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State unemployment rate continues to drop

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Missouri’s seasonally adjusted unemployment rate dropped another tenth of a point in November as it reached levels not seen since 2000.

The state’s jobless rate last month improved to 3.4 percent from 3.5 percent in October. According to a Missouri Department of Economic Development news release, Missouri’s unemployment rate has not been lower than 3.4 percent since May 2000.

During November, nonfarm payroll employment statewide rose by a net 2,500 jobs.

Increases were led by:
    •    professional and business services, at 4,700 jobs;
    •    mining, logging and construction, 1,000;
    •    leisure and hospitality, 600; and
    •    information, 200.

Offsetting industries included financial activities, which dipped by 1,100 jobs, and government, at a loss of 1,000, according to the release.

During the past year, Missouri employers added 30,200 jobs, representing growth of 1.1 percent, according to the DED.

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