Missouri Economy Indicators
The recent growth in housing prices has received lots of attention, as rising mortgages rates and more expensive homes can deter would-be home buyers. In the years leading up to 2020, Missouri and U.S. home values steadily rose at an annual rate of 5%, but over the past two years several factors have driven double-digit annual growth rates. The growth rate varies across the state. View the Missouri county-level map to see how the growth rates in your region have changed in the past year.
Forests cover 15.4 million acres—or one-third of Missouri's landscape. In 2019, Missouri's most harvested tree species by volume were red oak (44%), white oak (28%), and hickory (7%). Missouri wood product and paper product manufacturers account for almost 6% of the state's manufacturing jobs—similar to the U.S. average. Most wood product manufacturing jobs concentrate in southeastern Missouri near forested areas and process the state's hardwoods. While the state's paper product manufacturers are more likely to locate near urban areas.
Graphic source: MU Extension graphic using 2021 EMSI Burning Glass and Bureau of Labor Statistics data. Location quotient (LQ) analysis shows the extent to which an industry concentrates in a particular region compared with the nation overall. An LQ of 5.0 means an industry is five times more concentrated in jobs than the national average.
In January 2022, Missouri's nursing and residential care facilities had 13.9% fewer jobs than they did in January 2020 — a net loss of 10,500 jobs in two years. Although Missouri's job losses in this industry were greater than the national average (-12%), other states such as Delaware (-22.3%), Mississippi (-17.6%) and Michigan (-17%) experienced greater relative job losses. Low wages contribute to these staffing challenges. The two most common occupations within nursing and residential care facilities both had median hourly wages in 2020 that were less than two-thirds of Missouri's median hourly wage.