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

Read More

Sikeston Jaycee Bootheel Rodeo kicks off tonight

SIKESTON, MO (KRCU) - The Sikeston Jaycee Bootheel Rodeo kicks off Wednesday night with a full night of rodeo action and entertainment by country music performers Big & Rich and Gretchen Wilson with Cowboy Troy.

The Rodeo is now in its 59th year and is organized as a volunteer effort by the Jaycees. All proceeds are donated to community organizations.

Cal Crader is the Jaycees Rodeo Chairman. He says the cooler temperatures and pleasant weather conditions will help attract visitors to Sikeston.

"Within 120 miles of us this summer there’s not a whole lot going on other than our event," Crader says. "We’ve got the best names in country names. And by being a member of the Wrangler Rodeo Tour, we continue to draw the best cowboys in the world."

The rodeo is the largest annual even in Sikeston.

Sikeston Chamber of Commerce Executive Director Missy Marshall says the rodeo provides a valuable economic boost to the region, even if it turns life a little upside down.

"The horse trailers started pulling in over the weekend. The livestock is coming in, the equipment is coming in, the cowboys are coming in, the tourists are coming in," Marshall says. "And that is a great thing to have happen every August. And it’s something that the community can count on and benefit from. We’re very happy and proud of our Jaycees for doing it."

The Sikeston Jaycee Bootheel Rodeo will begins Wednesday night and run through this Saturday. There will be live entertainment each evening.

Jacob McCleland, KRCU

Read More

Cape Girardeau real estate market shows improvements

CAPE GIRARDEAU, MO (KRCU) - The first two months of 2011 showed improvement for Cape Girardeua’s real estate market as compared to the same time frame in 2010.

Tom Meyer of Exit Reality says that property is selling for about 90 percent of its listed price. Over the past year, this ratio has stood between 80 and 85 percent. This could either be the result of sellers confronting reality and setting lower listing prices … or that buyers are approaching buyers’ demand.

Meyer says that media reports have overexaggerated the role of foreclosures. Or at least that’s the case for Southeast Missouri.

“We do have foreclosures. That came about because of some lending practices. That’s true. But it’s not overwhelming us. We are a very diverse, conservative community,” Meyer says.

Meyer says that properties listed under 75 thousand dollars are very active. First-time home buyers are keeping the 80 to 130 thousand dollar market strong. However, Meyer calls homes listed between 125 and 225 thousand dollars a ‘dead price range.’ Houses listed above 225 thousand dollars continue to be strong.

The average price for houses sold thus far in 2011 is about 140 thousand dollars. The average price of houses on the Cape Girardeau market is 175 thousand dollars.

These figures represent Cape Girardeau County, as well as northern Scott, southern Perry, and Bollinger Counties.

Jacob McCleland, KRCU

Read More