The Department of Economic Development has released the state job report for February and employment continues to rise. They say for the 42nd consecutive month, Missouri continues to remain below the national unemployment rate.
The state’s payrolls increased by nearly 4,000 jobs and employment growth has been led by the construction industry which is up 4,500 jobs. Spokesman Joh Fougere says while the state and the nation as a whole has worked its way out of the national recession from 2008 to 2009, Missouri’s decreasing unemployment rate has been better off than the rest of the nation.
“There are some very good signs out there that we continue to see the momentum we’re seeing. Our manufacturing is coming back strongly in the state led by the auto industry,” he said. “Ford and General Motors are in the midst of major expansions at their respective plants in Claycomo and Wentzville.”
Missouri’s unemployment rate has fallen nearly three full points since its peak in August 2009. “We worked our way out of the national recession and that’s positive, and we’ll continue to watch those trends closely to see if they continue,” Fougere said.
He says Missouri’s unemployment rate has now been lower than the national unemployment rate for 42 consecutive months. Fougere says to put that number in proper perspective, during the four year period between 2005 and 2009, Missouri’s unemployment rate was lower than the national unemployment rate for 4 months out of those 4 years.
The national unemployment rate for February was 7.7 percent. Missouri’s unemployment rate for the month stood at 6.7 percent.
AUDIO: Mary Farucci reports. (1:02)