Missouri Jobless Rate Falls While National Rate Rises

Missouri's smoothed seasonally adjusted unemployment rate decreased by one-tenth of a percent in February 2023. The rate falls to 2.6 percent from the revised January 2023 rate of 2.7 percent.

The February 2023 rate was also one-tenth of a percentage point lower than the February 2022 rate. A year ago, the state's seasonally adjusted rate was 2.7 percent. The estimated number of unemployed Missourians was 79,698 in February 2023, down by 2,184 from January's 81,882.

The national unemployment rate increased last month from 3.4 in January 2023 to 3.6 percent in February 2023. Missouri's unemployment rate has been at or below the national rate for more than the last five years.

Missouri's labor force participation rate was 62.8 percent in February 2023, three-tenths of a percentage point higher than the national rate of 62.5 percent. Missouri's employment-population ratio was 61.1 percent in February 2023, nine-tenths of a percentage point higher than the national rate of 60.2 percent.

KPGZ News - Brian Watts contributed to this story