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Missouri Economy

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Manufacturing Scorecard 2020

Center of Business & Economic Research - Ball State University

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24/7 Missouri

Business

Starting, Managing & Growing

Business Resouces

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2021 Economic Report Economy Overview

Depart. of Higher Education & Workforce Development

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Missouri Economic

Dashboard

Employment, Unemployment, GDP and Exports Data

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Update from the Missouri Economic Research and Information Center

Missouri had the 12th lowest cost of living in the United States for the third quarter 2021. St. Joseph was added this quarter as a Missouri city in the Cost of Living series. In general, the most expensive areas to live were Hawaii, Alaska, the Northeast, and the West Coast. The least expensive areas were the Midwest and Southern states. 

All of the participating Missouri cities had a composite index below the national average for the third quarter 2021. The city with the lowest cost of living index for 2021 was Joplin, with an index of 83.9. The city with the highest cost of living was St. Joseph, with an index of 96.5.

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Manufacturing is a major component of Missouri’s $321.7 billion economy.

It represents 11.8 percent ($37.97 billion) of the 2020 total Gross State Product (GSP). Nationally, manufacturing contributed 10.8 percent to the total GDP. Compound annual growth (CAGR) over the past five years in Missouri’s manufacturing GSP averaged -0.7 percent; nationally the CAGR was 1.3 percent.

 

Manufacturing accounts for 11.7 percent of the state’s private sector employment with 266,439 jobs across 6,864 establishments. The industry has added 5,111 jobs since 2015, growing 0.39 percent per year over five years compared to -0.3 percent national growth rate over the same period. 

 

Missouri’s manufacturing employment declined by 10,665, whereas manufacturing employment nationwide declined by 693,046 when compared to 2019. Declines in both Missouri and the U.S. are in part due to the impact of the COVID-19 pandemic.