Unemployment Rate In St Louis Mo

Unemployment Rate In St Louis Mo

Unemployment Rate In St Louis Mo – Tying unemployment benefits to the state unemployment rate would weaken protections and slow economic recovery in the future

Although employment has improved dramatically since job losses during the pandemic, Missouri’s high unemployment rate masks significant geographic disparities. Additionally, not all Missourians were created equal.

Unemployment Rate In St Louis Mo

Tying unemployment benefits to economic conditions that are not representative of conditions in local areas or among certain groups will make it harder for Missourians to make ends meet during an economic downturn.

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As in other parts of the country, Missouri’s unemployment rate has risen during the COVID-19 pandemic. At the peak of the pandemic in April 2020, one in nine Missouri workers (or 11.2%) were unemployed, while the state’s pre-pandemic annual unemployment rate was 3.2% in 2019. Unemployment Insurance (UI), a federal-state partnership , which helps people who have lost their jobs by temporarily replacing a portion of their wages, is helping Missourians and their families stay afloat during an unprecedented crisis.

Although the labor market has improved since the beginning of the pandemic, the economic recovery has been slower for some workers than for others. A state’s unemployment rate is often not representative of economic conditions in all areas. Currently, 64 of Missouri’s 114 counties have an unemployment rate higher than the state average of 2.93%. Most of the counties with high unemployment are in rural Missouri, with particularly high rates in Buthill and southern Missouri (see Appendix for detailed rates by county and year).

In addition, unemployment among black and brown workers rises faster and lasts longer than white workers during economic downturns. This dynamic was exacerbated during the pandemic, as black workers were more likely to work in jobs susceptible to pandemic reductions in the workforce.

While unemployment insurance (UI) is critical for families experiencing job loss, UI benefits in Missouri are lower than in other states and are available for a shorter period of time.

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Missouri’s unemployment benefits are already among the most limited in the country. Limiting unemployment benefits by tying them to economic conditions or specific groups that do not represent local areas will make it harder for Missourians to make ends meet during an economic downturn and make it harder for our community to recover with unemployment benefits in the future . The state would weaken unemployment protection, which would slow economic recovery in the future

Although employment has improved dramatically since job losses during the pandemic, Missouri’s high unemployment rate masks significant geographic disparities. Additionally, not all Missourians were created equal. Tying unemployment benefits to economic conditions that are not representative of local areas or of certain groups will make it harder for Missourians to make ends meet during an economic downturn.

As in other parts of the country, Missouri’s unemployment rate has risen during the COVID-19 pandemic. The state’s pre-pandemic annual unemployment rate in 2019 was 3.2%, at the peak of the pandemic in April 2020, 1 in 9 Missouri workers (or 11.2%) were unemployed. Unemployment Insurance (UI), a federal-state partnership that helps people who have lost their jobs by temporarily replacing a portion of their wages, is helping Missourians and their families stay afloat during an unprecedented crisis.

Although the labor market has improved since the beginning of the pandemic, the economic recovery has been slower for some workers than for others. A state’s unemployment rate is often not representative of economic conditions in all areas. Fifty of Missouri’s 114 counties currently have an unemployment rate above the state average of 2.8%. Most of the counties with high unemployment are in rural Missouri, with particularly high rates in Buthill and southern Missouri (see Appendix for detailed rates by county and year).

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In addition, unemployment among black and brown workers rises faster and lasts longer than white workers during economic downturns. This dynamic was exacerbated during the pandemic, as black workers were more likely to work in jobs susceptible to pandemic reductions in the workforce.

Source: Bureau of Labor Statistics. State employment of the civilian noninstitutionalized population by sex, race, Hispanic or Hispanic ethnicity, and detailed age 2019-2022.

While unemployment insurance (UI) is critical for families experiencing job loss, UI benefits in Missouri are lower than in other states and are available for a shorter period of time.

