St. Louis Fed report shows job growth, more buying and borrowing

People in St. Louis are getting jobs, buying more cars and houses and borrowing to do it, the Federal Reserve Bank of St. Louis says in its latest, fairly upbeat read on the region’s economy.

The Fed’s business contacts reported “improving labor market conditions and increased demand for labor” in a region spanning Southern Illinois, eastern Missouri and the Ozarks.

Job growth has “exceeded the national average in St. Louis and has been trending upward,” the Fed said Wednesday in the “Burgundy Book,” its quarterly snapshot of regional economic conditions.

In a separate report Wednesday, the government said the St. Louis metro area added 27,000 jobs in the year ended in August — a 2 percent increase. Jobs nationally were up 1.7 percent.

The Fed’s regional report assembles statistics as well as reports from business people around Missouri and Illinois.

Read more: St. Louis Post-Dispatch

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