MO jobless rate lower in March

The rate continued its yearlong decline and now ranks fourth nationwide in annual change.

Payroll employment in March increased by 1,900 seasonally adjusted jobs, or 25,400 nonseasonally adjusted jobs.

Trade, transportation and utilities experienced the largest increase with 3,600 new jobs, while leisure and hospitality also showed growth with a gain of 1,000 jobs during the month.

March’s employment gains were offset slightly by seasonally adjusted losses in manufacturing, which was down 1,500 jobs, and construction, which lost 2,400 jobs after a winter of more-than-average additions.

For the last 12 months, payroll employment grew by 33,400 jobs, or 1.2 percent.

Trade, transportation and utilities added 11,700 jobs, a 2.2 percent increase. Retail represented the largest portion of the growth, but employment also was up in wholesale trade and transportation and warehousing.

Financial activities added 4,300 jobs over the year, and professional and business service employment gained 4,000 jobs. Private educational and health services industries also grew, adding 7,600 jobs during the year.

Employment dropped over the last year in other areas, including the information sector, which lost 1,700 jobs in print media and telecommunications.

The goods-producing industry dropped by 2,000 jobs.

Missouri has added 47,700 jobs since January 2005.

This story originally appeared in SBJ’s May 9 free e-news Daily Update. Click here to register.