Missouri's unemployment rate hits historic low

Missouri's unemployment rate is down for the fourth month in a row.

During June, the state's jobless rate dropped to 2.8%, according to a news release from the Missouri Economic Research and Information Center. The figure has continued to fall on a month-over-month basis since the most recent high this year of 3.7% in February.

MERIC additionally reports the preliminary June unemployment rate is the lowest seasonally adjusted figure that's been recorded in the state since the data series began in 1976. The previous low of 2.9% was set during three months in 2019.

During June, the state's nonfarm payroll ranks increased by 5,300 jobs compared with May, according to the release.

Among industries with increases were leisure and hospitality, up 2,400 jobs; educational and health services, up 1,200; and financial activities, up 900.