The St. Louis Metro Area experienced steady growth in the first quarter of 2017. The unemployment rate is currently at 4.1% which is 70 basis points lower than the national rate of 4.8%. St. Louis created 73,800 private jobs over the past 36 months, 20.7% of which were office using jobs. Since December, an additional 4,200 office using jobs have been created. This trend will continue in 2017 with recent announcements such as Microsoft’s plans to locate a regional tech hub within the Cortex at the 4200 Duncan Avenue building creating 150 jobs. As more jobs are created, St. Louis is seeing an uptick in private housing starts and the number of new single family housing permits increased by 15% since 2016, reaching levels not seen since before 2009.
Source : Cushman & Wakefield