Missouri Economy Indicators
The coronavirus, or COVID-19, pandemic is a global health concern and the focus of many efforts to contain and treat this disease. At the same time the managed re-opening of the economy is also of critical importance. This Missouri Economy Indicators series will highlight data and resources that businesses and policymakers can use to navigate this evolving situation.
Missouri Economy Indicators, Issue 13: Online Job Postings — Sept. 14, 2020
Online job posting trends show new weekly postings declined sharply in late March. New job postings are rising, but they are not yet back to their pre-pandemic levels. For instance, in the week ending Sept. 5, 2020, Missouri had 13,350 new job postings — down roughly 13% from mid-February. These trends are consistent throughout the state, as trends in job postings were similar in the St. Louis and Kansas City metro areas and the balance of the state. Comparing job postings data from summer 2019 to those in summer 2020 shows how the pandemic has affected different Missouri industries. Some industries such as truck transportation have experienced growth, while others such as restaurants and bars are still recovering from the substantial job losses they experienced in March and April.
Missouri Economy Indicators, Issue 12: Household Spending Update — Sept. 1, 2020
Household spending reflects continued consumer uncertainty in Missouri. Since peaking to pre-COVID levels in late June, Missouri’s total consumer spending decreased 9 percentage points during July before returning to January levels again in August. U.S. spending has never fully recovered and now stands at 5% less. Analyzing purchases by an area’s average household income shows spending has rebounded the most among high-income in the past month. Restaurant and hotel spending has continued to increase but remains 21% below January levels. Continued volatility in spending may reflect both safety concerns and income and presents challenges to business owners. Consumers have continued to most restrict spending on arts and entertainment, and transportation reshaping these parts of the economy.
Missouri Economy Indicators, Issue 11: Older Adults in Business Ownership and Workforce — Aug. 10, 2020
Older business owners and workers play an increasingly important role in our economy. Nationally they represent one in three business owners and start 25% of all new firms. Private-sector workers aged 55 years and older represented 23% of Missouri’s 2019 labor force, and held the most jobs in health care. The transit & ground passenger transportation industry had the largest share of older workers in 2019, nearly half of those workers are at least 55 years old. As older adults, these workers are more at risk for COVID-19 illness and represent a potential long-term labor challenge for industries with larger proportions of these experienced owners and employees.
Missouri Economy Indicators webinar
On July 29, Alan Spell, assistant extension professor with MU Extension's Exceed - Regional Economic and Entrepreneurial Development program, presented the latest from its Missouri Economy Indicators series in an Engaging 4 MO webinar. During the webinar presentation, Spell summarized trends in consumer spending, unemployment, business sentiment, businesses reopening during the COVID-19 era and performance of key industries. He also introduced how the COVID-19 pandemic may cause long-term economic structural change.
Title: MO Economy Indicators – An Update of Key Measures as the State Reopens
Presenter: Alan Spell, Assistant Extension Professor
Date: July 29, 2020