Missouri trade jobs increase in November

Since January, a total of 28,100 jobs have been created, and seasonally adjusted payroll employment continues to grow, the Missouri Department of Economic Development reported Dec. 14.

The state’s seasonally adjusted unemployment rate in November was 5.6 percent, up from 5 percent in October but down from 5.8 percent in November 2004. Unemployment has been increasing since an unusually low rate in August and is now returning to its July level.

The most significant jobs increase in November was in trade, transportation and utilities, which added 2,700 jobs as retailers prepared for the holiday season.

“The continued job creation in Missouri is further evidence that our economy remains strong, robust and growing,” said Gov. Matt Blunt in a news release.

Seasonally adjusted leisure and hospitality employment increased by 1,000 jobs, as the normal seasonal cutbacks in the industries occurred in October, slightly earlier than usual, because of high gasoline prices. Despite the November increase, leisure and hospitality jobs over the last year were down 0.4 percent, a loss of 1,200 jobs.

Private education and health services employment in November was up by 500 jobs, and other services added 600 jobs.

In the government sector, public schools reached their seasonal peak, while total government employment lost 1,200 jobs on a seasonally adjusted basis.

In the last year, nonfarm payrolls added 20,800 jobs, an increase of 0.8 percent, and goods-producing and service-producing sectors grew at the same rate. Durable goods manufacturing continued to be strong, increasing by 3,600 jobs, or 1.8 percent, including 1,200 jobs in transportation equipment industries.

Job growth in the private service-providing sectors was strong in the last year. Education and health services added 8,900 jobs, a growth rate of 2.4 percent, and financial activities added 3,400 jobs, a growth rate of 2.1 percent.

Also within the private sector, trade, transportation and utilities employment was up by 5,200 jobs for the year, or 1 percent. Within that group, wholesale trade added 1,700 jobs for a 1.4 percent increase, and general merchandise stores grew by 1,200 jobs, or 1.6 percent.

State government employment dropped 4,100 jobs, 3.7 percent, over the year, while local government employment decreased by 1,600 jobs.

This story originally appeared in SBJ’s Dec. 14 e-news Daily Update. Click here to register.[[In-content Ad]]