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August jobs report reveals thousands of new jobs in Missouri

  

Seasonally-adjusted employment rates in Missouri rose by more than 7,200 employees between July and August, according to the latest jobs report. 

Employment rates in leisure and hospitality increased for the month with 3,300 new jobs added over the course of the month. The sector’s workforce increased drastically over the past year, with more than 33,000 jobs added since August 2020. 

Professional and business trade jobs increased by 1,600 jobs for the month and surged by 17,700 jobs over the course of the year. The goods-producing industry saw 5,300 new jobs for the month. 

The COVID-19 pandemic had an impact on several sectors last August, but the latest data indicates a healthy rebound. Total payroll employment rose by more than 73,000 jobs compared to August 2020, with more than 12,000 new educational and health services jobs added over the course of the year and more than 8,500 trades, transportation, and utility jobs. 

Only government and financial activities jobs decreased compared to August 2020, shrinking by 6,200 and 5,600 jobs, respectively. 

The state’s unemployment rate settled at 4 percent for the month, dropping by .2 percent. Missouri reported a 6 percent unemployment rate last August. The state remained well below the national average, which dropped to 5.2 percent last month. 

The state reached a record low unemployment rate in 2018 at 3.1 percent and remained low until the pandemic struck in March 2020, with a near 8 point spike reported the following month. Rates decreased over the course of the year and have remained healthy in 2021 thus far. 

Despite the improvements, current events may impact future employment rates. Not only is the state seeing a resurgence in COVID-19 case rates and reinstated health ordinances, the manufacturing industry is also reeling from a global microchip shortage causing production delays for everything from gaming consoles to cars and 5G equipment.