Jobs continue to grow with unemployment at near-record lows in June
Missouri's seasonally adjusted unemployment rate has remained at 3.3 percent for the past four months. Seasonal adjustment is a statistical technique used to measure and remove influences of predictable seasonal patterns to show how employment and unemployment change monthly.
To view the June 2019 jobs report, click here.
Job growth and low unemployment rates fuel Missouri's workforce
• The number of jobs in the state continue to rise, while the unemployment rate remains low.
o Over the past year, employment has grown by 28,900 jobs.
• Missouri sees over-the-year job gains across key industries.
o Health Care and Social Assistance (+10,300 jobs, up 2.4 percent)
o Accommodation and Food Services (+5,700 jobs, up 2.2 percent)
o Professional, Scientific and Technical Services (+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 that 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.
This chart shows a comparison of Missouri to the mid-America average and the national manufacturing PMI® over time. Other states in the survey were Arkansas, Iowa, Kansas, Minnesota, Nebraska, North Dakota, Oklahoma and South Dakota. Sources: Creighton University Mid-America Business Conditions Index and the Institute for Supply Management.
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.
Recent business announcements in Missouri
• Governor Parson announces Bayer expansion in Creve Coeur, bringing 500 new jobs to Missouri
• LifeLine Foods to invest in St. Joseph headquarters, expand flour production
• TMS International announces new facility in Sedalia, adding 15 new jobs
• TTG Inc. expanding in Higginsville, adding 20 new jobs