04.02.2008 9:28 am
More bad news in local unemployment report
St. Louis Post-Dispatch
Metro St. Louis’ unemployment jumped to 6.2 percent in February from 5.6 percent a year earlier, the Bureau of Labor Statistics reported this morning. This is consistent with the January rate, which was revised slightly upward to 6.4 percent, but it’s still inconsistent with the BLS’ separate payroll survey, which shows modest job growth in St. Louis. Looks like we’re stuck with mixed signals s on the health of the local economy, but having unemployment substantially above the national average is certainly not good news.
The local jobless rates are not seasonally adjusted. On the same basis, the national unemployment rate was just 5.2 percent in January.
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David Nicklaus has covered St. Louis business for more than 25 years. His column appears three days a week on the Post-Dispatch business page. 