Missouri’s unemployment rate ticks down

Missouri’s unemployment rate in August dropped to its lowest level in 18 years, state officials announced this morning.

The state’s jobless rate moved down a tenth of a point to 3.3 percent from 3.4 percent in July and 3.5 percent in June. Missouri’s unemployment rate hasn’t been lower than 3.3 perent since February 2000, according to a news release.

During August, Missouri nonfarm payroll ranks rose by 1,000 jobs compared with July. Private-sector jobs, which increased by 2,700, led the way, according to the release.

Industry increases in professional and business services, up by 4,000 jobs, financial activities, up 1,100, and leisure and hospitality, also up 1,100, were partially offset by drops in trade, transportation and utilities, down 1,800, local government, down 1,600, and manufacturing, down 1,500.

With its latest unemployment rate, Missouri’s figure has been below the U.S. jobless rate — currently 3.9 percent — for 40 consecutive months, according to the release.