Missouri seasonally adjusted payroll employment continued to grow with the addition of 3,500 new jobs in November for a total of 28,100 new jobs created since January. The state’s November unemployment rate was two-tenths of a point below the November 2004 mark at 5.6 percent.
The biggest increase in November was 2,700 jobs in trade, transportation and utilities, as retailers geared up for the holiday season. Private education and health services employment was up by 500 jobs. In the government sector, public schools reached their seasonal peak, while there was little change in federal and state government employment. Because of the lack of seasonal increases this November, total government employment decreased by 1,200, on a seasonally adjusted basis. Other industry groups showed little change over the month.
Despite strong employment growth in November, unemployment has been increasing since the unusually large drop in August and has now returned to its July level. The state’s November rate once again surpassed the national rate, which was 5 percent. Not seasonally adjusted, the unemployment rate was 5.3 percent, eight tenths of a point higher than it was last month.
The Department of Economic Development will maintain a close watch on the state’s unemployment rate to determine whether the November increase and the smaller increases in September and October represent statistical corrections to an uncharacteristic drop in August or an actual trend in the labor market.