MO unemployment on a decline
Wed, 16 Nov 2011 04:00:00 GMT — Missouri's unemployment rate is on a decline, last month it dipped to its lowest point in nearly two years. In October unemployment was 8.5 percent in Missouri compare that to the national average of 9 percent and things don't seem to bad.The highest rate in the nation is Nevada coming in at 13.4 percent.So why the good news in Missouri? Officials say it's because of Missouri's diverse economy. While other states were dealing with housing bubbles, Missouri was dealing with an ailing auto industry. We went from five plants with 20,000 workers to two plants with 7,000 employees.At one time the only place in the country that made more cars than Missouri was Detroit, but in the past year things are turning around according to John Fougere with the Department of Economic Development, "The Ford Plant in Claycomo, Ford announced they were going to be creating 1,600 new jobs with a new production line as they start making the new F-150 pick-up truck, on the other side of the state Wentzville announced that their GM plant is going to be investing $380 million dollars and adding another 1,600 auto manufacturing jobs". The auto industry isn't the only bright spot, Governor Nixon just inked a $4.4 billion dollar trade deal with China. Missouri farmers will get a shot in the arm from exports like beef, pork and soybeans. "A year ago in 2010 they were up 35 from 2009 that was a record for the state of Missouri but the kicker was that in 2011 for the first three quarterrs of the year we're up 13 percent over that 35 percent so our exports are doing very well right now.", Fougere said. We also asked about seasonal hiring and if it played a factor in the unemployment drop. He said the state uses a seasonal adjustment so the numbers are more accurate.