Missouri’s unemployment rate drops to 18-year low

Missouri’s September unemployment rate was 3.2 percent, its lowest level in more than 18 years, the Department of Economic Development announced this week.

Last month’s jobless rate was down from 3.3 percent in August, 3.4 percent in July and 3.5 percent in June. The 3.2 percent rate is the lowest figure since January 2000, when the unemployment rate was 3.1 percent. The data is not seasonally adjusted, according to a news release.

The unemployment rate decrease came as Missouri’s nonfarm payroll employment rose by 3,300 jobs in September. Job growth was led by durable good manufacturing, at 2,200 positions; construction, 1,300; accommodation and food services, 1,200; and transportation, warehousing and utilities, 1,200.

Half a percentage point lower in September, Missouri’s unemployment rate has been below the national jobless rate for 41 consecutive months. The U.S. unemployment rate in September was 3.6 percent, according to the release.

Missouri’s September unemployment rate was 0.4 percentage points lower than in the same month of 2017.