Unemployment numbers reach new low

Reports of the lowest unemployment rates since before the recession are widespread, and similar improvements can be seen locally.

Cape Girardeau County's unemployment rates were 4.5 percent in November and 4.3 percent in October -- down more than 1 percentage point from the same time last year and the lowest since 2008, according to the latest figures from the Missouri Department of Economic Development. Many local percentages also came in below the most recent statewide average unemployment rate of 5.6 percent and nationwide rate of 5.8 percent.

Perry County saw a low 3.5 percent rate in October that hasn't been matched since May 2007. The county's November rate rose slightly to 3.7 percent.

A continuing expansion for auto parts manufacturer TG Missouri may be partially behind the improvement, said Chauncy Buchheit, executive director of the SEMO Regional Planning Commission, which promotes and monitors economic development in a 13-county area in Southeast Missouri.

Robinson Construction, a Perryville, Missouri, company that builds manufacturing facilities, also reported reaching a growth milestone in November, when it processed more than 500 worker paychecks for the first time in company history, making it the third-largest employer in the county. The company is working on the TG Missouri expansion.

The Southeast Missourian reported in July that TG Missouri planned to hire 60 people by March.

Perry County was one of fewer than 20 counties in Missouri that had an unemployment rate below 4 percent in November.

Jobless rates also have declined in Bollinger and Scott counties when compared to the same time last year -- down 0.4 points to 5.8 percent and down 0.7 points to 5 percent, respectively. In October, Scott County's unemployment rate was 4.7 percent, a level not seen since 2006.

In Cape Girardeau, jobless rates are additionally down compared to the same month last year. October 2013's unemployment rate in the city was 6.1 percent; this year's was 4.3 percent. In November 2013, the rate was 5.8 percent; this November it was 4.6 percent. The city hasn't had unemployment rates in the 4 percent range for two consecutive months since 2007, according to data from the U.S. Bureau of Labor Statistics.

Overall, the state added 4,500 non-farm payroll jobs in November, and 42,200 during the past year, the department of economic development recently reported. Manufacturing, professional and business services, transportation, warehousing and utilities were among the industries experiencing the most growth.

Buchheit said the lower unemployment rates are a good indicator of an improving economy, yet just one measure of the job market's health. Economic development representatives also examine the actual number of people employed when making comparisons.

"A lot of times you have the unemployment rate going down, but don't necessarily have the number of people employed going up," he said. "That's always a number that we want to look at pretty close."

In a combined total for Bollinger, Cape Girardeau, Perry and Scott counties, 1,913 more people were employed in November 2014 than in November 2013, according to figures from the Missouri Economic Research and Information Center.

eragan@semissourian.com

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