MERIC NEWS LETTER

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

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