Another Record Unemployment Month for Missouri

Missouri saw another drop in its unemployment in July, marking the second month in a row that it reported a record low percent of unemployed workers, and is the lowest recorded seasonally adjusted unemployment rate in Missouri since the data series began in 1976.

Missouri's smoothed seasonally adjusted unemployment rate decreased by another three-tenths of a percentage point in July, declining to 2.5 percent from the revised June rate of 2.8 percent. The July 2022 rate was 1.8 percent lower than the July 2021 rate. A year ago, the state's seasonally adjusted rate was 4.3 percent. The estimated number of unemployed Missourians was 77,925 in July 2022, down by 6,986 from June's 84,911.       

The national unemployment rate decreased from 3.6 in June 2022 to 3.5 in July 2022. Missouri's unemployment rate has been at or below the national rate for the last five years.        

Goods-producing industries increased by 4,900 jobs over the month, with manufacturing gaining 3,600 jobs while mining, logging, and construction gained 1,300 jobs. Private service-providing industries increased by 5,600 jobs between June and July. Employment in private service-providing industries increased in leisure and hospitality by 3,400 jobs; professional and business services by 2,200 jobs; other services by 2,200 jobs; and trade, transportation, and utilities by 600 jobs. 

KPGZ News - Brian Watts contributed to this story