Missouri unemployment rate holds steady for December

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The labor market conditions in Missouri were relatively unchanged in December 2002, according to the Missouri Department of Economic Development. During that month, the unemployment rate remained at 4.8 percent, the same rate it was at during November, and during December 2001. However, nonfarm payroll employment continued to decline in December 2002, with 6,500 nonfarm employment jobs lost during that month, on a seasonally adjusted basis. |ret||ret||tab|

In the Springfield Metropolitan Statistical Area, which comprises Christian, Greene and Webster counties, the unemployment rate for December was 3.6 percent, which is the same rate reported for the MSA in December 2001. In Greene County, the unemployment rate for December was 3.3 percent, compared to 3.6 percent in December 2001. |ret||ret||tab|

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Missouri numbers|ret||ret||tab|

With the statewide rate of 4.8 percent, Missouri's unemployment for December was nearly a percentage point below the national rate of 5.7 percent for the month.|ret||ret||tab|

On a seasonally adjusted basis, Missouri's unemployment decreased two-tenths of a point to 4.9 percent in December, also the same as it was for December 2001. |ret||ret||tab|

Much of the employment decrease can be attributed to retail trade, an industry in which employment has dropped by 5,300 jobs. |ret||ret||tab|

The construction industry in Missouri also continued to lose jobs, with employment falling by 1,300 in December to 131,200. Business services bucked the trend, adding 1,500 jobs on a seasonally adjusted basis. |ret||ret||tab|

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2002 at a glance|ret||ret||tab|

In the past year, nonfarm payrolls have lost 39,900 jobs. Construction accounted for nearly one-third of that drop, with the loss of 12,300 jobs. Manufacturing employment is down by 7,900, with electrical equipment accounting for 3,800 jobs. Wholesale trade employment has fallen by 6,300 in the past year, while retail trade employment has been flat. Transportation and utilities employment is down by 5,900. |ret||ret||tab|

In the government sector, state government has lost 3,700 jobs during the year, partly offset by a gain of 1,600 in local government. |ret||ret||tab|

Health services has been about the only consistent growth industry in the state, gaining 2,900 jobs. Other service industries reported little net change. |ret||ret||tab|

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