Decline in Jobless Rate Highlights Challenge Facing MO Small Businesses

Date: November 01, 2021

Figures just released by the Bureau of Labor Statistics show Missouri’s unemployment rate dropped 0.2 percentage points in September to 3.8%. That was 1 percentage point lower than the national rate and well below the pandemic peak of 12.5% in April 2020.

NFIB State Director Brad Jones said Missouri’s low unemployment rate was welcome news but underscores one of the biggest challenges facing the state’s small businesses — finding qualified workers.

“Missouri has obviously done a better job than most states in weathering the pandemic, and, as a result, people are getting back to work,” Jones said. “However, the low unemployment rate is still making it difficult for small businesses to find qualified workers.”

According to the latest NFIB Small Business Economic Trends survey, a record 12% of owners cited labor costs as their top business problem while a record 28% said that labor quality was their top business problem. 

 

Related Content: Small Business News | Missouri

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