Employment

Desired Trend

Up

Current Trend

Up
Baseline (2010): 1,117,934
Current (2016): 1,162,128

Theme Prosperous

Definition

Number of full-time equivalent (FTE) jobs

Why is it Important?

Employment in the region is a key indicator of economic vitality and social well-being. Higher employment indicates that the skills of the local workforce match the skills required by the jobs in the region. The employment rate must be analyzed in conjunction with the unemployment rate and population growth, since an increase in employment is more valuable to the local economy if it outpaces working age population growth1 and is accompanied by decreases in the unemployment rate.

How are we Doing?

FTE employment2 increased in the St. Louis region from 1.12 million in the baseline year 2010 to 1.16 million in 2016. Employment fell by almost six percent from 2008 to 2009, followed by a slow increase over the following five years (average annual increase of about 0.8 percent) and a decrease of less than 1 percent over the last year. FTE employment increased 4 percent since 2010 but the region experienced a decline of almost 8,000 FTE jobs over the last year. The increase in employment from 2010 to 2016 (44,200) was accompanied by a decline in working age population (37,800)3 and a reduction in the number of unemployed workers (73,400)4, indicating that the increase in employment was not offset by a growth in working age population or weakened by an increase in unemployment. Despite recent growth, as of 2016 the St. Louis region is down 20,100 full-time equivalent jobs since the beginning of the recession in 2008; a decrease of 1.7 percent.

Among the largest 50 metropolitan regions in the country, St. Louis has the 20th largest number of FTE employees. These 50 regions account for 58.8 percent of the 124 billion FTE employees in the United States. St. Louis accounts for about 1 percent. St. Louis ranks 25th for FTE Employment per 1,000 people, which is about in the middle of the peer regions.

Geographic Level

St. Louis Metropolitan Statistical Area (MSA). View map.

Notes

1Working age population is defined as residents between the ages of 16 and 64.

2Full-time equivalent employment includes all non-farm workers in the region (all private and public sector employees). Full-time equivalency is determined by multiplying the number of employees by the average number of hours worked per week by private employees and dividing by 40 to convert to a standard 40 hour per week full time schedule. Average hours worked per week is not available for public employees, and is assumed to be the same as private employees.

3American Community Survey (B23001), United States Census Bureau

4Local Area Unemployment Statistics, Bureau of Labor Statistics

 

Data Sources

Current Employment Statistics, Bureau of Labor Statistics