May jobs report highlights:
• Missouri non-farm payroll employment increased by 2,500 jobs in May.
• Missouri's seasonally adjusted unemployment rate remained at 3.3 percent.
To view the May 2019 jobs report, click here.
Economic indicators you need to know:
Job growth and record low unemployment fuel Missouri's workforce
- • The number of jobs in the state continues to rise.
- o Missouri’s economy added 2,500 jobs this month.
- o Over the past year, employment has grown by 31,000 jobs.
- • Unemployment remained steady at near record lows.
- o Missouri’s seasonally adjusted unemployment rate was 3.3 percent.
- o Out of the roughly 3 million individuals in Missouri’s civilian labor force, only an estimated 101,321 were unemployed
- in May.
- • Missouri continues to see over-the-year job gains across key industries.
- o Accommodation and Food Services (+10,400 jobs, up 4 percent)
- o Manufacturing (+7,600 jobs, up 2.8 percent)
- o Health Care and Social Assistance (+10,800 jobs, up 2.6 percent)
- o Professional, Scientific and Technical Services (+4,200 jobs, up 2.6 percent)
Missouri sees growth in annual average wages
- • Missouri has seen wage growth every year for the past four years.
Missouri's annual average wage growth over time. Source: U.S. Bureau of Labor Statistics.
- • Missouri’s statewide annual average wage reached an all-time high of $49,050 in 2018, a 3.6 percent increase over 2017
- and a 10.6 percent increase over 2014.
- • Several Missouri counties saw particularly high average wage increases in 2018:
- o Newton County, home to Neosho and metro Joplin (+13.7 percent)
- o St. Louis County (+5.2 percent) and St. Louis City (+4.2 percent)
- o Webster County, home to Marshfield and metro Springfield (+4.4 percent)
- • 74 percent of Missouri’s 114 counties had an annual average wage increase of more than 2 percent in 2018. Only three
- counties have seen wage decreases since 2014.
- • St. Louis City and County each had an annual average wage of over $60,500 in 2018. Jackson County, home to Kansas
- City and Independence, reached an annual average wage of $56,500.
The figures above are drawn from the Quarterly Census of Employment and Wages (QCEW), a cooperative program between the U.S. Bureau of Labor Statistics and the Missouri Department of Economic Development. A full breakdown of QCEW data can be found here.
Recent Business Announcements in Missouri:
- • Evolution St. Louis launches high-tech manufacturing facility in Grand Center Arts District
- • Pfizer opens new state-of-the-art research and development facility in Chesterfield, Missouri
- • Cosmos Corporation to break ground on new headquarters
More Economic Development News:
- • Kansas City Business Journal: Kansas City harvests big win with transplanting of 500-plus USDA jobs
- • Kansas City Business Journal: Inside the data: How Missouri's historic unemployment rate compares with
- other record-breaking states