(KMOV.com) -- Despite things rallying on Wall Street, Thursday saw a depressing economic update for the region with the announcement of layoffs in St Louis at a large trucking firm.
YRC Freight, located in Soulard, is going through restructuring and in paperwork filed with the state, they say as many 490 jobs could be lost.
One worker said it will be the drivers and dock workers with the least seniority who will go, either to unemplyment or to a new location.
Denny Voleman, president of the St. Louis County Economic Council, says even as signs of a recovery occur, the St. Louis area may still see a mixed bag of economic news.
“Even in the absolute best of economic times we’re still going to see specific companies or even specific industries that are growing more slowly or actually losing jobs,” he said. “So that is just part of the landscape.”
The region suffered a staggering job loss with the closing of two auto plants with Chrysler and Ford, which left a longer fight to make a comeback.
“We’re talking in the realm of thousands of jobs being added by some of our major companies as well as the growth in entrepenurs,” said Coleman. “And we’re seeing it in bio sciences and information technology.”
How fast those jobs appear is still the big question as the area struggles to gain traction and join the recovery.