• St. Louis Employers Looking Forward to a ‘Favorable’ Job Market in the New Year

    Dec 15, 2016
    As the clock ticks towards the end of 2016, the St. Louis metropolitan area is expecting to ring in the New Year with steady hiring levels.

    According to the latest edition of the Manpower Employment Outlook Survey, 20% of employers say they intend on hiring more employees in 2017 while 72% plan on retaining their current staff levels. Comparatively, only 4% say they will reduce payrolls and another 4% are unsure of their plans. 

    St. Louis’ Net Employment Outlook for the First Quarter of 2017 is 16%. This time last year, the Net Employment Outlook was only 12%. Not only is the region’s current Net Employment Outlook the strongest First Quarter score of the decade, but St. Louis continues to outpace hiring expectations from 61 of the largest 100 U.S. metropolitan areas and the nation as a whole.

    Industries expected to see notable hiring activity include: education and health services, information services, professional and business services, leisure and hospitality, manufacturing and transportation services, and government.  The construction, wholesale and retail trade, and financial service industries are expected to remain steady through early 2017.

    Q1 2017 graph
  • St. Louis Businesses Optimistic Going Into New Quarter

    Oct 04, 2016

    Local businesses are optimistic about St. Louis’ economy thanks to a strong third quarter. Hiring rates are climbing as the labor market improves. Additionally, improvements in the region’s commercial and residential real estate markets as well as commercial lending show consumers are growing more confident.

    The Federal Reserve Bank of St. Louis’ Third Quarter 2016 Burgundy Book reports that the metropolitan area’s unemployment rate is 4.9%. Employment growth is trending above the national average, particularly in the private service-providing sector. Business contacts are reporting increases wages from one year ago and expectations that increases will continue through the end of the year.

    New and existing home sales in St. Louis are rising rapidly. Home sales continue to outpace the national average while residential construction, while modest, is still higher than last year’s rate.

    The positive uptick in construction carries over to speculative and build-to-suit industrial projects. According to the Burgundy Book, “Almost twice as much industrial space is currently under construction in St. Louis compared with a year ago,” indicating the region’s continued growth.