Missouri’s nonfarm payroll employment increased by 8,100 jobs in March, and the seasonally adjusted unemployment rate remained unchanged from February’s 3.3%, report officials with the Missouri Department of Higher Education and Workforce Development Economic Research and Information Center, which provided all of the data presented here in its Monthly Jobs Report.
Private industry employment increased by 7,100 jobs, and government employment increased by 1,000 jobs.
Over the year, there was an increase of 54,200 jobs from March 2023 to March 2024, and the unemployment rate increased by half of a percentage point, from 2.8% in March 2023 to 3.3% in March 2024.
Missouri's smoothed seasonally-adjusted unemployment rate held steady in March at 3.3%. The March 2024 rate was half of a percentage point higher than the March 2023 rate. The estimated number of unemployed Missourians was 103,681 in March, up by 718 from the revisedFebruary total of 102,963. In addition, the estimated number of employed Missourians also increased in March, growing by 2,639 to reach a total of 3,000,264.
The state's not-seasonally-adjusted unemployment decreased in March by three-tenths of a percentage point to 3.7% from the February rate of 4%. A year ago, that rate was 3.2%, and the corresponding not-seasonally-adjusted national rate for March 2024 was 3.9%.
Missouri's labor force participation rate was 63.1% in March, four-tenths of a a percentage point higher than the national rate of 62.7%. Missouri's employment-population ratio was 61% in March, seven-tenths of a percentage point higher than the national rate of 60.3%. Missouri's unemployment rate was 3.3% in March, half a percentage point lower than the national rate of 3.8%. The statewide unemployment rate has been at or below the national rate for more than eight years.
Missouri's nonfarm payroll employment was 3,022,000 in March, up by 8,100 from the revised February figure. The February total was revised upward by 2,500 jobs from the preliminary estimate.
Goods-producing industries increased by 200 jobs over the month, with manufacturing gaining 200 jobs and mining, logging and construction declining by 400 jobs.
Private service-providing industries increased by 7,300 jobs between February and March. Employment in private service-providing industries increased in leisure and hospitality (6,200 jobs); private education and health services (2,100 jobs); trade, transportation and utilities (1,800 jobs); and other services (1,300 jobs).
Employment decreased in professional and business services (-3,200 jobs) financial activities (-700 jobs) and information (-200 jobs).
Total government employment increased by 1,000 jobs over the month, with increases in federal (400 jobs), local (400 jobs) and state government (200 jobs).
Over the year, total payroll employment increased by 54,200 jobs from March 2023 to March 2024. The largest gains were in private education and health services (20,100 jobs); leisure and hospitality (11,700 jobs); mining, logging and construction (7,300 jobs); trade, transportation and utilities (5,600 jobs); financial activities (3,300 jobs); and other services (2,800 jobs).
Employment decreased in professional and business services (-6,200 jobs), information (-300 jobs) and manufacturing (-300 jobs). Government employment increased by 10,200 jobs over the year, with increases in state (4,700 jobs), local (3,700 jobs) and federal government (1,800 jobs).
Read the full report at meric.mo.gov/missouri-monthly-jobs-report.
