The environment facing Missouri workers and our state’s businesses is more challenging now than ever before. Not just other states in the U.S., but nations around the world are competing with us for customers, capital, resources, and jobs.

We now have more jobs in Missouri and more Missourians employed than at any time in our state’s history…but is our state’s economy really succeeding?

This report helps to answer that question by providing the latest economic indicators for Missouri. A variety of measures have been chosen to track the state’s progress. Each has a specifi c purpose, and when considered together, they paint a more complete picture of how Missouri is doing.

Highlights from this report:

• Nationally, economic growth slowed in 2006. Missouri’s economic growth generally follows U.S. trends.
• Employment in Missouri has been steadily rising for the last two years. As of March 2007, Missouri employment increased by 1.2 percent over the year, compared to the 1.4 percent national average.
• Unemployment in Missouri is low by historical standards and has been generally decreasing.
• The services sector is the fastest growing portion of the state’s economy. Missouri has had fairly widespread growth across several industry sectors, including professional and business services, educational and health services, leisure and hospitality services, and trade, transportation and utilities.
• Manufacturing employment has been declining in Missouri and across the U.S.
• Missouri exports set a record in 2006 with $12.8 billion in sales to 191 countries around the world.
• Personal income growth in Missouri has been steady, and per capita incomes have grown more rapidly than inflation.
• Consumer spending across the U.S. economy has been slowing, and Missouri taxable sales have followed a similar trend.

Overall, these indicators show that Missouri’s economy has been growing in the last year, although in many cases, slightly slower than the U.S. average. The remainder of this report details the growth trends, analyzes Missouri’s regional economies, and describes the industries targeted for future expansion in the
state.

Download Missouri Economic Report 2007

PDF format, 1.1MB, 25Pages.

Credits
This report was prepared by the staff of the Missouri Economic Research and Information Center (MERIC) to fulfi ll program plan requirements from the U.S. Department of Labor, Employment and Training Administration.

Primary authors: Veronica Gielazauskas, Bill Niblack, Marty Romitti
Special contributions by: Tony Brite, Frances Kemp

Visit The Missouri Department of Economic Development Website

The Department of Economic Development will achieve its vision by stimulating and supporting economic security, opportunity, growth and a high quality of life in Missouri communities.

The Department of Economic Development administers a wide array of programs designed to enhance Missouri's economy in the 21st Century. It is composed of agencies that execute statutory requirements and department policy in the areas of community, economic and workforce development,.

DED's strategic plan offers information regarding the department's efforts and initiatives.

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