Missouri’s unemployment rate hits lowest point on record

Missouri’s unemployment rate in November dropped to the lowest point on record for the state’s historical data source officials began collecting in 1976.

The 3 percent unemployment rate was down from 3.1 percent in October and 3.2 percent in September. Not adjusting for seasonality, Missouri’s jobless rate last month was 2.5 percent, compared with a national rate of 3.5 percent. The state’s unemployment rate has been below the national level for 43 straight months, according to a news release.

While the unemployment rate figure was lower, Missouri’s nonfarm payroll employment ranks dropped by 1,200 jobs last month.

Decreases in construction, which lost 3,100 jobs, arts, entertainment and recreation, down 2,100, and health care and social assistance, down 1,400, offset gains that included 3,600 jobs in accommodation and food services, according to the release.

Year over year, Missouri employers added 32,400 jobs through November.