Missouri non-farm payroll employment increased from January 2022 to February 2022, and the seasonally adjusted unemployment rate decreased by one-tenth of a percentage point. Employment, seasonally adjusted, increased by 9,200 jobs over the month, with job gains in both goods-producing and service-providing industries. The state’s seasonally adjusted unemployment rate was 3.7 percent in February 2022, down from 3.8 percent in January 2022. Over the year, there was an increase of 104,300 jobs from February 2021 to February 2022, and the seasonally adjusted unemployment rate decreased by 1.2 percentage points, from 4.9 percent in February 2021 to 3.7 percent in February 2022.
UNEMPLOYMENT
Missouri’s smoothed seasonally adjusted unemployment rate decreased by one-tenth of a percentage point in February 2022, declining to 3.7 percent from the revised January 2022 rate of 3.8 percent. The February 2022 rate was 1.2 percentage points lower than the February 2021 rate. The estimated number of unemployed Missourians was 114,174 in February 2022, down by 3,870 from January’s 118,044.
The national unemployment rate decreased from 4.0 percent in January 2022 to 3.8 percent in February 2022. Missouri’s unemployment rate has been at or below the national rate for the last five years.
The state’s not-seasonally-adjusted unemployment rate decreased in February 2022, falling by 0.4 percentage points to 3.7 percent from the January 2022 not-seasonally-adjusted rate of 4.1 percent. The corresponding not-seasonally-adjusted national rate for February 2022 was 4.1 percent.
EMPLOYMENT
Missouri’s seasonally adjusted nonfarm payroll employment was 2,904,500 in February 2022, up by 9,200 from the revised January 2022 figure. The January 2022 total was revised upward by 500 from the preliminary estimate, producing a revised increase of 9,600 jobs from December 2021 to January 2022.
Goods-producing industries gained 2,200 jobs over the month, with mining, logging, and construction gaining 1,400 jobs and manufacturing gaining 800 jobs. Private service-providing industries gained 8,300 jobs between January 2022 and February 2022, with increases in trade, transportation and utilities (+3,600 jobs); professional & business services (+1,900 jobs); leisure & hospitality (+1,600 jobs); financial activities (+1,000 jobs); other services (+500 jobs); and education & health services (+200 jobs). Government employment decreased by 1,300 jobs over the month.
Over the year, total payroll employment increased by 104,300 jobs from February 2021 to February 2022. Most of the major private-sector industry groups shared in the increase, with the largest gain in leisure & hospitality (+33,800 jobs), followed by professional & business services (+22,100 jobs); trade, transportation, & utilities (+20,500 jobs); mining, logging & construction (+16,400 jobs); other services (+6,600 jobs); manufacturing (+3,600 jobs); and information (+100 jobs). Employment in financial activities declined by -2,500 jobs. Government employment increased over the year, with a gain of 3,900 jobs. The largest governmental employment increase was in state government (+2,400 jobs), followed by local government (+2,300 jobs).
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