Missouri labor conditions improve in September

The Missouri Department of Economic Development announced Oct. 24 that the state's labor market conditions continued to improve in September.

Both the state's seasonally adjusted and not-seasonally-adjusted unemployment rates rate edged down, while employment increased again.

"Once again the unemployment rate is an encouraging economic indicator for Missouri because it is moving downward and continues to be well below the national rate. In addition, we are pleased to see an increase in employment during the month of September," said DED Director Joseph L. Driskill, in a news release.

Missouri's seasonally adjusted unemployment rate decreased by two-tenths of a point to 5.4 percent; the rate has been receding since the peak of 5.7 percent reached in June. There were fewer Missourians unemployed this September (162,200) than there were a year ago (164,800).

The nation's labor market conditions remained relatively unchanged in September. The seasonally adjusted unemployment rate remained unchanged at 6.1 percent, and total nonfarm payroll increased slightly by 57,000 jobs in September.

On a not-seasonally-adjusted basis, Missouri's unemployment rate decreased by nearly a half of a percent in September to 5.3 percent, down from 5.8 percent in August. The September rate is a half point below the national rate.

Payroll employment in Missouri increased by 18,300 jobs on a seasonally adjusted basis in September. Resumption of employment at public schools and colleges, with the opening of the fall semester, helped push employment upward.

This is the fifth month in 2003 that employment has increased over the previous month's employment. Current employment of 2,661,800 is 18,500 jobs higher than in January, on a seasonally adjusted basis. Total employment of individuals in Missouri is about the same as it was in September 2002.

In other sectors, employment change was mixed. Trade, transportation and utilities employment was up by 1,500 jobs over the month, while financial activities added 1,400 jobs on balance. Private educational and health servicesjobs were up by 900.

Construction, professional and business services, "other" services, and leisure and hospitality reported lower employment than in August. Manufacturing employment was little changed over the month.

Although Missouri has recently experienced growth in employment, nonfarm payroll employment remains lower than it was a year ago, by 39,400 jobs. There are a number of industries that have experienced over-the-year employment growth, including construction, up 2,300 jobs; food manufacturing, up 1,200 jobs; wholesale trade, up 5,000 jobs; and health care and social assistance, up 4,500 jobs.

These gains, however, have been more than offset by losses in manufacturing, air transportation, retail trade, administrative and support services; religious, grant-making, civic and professional organizations; and government.