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Missouri Quick Facts

Missourians Saw Their Grocery Prices Increase By 5% In The First Quarter Of 2008. According to the Kansas City Star, “Grocery prices for Missouri shoppers increased about 5 percent in the first three months of this year, compared with the fourth quarter of 2007, a farm industry survey found. According to a market basket survey by the Missouri Farm Bureau, the cost of 16 basic food items in the state averaged $43.60 in the first quarter of 2008, up $2.26 from the state average of $41.34 in the fourth quarter of 2007. Missouri 's first-quarter average was down $1.43 from the national first-quarter average for those same items. But Missouri 's 2008 quarterly average was up $4.28 from the state's 2007 first-quarter average of $39.32. This measure of “ag-flation” amounted to a nearly 11 percent year-over-year increase.” [ Kansas City Star, 4/4/2008]

Missouri 's Unemployment Rate Is 6.4% - Highest Rate In Almost Two Decades. According to the Bureau of Labor Statistics, in July, Missouri 's unemployment rate rose to 6.4%. Missouri 's unemployment rate is at its highest mark since October 1991. Missouri 's unemployment rate is also higher than th e national unemployment rate which is 5.7%. Missouri 's unemployment rate is currently the 14 th highest in the country. [Analysis of Data from the Bureau of Labor Statistics Data, http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?series_id=LASST29000003&data_tool=XGtable ]

More Missourians Out Of Work Now Than At Any Point In Time Since 1984. Bureau of Labor Statistics data indicates that there were 192,892 Missourians out of work. The last time there were this many Missourians unemployed was in January 1984. [Analysis of Data from the Bureau of Labor Statistics Data, http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?series_id=LASST29000004&data_tool=XGtable ]

7,700 Missourians Lost Their Jobs in July. According to the Bureau of Labor, 7,700 Missourians lost their jobs in July 2008. [ Analysis of Data from the Bureau of Labor Statistics Data, http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?series_id=SMS2900000000000001&data_tool=XGtable ]

Missouri Has Lost 22,000 Jobs Since October. Since peak employment in October 2007, Missouri has lost 22,000 jobs. [Analysis of Data from the Bureau of Labor Statistics Data, http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?series_id=SMS2900000000000001&data_tool=XGtable ]

Missouri Has Lost More than 20,000 Manufacturing Jobs Since 2005. According to recent Bureau of Labor Statistics data, Missouri has lost 21,700 manufacturing jobs since Matt Blunt took office in January of 2005.  [Analysis of Data from the Bureau of Labor Statistics Data] http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?series_id=SMS2900000300000001&data_tool=XGtable ]

If Missouri Had Grown At The National Average Since 2005, 33,442 More Missourians Would Have Jobs Today. If Missouri had grown at the average growth rate of the rest of the country between January 2005 and July 2008, during this time period, 33,442 more Missourians would have jobs today. [ Analysis of Data from the Bureau of Labor Statistics Data ]

St. Louis Business Journal: Local Economy Slowing – Layoffs Planned, Home Sales Down. According to a recently published report by the Federal Reserve mentioned in the St. Louis Business Journal, the Saint Louis economy is slowing. The article noted, “Manufacturing activity in the St. Louis zone slowed during the first quarter of 2008, with planned layoffs in auto assembly and parts plants. In St. Louis , January home sales declined by 12 percent compared with the same period in 2007, and residential building permits fell by around 20 percent. The commercial real estate market is relatively strong and is expected to stay that way unless the current economic slowdown worsens, according to the report.” [ St. Louis Business Journal, 3/20/2008]

Missouri Ranked Behind All But Two States In Average Annual Wage Growth. In 2007, Missourians' paychecks grew more slowly than all but two states, as Missouri ranked 48 th in average annual pay growth. [CFED, 1/18/2008; http://www.cfed.org/focus.m?parentid=34&siteid=2346&id=2346]

Missouri 's “New Economy” Has Been On A Steep Decline. In 2002, Missouri ranked 28 out of the 50 states in the New Economy Index. In 2007, Missouri 's rankings had slipped from 28 to 35. The New Economy Index used multiple indicators to rate how states are structured according to the tenets of the New Economy. This represents one of the steepest declines in the nation. Meanwhile other Midwest states are making progress. Illinois , for example, has improved its rankings from 19 in 2002 to 16 in 2007. [Information Technology and Innovation Foundation: New Economy Index, 2007; http://www.itif.org/files/2007_State_New_Economy_Index.pdf ]

Missouri 's Ranked 18 th In Foreclosures In July; Missouri Foreclosures Filings Increased 73% In The Past Year. Missouri had the 18 th highest foreclosure rate in May, according to RealtyTrac's May foreclosure activity report. Foreclosure filings increased 73% since July 2007. [Press Release, RealtyTrac, 8/14/2008 http://www.realtytrac.com/ContentManagement/pressrelease.aspx?ChannelID=9&ItemID=5041&accnt=64847 ]

Blunt's Health Care Cuts Have Cost Missouri Jobs. According to a recent editorial in the Kansas City Star, “The proposals won't restore the 2005 Medicaid cuts affecting 400,000 people that cost the state $700 million over two years in federal matching funds. Loss of federal money cost the state at least $1.4 billion in economic activity, including 20,000 new health-care jobs, one economist says.” [ Kansas City Star, 5/13/2007]

Missouri Ranked 37 th Overall in Growth from 2006 to 2007. According to recent U.S. Bureau of Economic Analysis data, Missouri ranks 37 th overall in growth from 2006 to 2007. Missouri 's real gross domestic product increased 1.3% from 2006 to 2007 according to advance estimates. [Analysis of Data from the U.S. Bureau of Economic Analysis Data Release, 6/5/08,

http://www.bea.gov/newsreleases/regional/gdp_state/2008/pdf/gsp0608.pdf ]

Missouri 's P er Capita Real GDP Increased by Only $44 Since 2005; Ranked 39 th in 2007. According to recent U.S. Bureau of Economic Analysis data, Missouri 's per capita GDP increased by only $44 since 2005 and Missouri ranks 39 th in per capita real GDP in 2007 according to advance estimates. [Analysis of Data from the U.S. Bureau of Economic Analysis Data Release, 6/5/08, http://www.bea.gov/newsreleases/regional/gdp_state/2008/pdf/gsp0608.pdf ]