Unemployment is currently one of the most significant issues throughout America, with people struggling to find gainful employment in the wake of the COVID-19 pandemic.
Unfortunately, this unemployment spike did not spare Missouri, and this has been a continual struggle for those living within the state’s borders. However, recently this unemployment rate has decreased, and the job market has started to recover and offer new opportunities for Missouri residents.
With unemployment rates declining, the economy of Missouri can begin to recover, but the question of what this means remains to be answered.
The Decrease in Unemployment
The drop in unemployment in Missouri is a remarkable dip. Back in April 2020, the unemployment rate in Missouri was 14.8 percent. This rate translates to over 23,000 Missouri citizens who were out of a job that year. At this point, the COVID-19 pandemic had only just gotten into full swing, so unemployment was spiking to whole new levels. By October 2020, the unemployment rate had dropped back down considerably to 6.7 percent, or a little over 11,000 unemployed citizens in the state.
A year later, the unemployment rate in Missouri continues to decline. Unemployment currently sits at 4.6 percent, which is over 7,000 unemployed citizens in Missouri’s borders. This new rate is a considerable drop compared to when 2020 started, a 10.2 percent (or 16,000 citizens) drop since the April spike.
While this is an encouraging trend along with the recent evolution of hiring norms due to the remote work protocols, it remains to be seen how long this will keep up or if the unemployment rates will continue to dip further. It also does not indicate what types of opportunities are presenting themselves for Missouri citizens.
The number of available jobs in Missouri is constantly in flux and changes as more people find the employment they are after. However, each industry has gone through different changes since 2020. In fact, from August 2020 to August 2021, the number of jobs in Missouri has increased by 72,500. As a result, numerous fields have seen a shift in the number of available positions they have to offer.
In August, positions in professional and business services, trade, transportation, and utilities saw an additional 4,500 available openings. Jobs in leisure and hospitality saw an additional 3,100 positions. Education and health services gained 1,500 positions. However, producers of goods lost 3,500 positions, while government positions dipped by 1,100.
September 2021 saw even further developments, with each industry going through more changes. Leisure and hospitality are seeing the most significant growth of a staggering 29,300 jobs becoming available.
What This Means for Missouri Businesses and Applicants
The Missouri job market has evolved and shifted as it has begun to recover from the COVID-19 pandemic. As a result, unemployment has dropped considerably, and the number of jobs has increased in turn.
This shift has poised the state to undergo an economic resurgence that could give its citizens a whole new world of opportunity. However, just because the jobs are starting to open does not mean they, or the people who can do them, are necessarily easy to find.
If you are having trouble finding work in Missouri despite this economic resurgence or finding the talent you need to fill the new positions, look no further than Job Finders.
We have made it our mission to help put talented professionals where they belong. With the multitude of jobs opening up and the decreased unemployment rate, this is the easiest it has been in a year to accomplish that mission.
So, if you need help finding your dream job or have any questions about our services, contact us today. We’d be more than happy to assist you in your employment search.