Unemployment rate continues downward trend in September
Missouri’s seasonally adjusted unemployment rate was 3.1 percent in September 2019, down a tenth of a percentage point from August. Seasonal adjustment is a statistical technique used to measure and remove influences of predictable seasonal patterns to show how employment and unemployment change monthly.
Missouri has over-the-year job gains across key industries – with employment growing by 32,100 jobs, or 1.1 percent over the last year.
To view the September 2019 jobs report, click here.
Survey shows insight into challenges and opportunities Missouri employers are facing
The Missouri Economic Research and Information Center's (MERIC) 2019 Missouri Economic and Workforce Report included a survey of more than 1,600 Missouri employers. The report provided data on key economic indicators and insight into challenges and opportunities employers are facing with the workforce.
Highlights include Missouri’s unemployment rate being consistently at or below the nationwide rate, Missouri’s Gross Domestic Product rate increasing 2.3 percent from 2017 to 2018, and Missouri’s Labor Force Participation rate being consistently higher than national levels – rising nearly 1 percentage point between 2017 and 2018.
Continued low unemployment, combined with overall economic growth, has resulted in a tighter labor market for employers. Survey results showed 47 percent of respondents indicating a shortage of skilled workers. The increased demand could benefit Missouri’s workforce by encouraging heightened wages and more training opportunities. Survey data indicated that 87 percent of employers are addressing the skilled worker shortage by hiring less experienced workers and providing training.
Data suggested employers are planning for more hiring – with one-third of respondents reporting an intention of adding more jobs.
The full report is available on MERIC’s website.
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