Number of Missouri Businesses Grows in 2004
The Missouri Economic Research & Information Center, MERIC, recently completed its annual count of Missouri businesses for 2004. For the year Missouri reported an average of 158,393 private sector businesses, an increase of 1,822 from 2003, more than two times the number from the previous year.
Payroll and average annual wage growth also posted strong gains compared to 2003. Average annual wages increased by 3.2% in 2004, maintaining the recent trend of improving annual wage growth. As the economy continues to strengthen, Missourians can expect businesses and wages to continue current growth patterns.
| Year | Average Number of Firms | Change in Firms from Previous Year | Total Statewide Payroll | Change in Payroll From Previous Year | Average Annual Wage | % Change from Previous Year in Annual Wage |
|---|---|---|---|---|---|---|
| (In Billions) | (In Billions) | |||||
| 2004 | 158,393 | 1,822 | 77.61 | 2.95 | $35,040 | 3.20% |
| 2003 | 156,571 | 773 | 74.66 | 1 | $33,949 | 2.10% |
| 2002 | 155,798 | 2,143 | 73.65 | 0.56 | $33,261 | 1.90% |
| 2001 | 153,655 | 2,237 | 73.09 | 1.81 | $32,635 | 3.20% |
| 2000 | 151,418 | 118 | 71.28 | 3.79 | $31,614 | 5.00% |
| 1999 | 151,300 | 883 | 67.49 | 3.44 | $30,098 | 3.80% |
| 1998 | 150,417 | 3,563 | 64.05 | 3.71 | $29,002 | 4.40% |
| 1997 | 146,854 | 2,965 | 60.34 | 4.09 | $27,791 | 4.70% |
| 1996 | 143,889 | 2,864 | 56.25 | 2.96 | $26,537 | 3.70% |
| 1995 | 141,025 | 3,258 | 53.29 | 3.53 | $25,602 | 4.60% |
| 1994 | 137,767 | 3,026 | 49.76 | 3.14 | $24,477 | 3.20% |
| 1993 | 134,741 | 2,107 | 46.62 | 1.74 | $23,711 | 1.30% |
| 1992 | 132,634 | 538 | 44.88 | 2.55 | $23,414 | 4.70% |
| 1991 | 132,096 | 3,212 | 42.33 | 0.7 | $22,359 | 4.00% |
| 1990 | 128,884 | -- | 41.63 | -- | $21,508 | -- |
Source: MERIC Quarterly Census of Employment and Wages Program
