Economic gains

Sunday, May 2, 2010

There are signs that the economy is improving, and the Cape Girardeau area appears to be benefiting from the turnaround. A recent front-page centerpiece story in USA Today was headlined: "Signs of a turnaround: A bumpy recovery with hope in Midwest, South."

A newsletter from a respected trend-watcher said smaller cities are experiencing more economic improvement than many large metropolitan areas. A recent analysis from the federal government ranked the Cape Girardeau area as one of the bright spots nationally.

Home sales have seen a spurt in recent weeks as buyers took advantage of federal tax credits that expired at the end of April. And real estate prices are edging back up.

The Spring 2010 edition of Southeast Missouri Business Indicators published by Southeast Missouri State University also sees signs that "Southeast Missouri is starting to show signs of recovery." But the same publication pointed to high unemployment numbers, a national trend that most analysts expect won't see much improvement until next year or beyond. For those without jobs, positive economic trends don't help with mortgage payments. On the positive side, however, these trends should create demand that will lead to more hiring.

At last, good news seems to be overtaking the economic glum of recent months.

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