State Unemployement Continues to Trend Downward

Below is the article from today's Springfield Business Journal related to the latest Missouri Job numbers.  The signs are encouraging, but inline with opinions that the full recovery is still many months ahead.

Missouri's seasonally adjusted unemployment rate for October fell, even as the nationwide rate rose during the month, according to the latest jobs data from then state's Department of Economic Development.

According to the October state jobs report, Missouri's unemployment rate dropped by two-tenths of a point to 9.3 percent in October on a seasonally adjusted basis, compared to an uptick of four-tenths of a point to 10.2 percent nationwide.

When jobs data is not seasonally adjusted, Missouri posts an October unemployment rate of 8.9 percent, compared to 9.5 nationally. October marks the eighth consecutive month that Missouri's unemployment rate has been lower than the national rate, according to a DED news release.

DED data shows that total nonfarm payroll employment increased by approximately 4,000 jobs on a seasonally adjusted basis in October to more than $2.7 million. Job gains were concentrated in durable goods manufacturing, which rose by 2,200 with small gains in multiple industries and in private education and health services, which rose by 2,700.

Professional business services also showed an increase of 1,000, though the gains were partly offset by declines in other industries, such as trade, transportation and utilities, which posted a collective drop of 2,800, half of which were in retail trade. Government jobs also declined, by 1,300, mostly at the local level.