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Unemployment Down Slightly Here In March, While State, National Jobless Numbers Grew

Ste. Genevieve County saw unemployment fall in March compared to the prior month, however compared to March 2007 the percentage unemployed was higher.

According to the report released last week by the Missouri Department of Economic Development, unemployment was at 6.1 percent here in March. That figure was down by two-tenths from the February report. But in March 2007 county unemployment stood at just 4.8 percent .

The March 2008 rate in this county is the highest for the month in the last 18 years. Over the last two decades, the only years in which the March rate exceeded this year’s were 1994, when the rate hit 6.8%, and 1995, when it was at 6.2%. Unemployment for the month was lowest in 1999, when the rate was 3.1%.

The local March jobless rate was exactly equal to the statewide rate, which was up 1 percent from February. Both state and local rates were higher by almost a full percentage point than the U.S. rate, which stood at 5.2 percent in March (the same rate as that reported in February). The March national rate was up from the 4.8 percent reported for March 2007.

Locally, the jobless rate represents 610 people out of work. The 2007 rate represented 463 seeking employment.

At the same time, the county saw an increase in labor force participation, which stood at 9,921 this year, up from 9,704 in March 2007.

Both state and national jobless figures were worse this March when compared to the same month last year. The 2007 rate for the month statewide was 4.8 percent; the national rate was 4.5 percent.

Total U.S. labor force participation increased to over 153 million this year, compared to 152 million in March 2007. In Missouri, labor force participation declined, however, from 3.022 million last year to 3.014 million this year.

Nearby Perry County had a March 2008 unemployment rate of 4.9 percent, up from 4.8 percent in February and 3.7 percent in March 2007.

The labor force in Perry County grew from 9,992 in March 2007 to 10,437 in the same month this year.