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Examining Job Totals Touted By Governor Nixon

Job numbers announced by Missouri Gov. Jay Nixon are not matching with the totals released by the federal government. Plus, the state is looking for ways to make up for less federal funding.

Employment numbers promoted by Missouri Gov. Jay Nixon do not match with the state job totals released earlier by the federal government.

Nixon stopped at Tech Manufacturing LLC in Wright City Thursday to announce the state has added 10,900 manufacturing jobs this year.

The press release sent out cites the state and regional unemployment rates released on Tuesday by the U.S. Bureau of Labor Statistics.

As reported by Missouri Journal, the manufacturing sector in Missouri saw a drop of 4,000 jobs from October to November this year.

A spokesperson for the Missouri Department of Economic Development said the 10,900 figure cited is a measurement of new manufacturing jobs from December 2010 to November 2011.

December is not listed in any of the tables provided by the statistical unit within the U.S. Department of Labor.

The spokesperson responded Friday by sending a spreadsheet outlining the department's calculations.

Using a year-over-year comarison instead, 11,500 manufacturing jobs were added between last year November and this year. But when every sector is included the number of jobs added in Missouri drops to 1,400. Education and health services, along with the government segment dropped.

The state unemployment rate dropped to 8.2 percent in November from 8.5 percent in October. However, the number of employees on nonfarm payrolls in Missouri also dropped by 3,300.

To be considered unemployed in the survey estimates, a person must be actively seeking employment. Therefore, more people in Missouri have likely dropped out of the workforce.

Missouri estimates higher revenue next fiscal year

Tis the season to make predictions, and state budget leaders have some estimates of their own.

The consensus revenue estimate, put together by budget leaders from the Missouri General Assembly and from the governor's office, predicts general revenue will increase 3.9 percent.

Higher revenue arriving in Jefferson City, however, will not make up for the loss of federal funds.

Missouri Budget Director Linda Luebbering told Missouri Journal the state will be receiving around $650 million less federal money for fiscal 2013, starting in July, while revenue growth will total around $285 million. Therefore, the budget office is looking for ways to make up the funding difference.

St. Louis County maintains AAA credit rating

Fitch Ratings provided St. Louis County with an early Christmas present.

The credit rating agency affirmed the county's AAA credit rating.

The report by Fitch cited a low debt burden and strong interal capital funding practices.

By Brian R. Hookbrhook@missourijournal.com, (314) 482-7944

Hook is editor of Missouri Journal, which tracks the economy across the Show-Me State. For news updates, sign up for a newsletter and follow Missouri Journal on Twitter and Facebook.

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

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