MOSourceLink’s recently released Show Me Jobs report quantifies the impact of new and young firms to Missouri’s economy. The report takes a close look at new and young firms in Missouri, using the Quarterly Census of Employers and Wages.
The 2020 report highlights 36,686 new jobs were created by first-time employers in Missouri in 2020.
Employment and wage information is collected for workers covered by unemployment insurance laws and covered by the Unemployment Compensation for Federal Employees (UCFE) program. This dataset contains information on employers and workers that can be explored to generate measurements of and insights into an entrepreneurial ecosystem.
New and young firms (startups) are defined as the first appearance of an establishment in the dataset. The report also provides year-to-year comparison data regarding job creation by new and young firms, wage growth and the industrial density of startup
These firms created an average of 37,270 new jobs in Missouri each year for the past five years. Considering the employees hired by these same firms in 2016 and in each succeeding year and accounting for job losses as well, first-time employers created 169,479 jobs from 2016 to 2020.
Consistent with nationally reported trends, this accounted for 79.7% of all new jobs and 6.7% of the total employment3 in Missouri each year.
In Missouri, new firms in the tech sector created an average of 863 jobs each year for the past five years.
To download the 2020 report, visit www.mosourcelink.com.