Missouri unemployment rate falls in August

JEFFERSON CITY, Mo. -- Missouri's seasonally adjusted unemployment rate fell by more than half a percentage point in August, the Department of Economic Development said Friday.

Missouri's seasonally adjusted unemployment rate was 4.7 percent in August, down from 5.3 percent in July.

Joe Driskill, director of the Economic Development Department, said there has been a wide variation in state employment rates in recent months.

"We are pleased to see the unemployment decrease to about the same level as a year ago," Driskill said. "But we are not seeing significant gains in employment, which would indicate a recovery of economic conditions in Missouri."

Driskill said it may take a few more months to accurately gauge how Missouri's economy is performing. Missouri's seasonally adjusted unemployment rate a year ago was 4.8 percent.

In August, Boone County had the lowest unemployment rate in the state at 2.1 percent while Linn County had the highest at 11 percent.

While non-farm employment increased by 4,500 jobs in August on a seasonally adjusted basis, there were 1,700 fewer jobs on an unadjusted basis.

The biggest employment change in August came in the manufacturing sector, which saw an increase of 5,000 jobs. Most of those gains were due to automobile plants resuming full production after model changeover layoffs.

In the past year, non-farm payrolls have lost 47,100 jobs. Manufacturing employment is down by 10,700 jobs and the wholesale trade industry is down by 7,900 jobs. State government also has lost 5,600 jobs as a result of a tight budget, the department said.

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On the Net

Economic Development Department: http://www.missouridevelopment.org