Missouri now has its lowest unemployment rate on record.
The figure dipped a tenth of a point in November down to 3.0 percent, marking the lowest jobless rate in the state’s historical data series dating back to 1976.
According to the state Department of Economic Development, Missouri unemployment has now been lower than the corresponding U.S. rate for 43 consecutive months. National joblessness is currently 3.7 percent.
There were more than 2.9 million people employed in nonfarm jobs in Missouri in November, an increase of 32,400 over the same month in 2017.
The employment sectors that have seen the largest growth over the last year include Accommodation and Food Services, which has increased by more than 10,000. The workforce in Health Care and Social Assistance is up by 9,300 while there are an additional 5,900 Manufacturing employees. The fourth largest growing sector is Professional, Scientific and Technical Services which has increased by 5,300.
Missouri’s unemployment rate was 3.6 percent a year ago, while the national figure was 4.1 percent. The state’s high mark for joblessness over the past 12 months was 3.7 percent while the rate has dropped a tenth of a point in each of the last six months.
The current U.S. unemployment rate standing at 3.7 percent is the lowest in nearly 50 years.
The state’s non-seasonally adjusted jobless rate was 2.5 percent in November, compared to the national rate of 3.5.