Missouri Unemployment Rate Decreases

Missouri's smoothed seasonally adjusted unemployment rate decreased by one-tenth of a percentage point in March, declining to 2.5 percent from the revised February rate of 2.6 percent. The March 2023 rate remained unchanged compared to March 2022. The estimated number of unemployed Missourians was 77,408 in March 2023, down by 2,281 from February's 79,689.

Missouri's labor force participation rate was 62.9 percent in March, three-tenths of a percentage point higher than the national rate of 62.6 percent. Missouri's employment-population ratio was 61.4 percent in March 2023, one percentage point higher than the national rate of 60.4 percent.

Missouri's unemployment rate was 2.5 percent in March 2023, one percentage point lower than the national rate of 3.5 percent. Missouri's unemployment rate has been at or below the national rate for more than seven years.

Goods-producing industries increased by 700 jobs over the month, with mining, logging, and construction gaining 400 jobs and manufacturing gaining 300 jobs. Private service-providing industries increased by 1,400 jobs between February 2023 and March 2023.

KPGZ News - Brian Watts contributed to this story