The St. Louis and Kansas City metropolitan areas have mediocre economic vitality, according to the latest On Numbers Economic Index.
St. Louis is ranked at No. 49 and Kansas City is No. 63 in the index, which is designed to measures the relative economic strength of 102 U.S. metropolitan areas with more than 500,000 residents.
During the past five years in St. Louis, the earnings growth was 15.13 percent, but private-sector job growth was 4.67 percent. The one-year earnings growth was 5.67 percent. For the October index, the weekly earnings per worker was $880, and the unemployment rate was 7.8 percent
Kansas City’s private-sector job count grew by 1.45 percent. The unemployment rate was 7 percent, and weekly earnings per worker was $814.72, $65.24 less than St. Louis. The one-year earnings growth was less than 1 percent.
One-year house appreciation dropped .66 percent in St. Louis and 1.86 percent in Kansas City.
G. Scott Thomas from The Business Journals updates the On The Numbers Economic Index rankings the second Monday of each month based on an 18-part formula. The formula uses the latest data from the U.S. Bureau of Labor Statistics and the Federal Housing Finance Agency and is based on 18 components in four categories: five-year changes, one-year changes, long-term trends and current rates. Markets are ranked and scored in each of the 18 sections within these categories.
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