November 2022 Monthly Jobs Report

     Missouri non-farm payroll employment increased by 8,200 jobs from October 2022 to November 2022, and the seasonally adjusted unemployment rate increased by one-tenth of a percentage point. Private industry employment increased by 7,600 jobs and government employment increased by 600 jobs. The state's seasonally adjusted unemployment rate was 2.7 percent in November 2022, up from 2.6 percent in October 2022. Over the year, there was an increase of 72,800 jobs from November 2021 to November 2022, and the unemployment rate decreased by 1.2 percentage points, from 3.9 percent in November 2021 to 2.7 percent in November 2022.

UNEMPLOYMENT       
     Missouri's smoothed seasonally adjusted unemployment rate increased by one-tenth of a percentage point in November 2022, rising to 2.7 percent from the revised October 2022 rate of 2.6 percent. The November 2022 rate was 1.2 percentage points lower than the November 2021 rate. A year ago, the state's seasonally adjusted rate was 3.9 percent. The estimated number of unemployed Missourians was 83,000 in November 2022, up by 4,132 from October's 78,868.     
     The national unemployment rate remained unchanged over the month. 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 remained unchanged in November 2022, holding at October’s 2022 rate of 2.4 percent. A year ago, the not-seasonally-adjusted rate was 3.2 percent. The corresponding not-seasonally-adjusted national rate for November 2022 was 3.4 percent.        
     Missouri's labor force participation rate was 62.5 percent in November 2022, four-tenths of a percentage point higher than the national rate of 62.1 percent. Missouri's employment-population ratio was 60.8 percent in November 2022, nine-tenths of a percentage point higher than the national rate of 59.9 percent. Missouri's unemployment rate of 2.7 percent in November 2022 was one point lower than the national rate of 3.7 percent.    
   
EMPLOYMENT         
     Missouri's non-farm payroll employment was 2,940,300 in November 2022, up by 8,200 from the revised October 2022 figure. The October 2022 total was revised downward from the preliminary estimate with a decrease of 400 jobs.        
     Goods-producing industries increased by 4,200 jobs over the month, with mining, logging, & construction gaining 2,700 jobs and manufacturing gaining 1,500 jobs. Private service-providing industries increased by 3,400 jobs between October 2022 and November 2022. Employment in private service-providing industries increased in leisure & hospitality (2,600 jobs); financial activities (1,700 jobs); professional & business services (900 jobs); and educational & health services (100 jobs).  Employment decreased in trade, transportation, & utilities (-1,300 jobs); information (-400 jobs); and other services (-200 jobs).  Government employment increased by 600 jobs over the month an increase in local government (900 jobs) and a decrease in federal government (-300 jobs).       
     Over the year, total payroll employment increased by 72,800 jobs from November 2021 to November 2022. Most major private-sector industry groups that shared in the increase, with the largest gain in professional & business services (24,600 jobs); followed by leisure & hospitality (12,900 jobs); mining, logging, & construction (11,900 jobs); educational & health services (9,900 jobs); manufacturing (6,200 jobs); financial activities (5,000 jobs); and other services (3,000 jobs). Employment decreased in trade, transportation, & utilities (-1,400 jobs) and information (-300 jobs).  Government employment increased over the year, with a gain of 1,000 jobs. Government employment increased in local government (2,000 jobs) and state government (1,600 jobs). Employment decreased over the year in federal government (-2,600 jobs).