YOUR BUSINESS AUTHORITY
Springfield, MO
As Missouri's unemployment rate ticked down in February, state officials are looking toward a future with job growth potential.
The state's February jobless rate was 4.2%, a decrease from 4.3% in January, according to a news release.
The state's nonfarm payroll employment dropped by 11,600 jobs over the month, with the Missouri Economic Research and Information Center citing "deteriorating weather conditions."
Compared with February 2020, last month's payroll ranks were down by 130,500 job, according to the release.
"The labor market still showed substantial losses over the year, but may show improvement in the coming months as vaccines for COVID-19 become available," MERIC officials said in the release.
During February, nonfarm payroll employment was impacted most by goods-producing industries, which lost 6,900 jobs from January. Manufacturing was down by 4,100, with 2,800 job losses in mining, logging and construction. The losses were partially offset by gains in such industries as leisure and hospitality, which was up by 3,100 jobs, and federal and state government, up 2,600.
The most recent unemployment rate for the Springfield metropolitan statistical area came in at 4.9% in December, according to data from the U.S. Bureau of Labor Statistics.
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