Job growth resumes in St. Louis in June

Thursday, August 3rd, 2017 - Resume

Metro St. Louis employers added 2,400 jobs in June, ending a three-month slump.

The gain, according to seasonally adjusted numbers from the Bureau of Labor Statistics, leaves the St. Louis area with 11,100 more jobs than it had a year ago. That’s an increase of 0.8 percent, compared with national job growth of 1.6 percent.

Metro St. Louis had posted strong job growth for most of 2016, but lost a total of 11,500 jobs in March, April and May.

The metro area’s unemployment rate, as seasonally adjusted by the St. Louis Federal Reserve Bank, fell to 3.9 percent in June from 4.2 percent in May. U.S. unemployment was 4.4 percent in June.

Service industries continue to drive job growth here. Professional and business services firms added 4,400 jobs between June 2016 and June 2017 while health care employers added 4,300, financial services companies added 3,600 and leisure and hospitality firms added 2,800.

On the negative side, construction and mining companies cut 2,600 jobs while state government agencies shed 1,000. Figures for specific industries are not seasonally adjusted.

The BLS’ unemployment report, which is based on a survey of households, counted 58,954 St. Louis area residents as unemployed in June. That number is down by 20 percent in the latest 12 months, but the area’s labor force — the pool of people who are working or actively job-hunting — is also shrinking.

The labor force is down by 29,784 people, or 1.9 percent, in the past year.

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