In 2024, Missouri achieved a significant milestone by recording the second-highest job growth rate among all U.S. states. The state’s nonfarm employment expanded by 2.8%, surpassing the national average of 1.4%.
Key Factors Driving Missouri’s Job Growth
Several sectors contributed notably to Missouri’s impressive job growth:
- Manufacturing Industry: Between 2020 and 2024, Missouri’s manufacturing sector experienced a 5% growth. The state’s affordability, particularly in terms of land costs, has attracted businesses looking to expand manufacturing operations.
- Real Estate and Rental Leasing: This sector led the nation with a 9.1% growth in Missouri, significantly higher than the national average of 0.8%.
- Professional Business Services: While this sector saw substantial national growth, Missouri’s growth remained relatively flat. Efforts are underway to bolster this area, focusing on support services like human resources, law, and IT.
Comparative Job Growth: Missouri vs. National Leaders
Missouri’s job growth percentage was second only to Idaho’s. In terms of numeric job gains, Missouri ranked sixth, following California, Texas, New York, Pennsylvania, and North Carolina.
Metropolitan Areas Leading the Charge
Among Missouri’s metropolitan regions, Columbia stood out with a 2.4% job growth, while Springfield experienced a 0.6% increase.
Strategies for Sustaining Job Growth
To maintain and enhance this upward trajectory, Missouri’s Department of Economic Development plans to:
- Facilitate Land Acquisition: Simplify processes for businesses to acquire land, encouraging further industrial and commercial development.
- Promote Workforce Education: Invest in educational programs to equip the workforce with skills relevant to emerging industries, particularly in professional business services.
Missouri’s Job Growth Overview (2024)
| Metric | Missouri | National Average |
|---|---|---|
| Nonfarm Job Growth Rate | 2.8% | 1.4% |
| Manufacturing Sector Growth (2020-2024) | 5% | N/A |
| Real Estate and Rental Leasing Growth | 9.1% | 0.8% |
| Columbia Metro Area Job Growth | 2.4% | N/A |
| Springfield Metro Area Job Growth | 0.6% | N/A |
Missouri’s impressive job growth in 2024 underscores the state’s economic resilience and strategic initiatives.
By focusing on key sectors and fostering a conducive business environment, Missouri has positioned itself as a formidable player in the national economy.
Continued investments in infrastructure, workforce development, and business-friendly policies are essential to sustain this momentum.
