Labor reports show that there is a plethora of thriving industries in the Show-Me State.
The Missouri Economic Research and Information Center released a study highlighting the state’s economic diversity using the most recent statistics available (2015). A diversified economy is one that can better manage the ups and downs of the business cycle in contrast to an economy that is made up of only a few industries. A more balanced economy can absorb the economic shock in the event of some underperforming industries.
In 2015, Missouri ranked seventh nationally for having one of top most diverse economies!
The state’s top five industries for 2015, not including Government, were Manufacturing (13.2 percent of total GDP), Real Estate (11.6 percent), Health Care (8.4 percent), Finance and Insurance (7.8 percent), and Wholesale Trade (6.7 percent).
A half dozen industries experienced dramatic change, between 2014 and 2015, in share of GDP as well as value. Professional, Scientific, and Technical Services increased its GDP share from 5.9 percent to 6.4 percent which translates to a near 15 percent increase in value; the value of the Real Estate industry increased 14 percent, Retail Trade 10 percent, and Manufacturing 8 percent.
To read the complete report, click here. For more information on some of Missouri’s booming industries, check out our website.
Help us spread the
news through Facebook and Twitter! If you’re looking for a great place to
visit, live, get an education, or start a business, you can find resources and
information at mo.gov or ded.mo.gov.
Click here to update and
add subscriptions to your DED GovDelivery account