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 8: Household Spending Update – June 29, 2020
Relative to the U.S. average, consumer spending in Missouri has more quickly returned to January 2020 levels. At the end of March—the lowest spending point since the pandemic began—Missouri household spending had dropped 35% compared with January. By June 17, households spent nearly as much as they did in January. Spending has rebounded the least among high-income households, as total spending is still 8% lower than in January. Consumers have continued to most restrict spending on restaurants, transportation and arts and entertainment. Many factors will influence future spending trends including the continuation or expansion of federal assistance spending.
Missouri Economy Indicators Issue 7: Remote Work – June 15, 2020
Nearly 25% of U.S. employees occasionally worked from home prior to COVID-19, and only 15% had dedicated telework days. In recent months that figure has drastically changed as over 6 in 10 jobholders, by mid-April, were working from home. Most employees will move back to past work situations as businesses reopen, but some remote work will stay in place. The increase in telework opportunities has longer-term investment and skill implications for Missouri.
Missouri Economy Indicators Issue 6: Business Openings – June 1, 2020
By mid-May 2020, most consumer-focused Missouri businesses (77%) were open, compared to 58% of Missouri businesses operating in mid-April. Being open for business does not mean revenues are back to pre-COVID levels. Revenue for operating firms is mixed; some businesses are above last year's revenue levels while others are substantially lower. These data provide a window into changing revenue patterns, across areas and industries that will be useful to follow as Missouri businesses reopen.
Missouri Economy Indicators webinar
This Engaging 4 MO webinar shares the latest analysis of how COVID-19 has had impacts on Missouri's economy. It highlights how specific industries, including tourism, retail, manufacturing, healthcare and agriculture, have been affected by coronavirus and includes changes in unemployment, gross domestic product and payroll.
Title: COVID-19 Missouri Economy Indicators Update: Urban and Rural Impacts
Presenter: Alan Spell, Assistant Extension Professor
Date: April 20, 2020