STRICTLY BUSINESS; LIFE ON THE JOB: OR IS IT ABOUT TIME FOR A NAP NOW?

Wake up and read this. ... Then you can nap.

Sleeping at work may not be so bad, some employers concluded.

To help employees with stress, Yarde Metals, a Bristol, Conn., metals distributor plans "nap space" for about 25 workers in a new facility, according to the Wall Street Journal.

A quick nap can rejuvenate, said Bruce Yarde, the company's president.

There have always been "closet nappers. ... It's time to bring it out," says William A. Anthony, professor of rehabilitation counseling at Boston University and author of a recent book, The Art of Napping.

Gould Evans Goodman Associates, an architectural firm in Kansas City, has plans for nap space in its offices.

Macworld Magazine of San Francisco has had a two-person nap room since 1986. Often you can't get in, said Shelly Ginenthal, human resource director.

Anthony says most people are not "sleep-deprived," but "nap-ready."

The 'Beige Report'

Residential construction in Missouri has picked up after a slow start during the first two months of the year, but it is remains below last year's levels.

Abnormally cool temperatures and inclement weather conditions have hindered the planting and emergence of spring crops in many areas.

Although clerical and construction workers are still in short supply, fewer reports of tight labor markets are being reported.

The St. Louis Federal Reserve Bank, in its most recent "Beige Book" summary, says the economy continues to grow at a moderate pace in the Midwest.

The "Beige Book" is a report on economic developments throughout portions of seven states, including Missouri. The book is not an in-depth report, but the Federal Reserve uses it as a tool to determine monetary policy.

The St. Louis Federal Reserve Bank's 8th District has branches in Little Rock, Ark.; Louisville, Ky.; and Memphis, Tenn. The district includes Arkansas, eastern Missouri, southern Illinois and Indiana, western Kentucky and Tennessee and northern Mississippi.

Real estate pickup

Residential construction, one- and two-family houses and apartments, is down 15 percent for the first quarter in Missouri, at $531,911,000, from $625,651,000 a year ago. But March totals were almost half those of the first two months of the year, at $233 million.

Residential real estate markets also saw a mild pickup throughout the district. Nine of the district's 12 metropolitan areas had increases in permits issued in February. Again, permit levels in most areas lag their year-ago levels.

Construction in many areas along the Ohio and Mississippi rivers have been delayed because of flooding.

Meanwhile, however, commercial and real-estate agents continue to report generally strong markets. In particular, there is increased activity in multi-family housing construction, especially apartment complexes. Office development is also soaring in many areas.

On the banking and financial front, total loans outstanding at six of the large district banks declined 0.6 percent between mid-February and mid-April compared to a 2 percent increase during the same period a year ago.

Declines in real-estate loans other than home equity loans were responsible for the drop. Real-estate loans declined 2.6 percent between mid-February and mid-April, while business loans were up 0.6 percent. Consumer loans revealed few changes.

Spring planting slowed

Early reports from farmers suggest the abnormally cool temperatures and wet weather have delayed spring planing throughout the district. An early spring freeze has damaged some fruit orchards as well as some wheat fields in low-lying areas.

Most of the corn and some cotton have been planted in Southeast Missouri.

Preliminary estimates of flooding, storms and tornado damage in Arkansas, Tennessee, Kentucky and Southern Illinois are sketchy, but FEMA has paid more than $21 million on about a quarter of the claims filed.

Kentucky residents, the report said, have received about 75 percent of the total payouts. More than 6,000 claims for unemployment insurance because of storm damage have been received in the affected states.

Although most contacts continue to report steady growth in sales and employment, some have noted a moderate slowing of growth.

Fewer reports of tight labor markets have been received than previously. Construction and clerical workers, including bank tellers and loan processors, are reported to be in short supply. A strike at a Chrysler engine plant in Detroit idled about 2,500 workers at the pickup truck plant in St. Louis, and slowed production at a number of manufacturers that produced truck and auto components. Although a tentative agreement has been reached, it is unclear when all workers will return to work.

Many regional suppliers to the auto industry are experiencing increases in demand, leading to additional hiring. Several auto suppliers are building new plants near the new Toyota plant in Indiana.

New jobs for St. Louis

McDonnell Douglas got the go-ahead to start production on a new Navy contract for fighter jets, securing about 7,000 St. Louis jobs for the next 20 years.

The apparel industry, however, continues to close plants and lay off workers, generally because of fierce competition from offshore firms. Two Arkansas shirt factories are closing, eliminating 365 jobs. Another 100 jobs at a stitching factor are being eliminated in Arkansas, and a flannel shirt factory in Indiana is laying off half its workforce, about 160 people.

Reports from several medium to large district companies provide little evidence of an acceleration in the rate of wage increases. Contacts expect wages to increase between 3 and 4 percent this year.

Newspaper industries report wood prices are up 7 percent from last year, the trucking industry reports that fuel prices are up, and some contacts expect steel prices to increase later this year.

Most contacts, however, still cannot pass these increases along to consumers because of competition.

B. Ray Owen is business editor of the Southeast Missourian.