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BusinessApril 10, 2000

It's still April and final exams are yet to be taken, but many college students are looking to the end of another chapter in their lives, and preparing for yet a new one -- of continuing their education to the next level or starting a career. If the choice is to begin a career, the student is a hot commodity. Tight labor markets across the nation are forcing employers to attract and keep good workers. This is one of the best times in decades to be entering the work force...

It's still April and final exams are yet to be taken, but many college students are looking to the end of another chapter in their lives, and preparing for yet a new one -- of continuing their education to the next level or starting a career.

If the choice is to begin a career, the student is a hot commodity. Tight labor markets across the nation are forcing employers to attract and keep good workers. This is one of the best times in decades to be entering the work force.

With unemployment figures at the lowest rates reported in more than 25 years, it is easy to see why the nation's labor market has become tight.

The Missouri Department of Labor and Industrial Relations has reported that the nation's unemployment rate as of March 2000 was 4.4 percent while Missouri's unemployment rate held steady at 4.0 percent, well below the national average.

This is the second straight year of the "tight labor market era." College students find themselves preparing resumes and going on job interviews at the same time they're cramming for finals.

As the weeks narrow down to finals, employers will visit campuses to recruit the best students before graduation.

According to an annual survey conducted by the National Association of Colleges and Employers, forecasts indicate the number of jobs available to college graduates this year in the Midwest region will be up as much as 10 to 15 percent.

Some students already have jobs. They knew going into their senior year a job was waiting.

Many economic researchers report starting salaries are expected to increase for workers with good skills.

Some 83,900 Missourians are estimated to have been unemployed in February, the latest month labor statistics are available. The number of employed Missourians changed slightly over the month, increasing by about 800 to 2,802,200 people.

The biggest changes were in the education sector as schools and colleges were back in full swing following semester breaks during the January reference week.

Construction employment was down by 2,400 jobs, perhaps reflecting February's weather conditions. Manufacturing employment decreased by 3,600 jobs, including 900 in the aircraft industry. A temporary layoff in the automobile industry also contributed to this monthly decline.

Employment has been good in Cape Girardeau during the past year, averaging about 97.3 for 1999.

In February, 37,446 workers were on the jobs in Cape Girardeau County, a 97.5 employment rate. Only 977 of the 38,423 work force were not working.

Unemployment has been under the 2 percent mark the past six months, with a low of 1.4 percent in November and December. February unemployment was 4.1 percent in Scott and Bollinger counties.

Unemployment rates remained relatively stable in most Southern Illinois counties. Seasonal layoffs caused a slowdown in construction.

Unemployment ranged from 4.1 percent to 8.9 percent in the immediate area counties. Jackson County recorded the lowest unemployment rate at 4.1 percent, and Union County recorded 8.9 percent, which was down almost a full percentage point from January.

Other area counties were Pulaski County at 8.4 percent, Massac County at 4.4, Union County at 8.4, Alexander County at 8.5 and Johnson County at 8.2.

Super dollar store

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Fred's Super Dollar Store will open in the Cape Girardeau market in mid-May.

Fred's, headquartered in Memphis, Tenn., stocks more than 12,000 items, including nationally recognized brand name products and "Fred's" label products, consisting of health and beauty aides, paper and cleaning supplies, automotive and hardware, pet supplies, some apparel seasonal items, home decorations and pharmaceutical supplies.

The new store will hold its grand opening the weekend of May 19, said a Fred's Super Dollar officials. "Actually, the store will open a few days earlier."

Fred's was founded in 1947. The group now has 318 Fred's Stores, with 180 pharmacies and 40 freestanding Xpress Pharmacies.

Seven Fred's Stores are in Southeast Missouri at Dexter, Doniphan, Hayti, East Prairie Kennett, Poplar Bluff and Portageville.

Catching up

Cape Girardeau may be in line for two new restaurants this year:

* A Golden Corral Steak Restaurant.

* A Bob Evans Restaurant.

"We're looking at the Cape Girardeau market now," said Larry Tate of Golden Corral, headquartered in Chapel Hill, N.C. "We're looking a 15 new locations in Missouri."

Starting this week, Golden Corral, a fast-growing family steakhouse and buffet, will meet with prospective franchisees in St. Louis, Kansas City and Springfield. Other sites include Cape Girardeau, Rolla, Joplin, Warrensburg and Jefferson City.

Golden Corral has 17 restaurants in Missouri.

Robert Nevadomski, director of franchise development for Golden Corral, said studies of Missouri have been completed in several areas. The largest Golden Corral restaurants have about 11,300 square feet of floor space and seat about 450 each. The restaurants offer steaks and a buffet that includes chicken, ham, roast beef and turkey.

In 1999 Golden Corral served more than 139 million people and recorded records sales of $899 million. There are 452 Golden Corral restaurants.

The first Golden Corral opened in Fayetteville, N.C., in 1973.

Bob Evans Restaurant will locate near Interstate 55 and Route K.

Bob Evans Farms Inc. owns and operates 432 full-service family restaurants in 21 states under the Bob Evans and Owens Family Restaurant names. Bob Evans Restaurants are principally in the East, North, Central, mid-Atlantic and Southern states while Owens Family Restaurants operate in Texas.

Bob Evans Farms was founded in 1953. Daniel E. Evans, chairman of the board and chief executive officer since 1971, leads the company and its more than 32,000 employees.

Restaurants provide more than 60 percent of the Bob Evans Farms Inc. income. Bob Evans Farms also produces sausages and other food items under the Bob Evans and Owens brand name. Frozen food is the company's newest venture, with 13 frozen entrees on the market.

B. Ray Owen, business editor of the Southeast Missourian, may be reached at 335-6611, ext. 133 or by e-mail at rowen@semissourian.com.

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