percent in May 2022, down from 3.4 percent in April 2022. Over the year, there was an increase of 71,800 jobs from May 2021 to May 2022, and the unemployment rate decreased by 1.4 percentage points, from 4.5 percent in May 2021 to 3.1 percent in May 2022.
Missouri's smoothed seasonally adjusted unemployment rate decreased by three-tenths of a percentage point in May 2022, declining to 3.1 percent from the revised April 2022 rate of 3.4 percent. The May 2022 rate was 1.4 percentage points lower than the May 2021 rate. A year ago, the state's seasonally adjusted rate was 4.5 percent. The estimated number of unemployed Missourians was 96,446 in May 2022, down by 7,159 from April's 103,605.
The national unemployment rate remained unchanged over the month at 3.6 percent. 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 May 2022, rising by four-tenths of a percentage point to 2.8 percent from the April 2022 not-seasonally-adjusted rate of 2.4 percent. A year ago, the not-seasonally-adjusted rate was 4.7 percent. The corresponding not-seasonally-adjusted national rate for May 2022 was 3.4 percent.
Missouri's labor force participation rate was 63.3 percent in May 2022, 1.0 percentage point higher than the national rate of 62.3 percent. Missouri's employment-population ratio was 61.3 percent in May 2022, 1.2 points higher than the national rate of 60.1 percent. Missouri's unemployment rate was 3.1 in May 2022, 0.5 percentage points lower than the national rate of 3.6 percent.
Missouri's non-farm payroll employment was 2,897,300 in May 2022, down by 3,100 from the revised April 2022 figure. The April 2022 total was revised upward from the preliminary estimate with an increase of 1,100 jobs.
Goods-producing industries increased by 2,000 jobs over the month, with manufacturing gaining 1,800 jobs and mining, logging & construction gaining 200 jobs. Private service-providing industries decreased by 3,500 jobs between April 2022 and May 2022. Employment in private service-providing industries decreased in trade, transportation & utilities (-5,100 jobs); leisure & hospitality (-2,400 jobs); other services (-1,200 jobs); and financial activities (-200 jobs). Employment increased in professional & business services (3,500 jobs); educational & health services (1,700 jobs) and information (200 jobs). Government employment decreased by 1,600 jobs over the month with losses in local government (-1,100 jobs) and federal government (-600 jobs).
Over the year, total payroll employment increased by 71,800 jobs from May 2021 to May 2022. Most major private-sector industry groups shared in the increase, with the largest gain in professional & business services (24,900 jobs), followed by leisure & hospitality (22,400 jobs); trade, transportation, & utilities (8,600 jobs); mining, logging, & construction (8,200 jobs); manufacturing (5,000 jobs); other services (4,900 jobs); information (600 jobs); and educational & health services (300 jobs). Employment decreased in financial activities (-2,400 jobs). Government employment also decreased over the year, with a loss of 700 jobs. The largest governmental employment decrease was in federal government (-2,100 jobs) and local government (-500 jobs). Employment increased over the year in state government (1,900 jobs).
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