Missouri unemployment drops to 5.9 percent in October

Heidi Li/Missouri Business Alert

Missouri’s unemployment rate fell to 5.9 percent in October, and the U.S. rate fell to 5.8 percent, according to data from the Missouri Department of Economic Development. The Missouri rate, which has been trending downward since peaking in 2009, is a sign of the state’s continued recovery from the recession.

Despite small increases in unemployment in June and July, “the unemployment rate from a longer term is definitely falling,” said Professor David Mitchell, director of the Bureau of Economic Research at Missouri State University.

The state added 48,400 jobs in non-farm industries over the past year, according to the DED.

In Missouri, most industries have improved employment, while the manufacturing industry has seen declines in employment for the past 40 years, said Professor Reed Olsen, researcher at the Bureau of Economic Research.

The employment rate in the state’s manufacturing sector decreased as part of the national trend, and it wouldn’t return to where it was before the recession, Mitchell said.

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