Wednesday, March 17, 2010

St. Louis Economy Rebounding Faster Than National Average, Though Still Slowly

Posted By on Wed, Mar 17, 2010 at 8:35 AM

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A new study has some good news for the St. Louis region.

The Brookings Institution reports that the economic output here for the last three months of 2009 grew at a rate of 2.1 percent, ahead of the national average of 1.6 percent.

Meanwhile, as recounted today in the Post-Dispatch, St. Louis was among the minority of U.S. cities that added jobs in the fourth quarter of 2009. Though you'd be forgiven if you didn't notice the regions whopping job growth in the quarter of one-tenth of one percent.

Now for the the bad news.

The regional unemployment rate still hovers at 9.8 percent -- slightly above the national average -- and the Brookings Institution predicts it will take St. Louis eleven years to make up for the 59,000 jobs lost in the past two years.

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