Quad Cities Region Trends Q1 2021

Key Takeaways

• Recovery in the Quad Cities region was uneven as COVID-19 mitigation measures continued and mass vaccinations started. Some sectors of the economy remained partially shutdown.
• Regionally, service industry growth became flat in Q4 2020 and did not recover significantly in Q1 2021.
• Retail shops had increased revenues with more people out shopping. Heightened consumer confidence with the availability of the COVID-19 vaccine led to some people returning to stores and not just using online shopping or curbside pickup. 
• Job growth continued to stagnate in the Quad Cities metro area, growing by 1% from December – March 2021. Throughout all industries the labor shortage, not only affecting our region but the nation as a whole, impacted businesses' ability to operate at profitable and/or efficient levels. This has spurred investigation and evaluation in more automation.
• Shipping container shortages and limited air freight capacity continued to disrupt supply chains and be key factors in manufacturers and consumers experiencing both delayed shipping times and high shipping costs.
• While it was still unclear what the future holds for the corporate office sector, there did seem to be a trend amongst regional companies that the post-COVID-19 future will lean more toward a hybrid version vs. full in-person or full remote environments.

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