Missouri nonfarm payroll employment increased by 7,900 jobs in August 2024, and the seasonally adjusted unemployment rate increased by one-tenth of a percentage point to 3.9 percent. Private industry employment increased by 5,800 jobs, while government employment grew by 2,100 jobs. Over the year, there was an increase of 98,500 jobs from August 2023 to August 2024, with the unemployment rate rising by seven-tenths of a percentage point, from 3.2 percent in August 2023 to 3.9 percent in August 2024.
Employment
Missouri’s nonfarm payroll employment totaled 3,066,800 in August 2024, reflecting an increase of 7,900 from the revised July 2024 figure. The July 2024 total was adjusted upward by 13,300 jobs from the preliminary estimate.
Goods-producing industries saw an increase of 2,900 jobs over the month, with manufacturing gaining 3,400 jobs. Private service-providing industries also grew by 2,900 jobs between July 2024 and August 2024. Employment in private service-providing industries increased in private education and health services (1,800 jobs), professional and business services (1,300 jobs), trade, transportation, and utilities (900 jobs), other services (700 jobs), and information (300 jobs). However, employment decreased in leisure and hospitality (-1,900 jobs) and financial activities (-200 jobs). Total government employment rose by 2,100 jobs over the month, with state government adding 1,100 jobs and local government increasing by 1,000 jobs.
Over the year, total payroll employment grew by 98,500 jobs from August 2023 to August 2024. Employment expanded in private education and health services (25,700 jobs), leisure and hospitality (22,300 jobs), trade, transportation, and utilities (10,500 jobs), mining, logging, and construction (8,000 jobs), manufacturing (7,900 jobs), financial activities (6,200 jobs), professional and business services (2,900 jobs), other services (2,200 jobs), and information (100 jobs). Government employment increased by 12,700 jobs, with gains in local (6,100 jobs), state (5,600 jobs), and federal government (1,000 jobs).
Unemployment
Missouri’s smoothed seasonally adjusted unemployment rate rose by one-tenth of a percentage point in August 2024 to 3.9 percent. This represents a seven-tenths of a percentage point increase from the August 2023 rate of 3.2 percent. The estimated number of unemployed Missourians reached 122,293 in August 2024, up by 1,445 from the revised July total of 120,848.
The state’s not-seasonally-adjusted unemployment rate decreased in August 2024, dropping by seven-tenths of a percentage point to 3.9 percent from the July 2024 not-seasonally-adjusted rate of 4.6 percent. One year earlier, the not-seasonally-adjusted rate was 3.3 percent. The corresponding not-seasonally adjusted national rate for August 2024 stood at 4.4 percent.
Missouri’s labor force participation rate reached 63.9 percent in August 2024, 1.2 percentage points higher than the national rate of 62.7 percent. Missouri’s employment-population ratio stood at 61.4 percent in August 2024, which is 1.4 percentage points above the national rate of 60 percent. Missouri’s unemployment rate was 3.9 percent in August 2024, three-tenths of a percentage point lower than the national rate of 4.2 percent. Missouri’s unemployment rate has remained at or below the national rate for more than nine years.
See the full Jobs Report here.
