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St. Louis Employment Update
- 1. Total jobs vs. unemployment rate: St. Louis Source: BLS, JLL Research Industrial employment trends (12-month change) :St. Louis Source: BLS, JLL Research Job growth/loss by sector (12-month change): St. Louis Source: BLS, JLL Research Employment Update Metro St. Louis | November 2015 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 1,200,000 1,250,000 1,300,000 1,350,000 1,400,000 1,450,000 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Peak: 1,399,061 jobs 3.1% unemployment rate total jobs (1,300) (900) (900) (300) 300 1,600 1,700 4,900 4,900 5,900 Professional & Business Services Mining, Logging & Construction Other Services Financial Activities Information Government Manufacturing Trade, Transportation & Utilities Leisure & Hospitality Educational & Health Services Number of Jobs Office employment trends (12-month change) :St. Louis Source: BLS, JLL Research Job growth (12-month change): United States vs. St. Louis Source: BLS, JLL Research -2.0% 0.0% 2.0% 4.0% 2011 2012 2013 2014 2015 St. Louis United States 5.1%U.S. unemployment 1.9%U.S. 12-month job growth 4.6%St. Louis unemployment 1.2%St. Louis 12-month job growth 4.5%Missouri unemployment 0.9%Missouri 12-month job growth (15) (10) (5) 0 5 10 15 2011 2012 2013 2014 2015 Financial Activities Professional and Business Services Information Government (15) (10) (5) 0 5 10 15 2011 2012 2013 2014 2015 Mining, Logging & Construction Trade, Transportation & Utilities Manufacturing Other Services
- 2. Industry employment stratification St. Louis Source: JLL Research ©2015 Jones Lang LaSalle IP, Inc. All rights reserved.For more information, contact: Blaise Tomazic | blaise.tomazic@am.jll.com Employment statistics St. Louis Sep-13 Sep-14 Sep-15 Total Non-farm Employment 1,309,400 0.9% 1,321,500 1.1% 1,337,400 1.2% Unemployment Rate 6.8% 5.7% 4.6% St. Louis Supersectors Sep-13 Sep-14 Sep-15 Mining, Logging & Construction 61,300 3.0% 62,100 1.3% 61,200 -1.4% Manufacturing 110,500 0.5% 113,100 2.4% 114,800 1.5% Trade, Transportation, & Utilities 245,100 0.5% 249,100 1.6% 254,000 2.0% Information 28,900 -2.7% 29,000 0.3% 29,300 1.0% Financial Activities 85,300 0.6% 85,500 0.2% 85,200 -0.4% Professional & Business Services 199,900 5.1% 204,400 2.3% 203,100 -0.6% Educational & Health Services 226,900 -2.1% 229,400 1.1% 235,300 2.6% Leisure & Hospitality 142,800 2.6% 144,200 1.0% 149,100 3.4% Other Services 44,800 -1.1% 45,400 1.3% 44,500 -2.0% Government 163,900 0.2% 159,300 -2.8% 160,900 1.0% 19% 18% 15%12% 11% 9% 6% 5% 3% 2% Trade, transportation and Utilities Educational and Health Services Professional and Business Services Government Leisure and Hospitality Manufacturing Financial Activities Mining, Logging and construction Other Services Information News on the street St. Louis businesses expanding, contracting, etc. Anheuser Busch Inbev | Brewery: contracting Anheuser Busch Inbev (NYSE: BUD) is moving business support services to the company’s Global Center in India, resulting in fewer than 40 layoffs at the center in St. Louis. In 2008, A-B employed 6,000 in St. Louis; but after InBev acquired the brewer in 2008, that number has dropped by more than a third. Boeing | Aerospace: expanding The Boeing Company’s (NYSE: BA) Research and Technology labs are hiring 700 engineers, technicians and staff to develop commercial airplanes and military systems. In 2013, the company announced 6,000 engineering jobs would move from the Puget Sound to St. Louis, Huntsville, and Charleston, saving Boeing $100 million per year by reducing the cost per person to $152,000 from $212,000. Of 165,000 employees company-wide, 15,000 work in St. Louis. KPMG | Accounting: expanding Over the next three years, international accounting firm KPMG will create 175 new IT jobs. KPMG’s downtown St. Louis office is at 10 South Broadway, where 270 employees currently work. The firm is receiving $7.4 million in tax incentives through the Missouri Works program for this information technology expansion. Monsanto | Agritech This month, Creve Coeur-based agriculture technology company Monsanto (NYSE: MON) announced a $400 million expansion of its Chesterfield Village Research Center. As many as 65 research and development employees may relocate to Chesterfield, Missouri, from Monsanto’s site in Research Triangle Park, Durham, North Carolina, which is closing in 2016. Earlier this month, the company also announced 2,600 layoffs company-wide in sales and research following a fourth- quarter loss of $500 million. Monsanto projects the $900 million downsizing effort will save $275 to $300 million per year in sales and research branches, and another $100 million per year in operating costs. SunEdison | Energy: contracting Last month, SunEdison (NYSE: SUNE) announced a global consolidation plan involving a 10.0 percent reduction in workforce. This month that number has increased to 15.0 percent. Due to recent mergers and acquisitions, the company needs to remove duplicate activities by consolidating global finance and legal support teams. Layoffs will cost the solar developer $30 to $40 million in severance pay. Last year, SunEdison signed an 11.5 year lease for over 100,000 square feet in Riverport Tower. It is unknown how the reductions will affect employees in St. Louis. SyMyco | Biotech: expanding In BRDG Park at the Danforth Plant Science Center, biotech company SyMyco is tripling its research and production capabilities in collaboration with Valent Biosciences Corp., parent company of Mycorrhizal Applications. Mycorrhizal is an inoculation for plants that improves the roots’ ability to access nutrients and water. SyMyco’s new hires in 2016 will support product demand and new research and development projects.