Thursday, September 22, 2011

Unemployment down in Southeast Missouri

CAPE GIRARDEAU, MO (KRCU) - Unemployment fell in Southeast Missouri during the 2011’s second quarter, as compared to the same time period last year, according to Southeast Missouri State University’s Center for Economic and Business Research.

The unemployment rate fell by half a percentage point from 9.6 to 9.1 percent.

Personal income is rebounding, following negative or stagnant rates of change during the recession, according to Southeast Missouri State’s Bruce Domazlicky.

"From our estimates, over the last couple of quarters, income growth is closer to 4, 4 and a half percent, which is about normal. So that’s looking a little bit better. And that’s to be expected with employment being up," Domazlicky said.

Cape Girardeau County’ unemployment ticked upward to 7.3 percent, which is still below the Southeast Missouri and national averages.

Perry County has the lowest unemployment rate in Southeast Missouri at 6.6 percent.

"I think part of it is they have a good industrial base, a good job base," Domazlicky said about Perry County. "They don’t have a real big labor force, and so I think there’s a pretty good balance between the number of jobs that are available and the people that want to work. That has generally kept the unemployment rate very low there."

Despite the modestly good numbers, Domazlicky cautions that Southeast Missouri is not immune to the national economic stagnation and will ultimately follow national trends.

Jacob McCleland, KRCU


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