Missouri non-farm payroll employment increased from September 2021 to October 2021, and the seasonally adjusted unemployment rate decreased by one-tenth of a percentage point. Employment, seasonally adjusted, increased by 3,500 jobs over the month, with job gains in both goods-producing and service-providing industries. The state’s seasonally adjusted unemployment rate was 3.7 percent in October 2021, down from 3.8 percent in September 2021. Recovery from COVID-19-related layoffs continued with an increase of 72,300 jobs from October 2020 to October 2021.
UNEMPLOYMENT
Missouri’s smoothed seasonally adjusted unemployment rate decreased by one-tenth of a percentage point in October 2021, dropping to 3.7 percent from the September 2021 rate of 3.8 percent. The October 2021 rate was 1.3 percentage points lower than the October 2020 rate.
The national unemployment rate decreased from 4.8 percent in September 2021 to 4.6 percent in October 2021. The estimated number of unemployed Missourians was 114,556 in October 2021, down by 3,495 from September’s 118,051.
The state’s not-seasonally-adjusted unemployment rate also decreased in October 2021, dropping by one-tenth of a percentage point to 2.8 percent from the September 2021 not-seasonally-adjusted rate of 2.9 percent. The corresponding not-seasonally-adjusted national rate for October 2021 was 4.3 percent.
A year ago, the state’s seasonally adjusted rate was 5.0 percent, and the not-adjusted rate was 4.0 percent.
Missouri’s smoothed seasonally adjusted unemployment rate had reached a low of 3.1 percent starting in August 2018, before gradually edging up to 3.5 percent by the end of 2019, and then to 3.7 percent in March 2020. The COVID-19 effect hit in April 2020, spiking the rate to 12.5 percent for that month. The rate decreased monthly for the rest of 2020, reaching 4.4 percent in December, and continued gradually downward through the first four months of 2021. The increase of two-tenths of a percentage point from April 2021 to June 2021 appeared to be related to a temporary shortage in the supply of semiconductor chips, which caused production slowdowns in some manufacturing industries.
Due to benchmark revisions, Missouri’s unemployment rate rose a tenth of a percentage point higher than the national rate in January and February of 2020, but has been below the national rate for every month since February 2020.
Read the full report at https://meric.mo.gov/missouri-monthly-jobs-report
