Each spring the St. Louis Business Journal lists the region’s Largest Employers.
Their June 7 – 13, 2019 issue ranked employers by number of local employees.
Just two of the top ten spots were held by public companies: eight spots went to non-profit and government operations.
And, while 11 of the top 25 were commercial concerns, some – Schnucks, Imo’s Pizza, Target and Dierbergs – have mostly part-time employees.
St. Louis Business Journal Top 10 Employers
As of 4/1/19
BJC HealthCare
Mercy
Washington University
Being Defense
SSM Health
Scott Air Force Base
Schnucks
Archdiocese of St. Louis (includes school teachers)
City of St. Louis
St. Louis University
Yes, health care is a vital industry and major universities enrich a region.
Unfortunately, it’s hard to build an economy with non-profits and a lot of part-time jobs.
Traditionally, major for-profit companies propel wages, wealth and growth. They set the stage for a vibrant economy. For example, non-profits tend to lag behind commercial concerns in their wage and benefit packages. (During my 30+ years in local non-profits I was never covered by any organization’s health or pension plan.) True, an emergency room nurse at big Barnes probably doesn’t qualify for food stamps but many of those who cook and clean there do.
Remember, the trend continues to be St. Louis area commercial concerns getting absorbed by others. Cigna swallowed Express Scripts, Monsanto disappeared into Bayer, and even I’ve heard rumors that Centene – a for-profit which makes most of its bucks by running Medicaid programs – is in several sets of crosshairs.
So, it wasn’t a surprise that when The New York Times [Sunday, May 26, 2019] ranked CEO pay, with two pages of very small type, just one St. Louisan – David Farr at Emerson Electric – made the list. (Oh yes, everyone on the list had Total Compensation of at least $14.5 million in the past reporting year. )
Now, I’m sure many communities can find happiness with an economy dominated by non-profits, government units and subsidiary operations of major commercial companies. I just don’t think they can grow.
That’s St. Louis’ reality. We’re becoming more and more a place to be from, not a place to go to.
How do we reverse that?
Well, we now know that throwing tons of tax subsidies at industry doesn’t make an impact. Missouri continues to lower corporate tax rates without moving the needle. Several Republican governors ago the decision was made to starve schools and slash supports for struggling families and that hasn’t bettered the state.
In coming months we can expect a lot more negative national press over Missouri’s stand on abortion and the prevalence of murder in the City of St. Louis.
The answer is probably out there. Let’s hope someone finds it soon.
Glenn