St. Louis metro unemployment jumped to 9 percent in May
Written on July 3, 2009
The Bureau of Labor Statistics reported Tuesday that the jobless rate in metropolitan St. Louis jumped from 8 percent in April to 9 percent in May.
The rate is not adjusted for seasonal employment, such as construction jobs.
According to the BLS, more than 128,000 St. Louis area residents were looking for jobs in May. The numbers do not include unemployed individuals who have abandoned their job search.
The BLS said the region lost 45,200 jobs — led by declines in construction, manufacturing, trade and utilities — in the 12 months beginning in May 2008.
Nationally, the BLS said joblessness increased in all 372 metropolitan areas measured in its monthly survey. Of those, 15 vicinities — most in California and Michigan — recorded unemployment rates in excess of 15 percent. Another 21 metropolitan regions had unemployment below five percent.
The national unemployment rate in May was 9 no teletrack payday loans.1 percent, which is reported before metro data is released. The BLS will release the national June jobless figures on Thursday. However, the employment outlook isn’t expected to improve.
Companies are likely to remain reluctant to hire back workers even if the recession ends later this year, as many expect. That means the unemployment rates in most metro areas probably will rise in the months ahead — a potential obstacle to a hoped-for recovery.
"The themes that are dominating this worsening labor market are problems in housing and autos, which have forced companies to cut jobs," said economist Ken Mayland, president of ClearView Economics. "Unfortunately, there are still more layoffs to come."
The Associated Press contributed to this report.
Filed in: business.