Missouri ranked top-ten for economic diversity
Labor reports show that there is a plethora of thriving industries in the Show-Me State and manufacturing is at the top of the list.
The Missouri Economic Research and Information Center released a study highlighting the state’s economic diversity using the most recent statistics available (2015). A diversified economy is one that can better manage the ups and downs of the business cycle in contrast to an economy that is made up of only a few industries. A more balanced economy can absorb the economic shock in the event of some underperforming industries.
In 2015, Missouri ranked seventh nationally for having one of top most diverse economies.
The state’s top five industries for 2015, not including Government, were Manufacturing (13.2 percent of total GDP), Real Estate (11.6 percent), Health Care (8.4 percent), Finance and Insurance (7.8 percent), and Wholesale Trade (6.7 percent).
For the full study, click here.