Missouri unemployment rate drops to 18-year low

Missouri’s June unemployment rate was the best it’s been since mid-2000, according to figures released this morning by the state Department of Economic Development.

Last month’s seasonally adjusted jobless rate was 3.5 percent, the lowest level since July 2000, according to a news release.

The 3.5 percent jobless rate last month beat the 3.6 percent figure recorded in May. Prior to the improvement in June, the state’s unemployment rate was flat at 3.6 percent for three months, according to past Springfield Business Journal reporting.

Comparatively, the U.S. seasonally adjusted unemployment rate was 4 percent in June. That means Missouri has beat the U.S. average for 38 consecutive months, according to the release.

During June, Missouri job gains were led by health care and social assistance, at 3,800, and leisure and hospitality, 2,600. Offsetting industries included professional, scientific and technical services, which lost 1,300 jobs, and retail trade, which dropped by 1,200.