St. Louis Market Report
St. Louis Coming Back After Shutdown With High-Profile Construction Projects Underway; Retail Assets With Necessity-Based Tenants Draw a Wide Range of Investors
Metro employment slowly returns. Unemployment in St. Louis jumped from 3.4 percent before the pandemic to 12.0 percent in April as stay-at-home orders went into effect and 168,400 positions were cut. Since then, roughly half of the jobs have been recovered, keeping the unemployment rate below the U.S. level through September. The leisure and hospitality sector was significantly impacted when bars, restaurants and hotels temporarily shuttered and travel was severely restricted. The segment released almost half of its workforce in March and April but 54 percent of the lost positions had returned as of the end of September. Education and health services is the metro’s largest sector, comprising 19 percent of total jobs. Many of the 13,700 positions eliminated in the segment returned as schools reopened in the fall.