Missouri Unemployment Holding Steady Above National Rates

Sep 26, 14 Missouri Unemployment Holding Steady Above National Rates

The latest unemployment numbers show that the national unemployment rate is still slightly lower than Missouri’s. According to a report released by the state Department of Economic Development, Missouri’s July unemployment rate remained at 6.5 percent despite the fact that the state added 13,200 jobs.

Official unemployment statistics released in August 2014 by the federal Bureau of Labor Statistics show that the national unemployment rate was only 6.2 percent in July. This is slightly up from 6.1 percent in June, but lower than the rest of the year. 2014 unemployment peaked at 6.7 percent in February and March. The numbers of long-term unemployed workers (those jobless for 27 weeks or more) also remained virtually unchanged in July at 3.2 million. These individuals account for 32.9 percent of those currently unemployed.

Both the state and national figures are seasonally adjusted.

Missouri’s nonfarm employment went up to 2.78 million in July. Industries that saw significant gains include durable-goods manufacturing (3,300 jobs); construction (2,300 jobs); and transportation, warehousing and utilities (2,300 jobs). Moderate gains were also seen in educational services (2,200 jobs) and finance/insurance (1,100 jobs). 53,600 nonfarm jobs have been added to Missouri’s economy in the past year.

The leisure and hospitality sector, on the other hand, declined.

Missouri’s seasonally adjusted labor force, which includes both those working and those looking for work while on unemployment, shrank by just fewer than 1,500 jobs.

This comes as last week new laws came into effect making it more difficult to collect unemployment benefits after being fired under certain circumstances.

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