Missouri unemployment rate dips to 9.1 percent in March

Finally a small sign of relief for Missouri's economic recovery -- new data released last week from the U.S. Department of Labor showed a three-tenths of a point drop in Missouri's statewide unemployment rate as the state added 24,300 jobs in March.

Preliminary estimates show Missouri's seasonally adjusted unemployment rate dipped to 9.1 percent in March, down from 9.4 percent in February and a recession peak in late 2009 of 9.7 percent.

Missouri's unemployment rate remains relatively high compared to the national average of 8.8 percent, and among adjacent states the rate is only exceeded by Kentucky (10.2%) and Tennessee (9.5%). In contrast, one of the Show-Me-State's northerly neighbors, Nebraska, has an unemployment rate of just 4.2 percent, the second lowest in the country.

Even with recent job gains, Missouri's overall employment situation continues to sustain an overall deficit after losing 114,000 jobs during the official national recession and 151,000 between January 2008 and February 2010. As of March 2011, 138,000 jobs shed during the recession have not returned.

And as the monthly employment change chart shows, job growth still isn't steady in Missouri which suggests low employer confidence. With strong growth reported in March though, that seems to be finally turning around.

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