Two major mergers proposed in St. Louis would create a glut of bankers chasing a dwindling number of jobs.

But analysts and other observers say that with its low unemployment rate of 3.8% and a growing number of other financial services businesses, the St. Louis area could absorb the 1,200 to 2,000 jobs expected to be cut from Boatmen's Bancshares and Mark Twain Bancshares.

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