Overall unemployment rate moved up to 3.0% with the biggest shift in Transportation & Utilities, which lost 9,100 roles, based on the most recently available information published in March 2023.
Total employment in the St. Louis, MO-IL market declined by 15,219 jobs in January and the unemployment rate increased compared to the prior month by 50 bps to 3.0%. The national unemployment rate increased by 60 bps over the same time to 3.9%.
- St. Louis, MO-IL unemployment rate is 86 bps below the national rate which is a positive sign.
- Unemployment in the market is 130 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in January versus prior month by 3.6% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.7%. Key sectors include:
- Education & Healthcare: 265,900; +1,700
- Transportation & Utilities: 263,400; -9,100
- Business Services: 215,400; -5,300
- Government: 150,900; -3,800
- Restaurants & Hotels: 138,700; -3,000
- Manufacturing: 118,500; +200
- Financial Services: 97,600; -300
- Construction, Mining: 66,800; -4,300
- Other Jobs: 54,000; -200
- IT & Development: 28,200; -100
Data is based on the most recent 12 months available, through January 2023 (Data published March 2023 and reports created on March 17, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.