Missouri Unemployment RateThe jobless rate is the calculation of unemployed workers within the entire work force. Every state measures their unemployment rate on a monthly basis, as does the nation as a whole. The unemployment rate in Missouri and in other states provides economists and government officials with important data to help analyze the labor force. This information helps allocate funding where necessary, such as to certain business sectors or state unemployment insurance programs. While the unemployment rate does tend to fluctuate for a variety of reasons, measuring high versus low can provide details regarding the economy on a statistical level. For example, a high unemployment rate in Missouri could be an indicator of a recession or that the economy is under performing. A low jobless rate is indicative of a flourishing economy or at least one that is growing. More jobs equals more people with the ability to spend money, which equals a stronger economy.
What is the unemployment rate in Missouri?
For those wondering, “What is the unemployment rate in Missouri?” the answer is an uplifting one. The unemployment rate in Missouri is at 3.9 percent as of May 2017. This is 0.4 percent lower than the national average, which is great news for Missouri residents. The jobless rate decrease is a reflection of over 25,000 formerly unemployed workers in Missouri gaining employment opportunities in the past year. This decrease in the unemployment rate can also be due to a variety of factors from more job growth, more individuals finding employment and even workers leaving the work force due to retirement, school or staying at home with family.
However, despite the fact that the unemployment rate in Missouri is at a peak low, there are still plenty of individuals in Missouri who find themselves unable to secure employment. The state does provide options in terms of unemployment insurance benefits for qualified applicants. These unemployment benefits come in the form of temporary wage assistance. For those qualified individuals who meet the eligibility requirements, this financial benefit can be a huge help in between employment opportunities.