Springfield, Missouri

February 24, 2005

SPRINGFIELD CARRIES STATE IN JOB GROWTH

Springfield continues to drive the state’s economy. This is most evident in new job growth during the past year and how other regions of the state compare to Springfield, based on the relative size of their workforce.

Throughout 2004, Springfield surged forward, creating more than five times the job growth expected for our area. Though Springfield’s metro area comprises slightly less than 7% of Missouri’s total workforce, more than 35% of the state’s 15,255 new jobs were created here.

Looking at each individual month, more than 40% of the state’s job growth in February, May, and November was registered in Springfield. These figures could not be calculated for October and December due to a net job loss state-wide, despite significant job creation in Springfield.

 

 
The data set used to determine job growth is known as the Local Area Unemployment Statistics and is published monthly by the Bureau of Labor Statistics, in conjunction with the Missouri Economic Research and Information Center. Many economists consider this data set to be best suited for measuring a local employment market because it includes non-traditional jobs such as home-based businesses, independent contractors, and small partnerships.

Visit us at www.business4springfield.com for additional information regarding developments and data on the Springfield area.

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