Jobs continue to grow with unemployment decreasing slightly in August
Missouri’s seasonally adjusted unemployment rate was 3.2 percent in August 2019, down a tenth of a percentage point from July. Seasonal adjustment is a statistical technique used to measure and remove influences of predictable seasonal patterns to show how employment and unemployment change monthly.
To view the August 2019 jobs report, click here.
Job growth and low unemployment rates fuel Missouri’s workforce and economy
- The number of jobs in the state continue to rise, while the unemployment rate remains low.
- Over the past year, employment has grown by 38,200 jobs.
- Missouri sees over-the-year job gains across key industries.
- Health Care and Social Assistance (+13,700 jobs, up 3.2 percent)
- Accommodation and Food Services (+6,600 jobs, up 2.4 percent)
- Professional, Scientific, and Technical Services (+5,700 jobs, up 3.5 percent)
Startups provide positive impact on Missouri’s economy
As reported by MOSourceLink, an average of 40,797 new jobs were created each year by small, first-time employers over the past five years, making up a significant portion of the new jobs added to the state’s economy. Small businesses and startup firms create jobs and pioneer innovations that help Missouri move forward and compete in a global economy.
While these new and young firms, which have fewer than 20 employees, are focused around population centers, they also exist throughout the state and across a variety of industries. The highest density of firms hiring their first employee in Missouri in 2018 were in Health Care and Social Assistance, Information, Transportation and Warehousing, and Professional, Scientific, and Technical Services.
The full MOSourceLink report contains additional data about wages, industries, and job numbers associated with startups in Missouri.
To view interactive data visualizations of entrepreneurial trends by state, visit Kauffman Indicators of Entrepreneurship: Missouri.