Economy

Well, the new statistics are out and we are at or below record numbers for our area.

We recently received October unemployment numbers as they always run about 30 days behind. According to the Missouri Economic Research and Information Center (MERIC), Cape County has a 1.9% unemployment rate. We have a workforce of 40,925 and 40,135 of them are working. Scott County has dropped to 2.4% and Perry County is at 1.7%.

Holiday shopping season is upon us. November and December are huge months for the retail industry. You play an important role in the success of our retail businesses. I realize it is very easy to order from Amazon or some other mega online retail source. But before you do so, please consider what the local shops have to offer.

The newest segment of economic development is alive and well in the Cape Girardeau area.

For a long time, economic development was all about recruitment of new business and industry – period. Then the importance of business retention and expansion was realized and tourism entered the discussion resulting in economic development efforts being described as a three legged stool.

This is very hard to accurately gauge but very important to the economic success of any area.

Business climate is what I’d like to address this week. It is comprised of several different things and how they interrelate. An area’s business climate is the general economic environment related to government, politics, business activity, labor union relationships, tax policy, inflation, lending institutions, workforce, and more.

Wednesday, October 3, was a big day for several local manufacturers and many local students.

We’ve been talking about the challenges facing local manufacturers in their quest to hire workers. Manufacturing Day was another step in the right direction. It is a statewide event held at regional campuses. The Cape Girardeau Career and Technology Center served as host to seven area companies and more than 250 students from grades seven and eight, and high school juniors and seniors.