Missouri’s unemployment benefits are already among the most limited in the country. Tying unemployment benefits to economic conditions that are not representative of local areas or specific groups and further limiting those benefits will make it harder for Missourians to make ends meet during an economic downturn and make it harder for our community to recover in the future. What if we could tackle rising youth unemployment and bridge the skills gap at the same time? STL Youth Jobs was created to address the many challenges affecting our region’s trajectory. Youth employment has the power to bring about change in many important sectors.

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In St. Louis, like the rest of the country, we have an increasing number of vacant jobs and a growing shortage of skilled workers. Over the past five years, employers in the metro St. Louis constantly reported a shortage of skilled workers. A common obstacle to expanding employment. [1]

The main reason is a lack of skills – employers have jobs they need to fill, but our workers don’t have the skills to fill them. It is estimated that the skills gap could leave an estimated 2.4 million jobs between 2018 and 2028 with a potential economic impact of $2.5 trillion. [2]

If we want to build a strong and growing region, we need a strong workforce. If we are to have a strong workforce, we must ensure that we strategically equip tomorrow’s workforce with the skills they need to be competitive.

At STL Youth Jobs, we practice an innovative solution called demand-driven skills development. We identify areas of growing demand in our region, recruit employers from these fast-growing industries and provide young people with job opportunities that equip them with the skills and experience they need to excel in these industries.

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Result? We create work-ready young people who are ready to work in industries that are ready to hire them. Today we invest in tomorrow’s workers.

Youth unemployment is a growing problem and threatens the future of our workforce, which threatens the success of our sector. Our city’s youth unemployment rate is higher than any other occupational group.

How can our youth consider themselves contributors to our society if they do not have the opportunity to work? How do they learn essential workplace behaviors and gain a vision for their life’s work? How will they learn how to manage money or how will they be motivated to educate themselves and expand their opportunities?

Almost 30,000 young people in our city do not work or study [3] – the so-called disengaged or “disconnected young people”. Research shows that disengaged young people place an enormous burden on society.

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We believe that these young people just want a chance to make a better life for themselves. For many of them, that opportunity starts with a job. Research shows that employment has a transformative effect on many important indicators. We believe our future workforce is ready and waiting to work, and if given the opportunity, many of these unaffiliated youth will grow to their full potential and change the future of our workforce.

However serious the situation, we believe (and research shows) that youth employment in these sectors can have a profoundly positive impact. About 46,000 Missourians received overpayments in unemployment benefits in 2020, largely due to clerical errors related to the unprecedented volume of unemployment claims related to the COVID-19 pandemic. Given the pressure on already economically disadvantaged families, along with the stimulatory effect of additional dollars flowing through Missouri communities, Missouri should forgo more state and federal unemployment benefits.

Over the past year, Missouri has experienced unprecedented job losses due to the COVID-19 pandemic and subsequent economic crisis. In April, at the height of the stay-at-home order, more than one in ten Missouri workers were out of work, and about 286,000 Missourians applied for unemployment benefits. As this chart shows, these rates have improved; However, both the unemployment rate and applications for unemployment benefits still remain above the pre-pandemic level.

Unemployment Insurance (UI) is a federal-state partnership that helps many people who lose their jobs by temporarily replacing some of their wages. In response to these unprecedented unemployment rates, the federal government approved several new unemployment insurance (UI) programs as part of the federal stimulus package, designed to supplement existing state programs. As of March 2020, nearly 489,000 Missourians were receiving unemployment insurance payments.

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While these programs provided a lifeline for Missourians who lost their jobs during the pandemic, problems managing the federal program’s rapid change, compounded by unprecedented claims, caused the state to improperly overpay UI benefits to Missourians. The Missouri Department of Labor and Industrial Relations (DLIR) overpaid 46,000 state and federal unemployment benefits in Missouri totaling nearly $150 million. That was about 3% of all UI payments made in calendar year 2020 (overpayments by region, see appendix).

These are known as overpayments

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