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Unemployment rate remains steady in Missouri

JEFFERSON CITY, Mo. — Missouri’s unemployment rate has remained at 3.3 percent for the past four months. This marks the 35th consecutive month in which Missouri’s unemployment rate has been lower than the corresponding U.S. rate, which was 3.7 percent in June.

Missouri nonfarm payroll employment decreased slightly over the month. The seasonally adjusted jobs estimate was 2,914,800, — down by 400 from the revised May figure.

Yet, the total number of jobs has increased in the last year. The Show-Me State added 28,900 since June 2018 — a 1 percent increase. 

Several industries saw increases in the last month. Construction jobs increased 1,200 from May, as did transportation, warehousing, and utilities. Arts, entertainment, and recreation saw a 1,400 bump and educational services increased by 1,000. Smaller gains were reported in various other industries.

These gains were offset by decreases in accommodation and food services (-3,700); wholesale trade (-800); and information (-600). 

Over the past year, some industries have seen gains. Health care and social assistance added 10,300 jobs (up 2.4 percent), accommodation and food services added 5,700 jobs (up 2.2 percent), and professional, scientific, and technical services added 5,000 jobs (up 3.1 percent).

Missouri’s strong performance continues in mid-America purchasing index

  • The Creighton University Mid-America Business Conditions Index shows Missouri’s economic expansion is likely to continue.
  • Missouri’s June index of 59.9 was above the mid-America average of 55.4. An index greater than 50 indicates an expanding economy.
  • Nationally, the Institute for Supply Management’s (ISM) surveys registered a 51.7 for the manufacturing PMI and 55.1 for the non-manufacturing index. Creighton’s Mid-America index follows the same methodology as ISM.

A more in-depth analysis can be found on MERIC’s website here.

Missouri leads U.S. in foreign direct investment

The U.S. Bureau of Economic Analysis released its 2018 report on foreign direct investment in the U.S., and Missouri topped the list, ranking first in the country and receiving the largest international investment.