Wichita Industry News and Developments provides a brief overview of statistical trends and major announcements by industry sector. The report covers the Wichita, KS MSA, which is comprised of Butler, Harvey, Sedgwick and Sumner counties.
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Economic variables occur at approximately the same time as the conditions they signify.
Economic variables that are considered to predict future economic activity.
Center for Economic Development and Business Research W. Frank Barton School of Business1845 Fairmount, Devlin HallWichita, KS 67260-0121 Phone: (316) 978-3225 Fax: (316) 978-3950 e-mail:
Jack Kleinhenz, Ph.D., chief economist for the National Retail Federation headquartered in Washington, D.C., will speak to the 35th Annual Wichita Area Economic Outlook Conference hosted by the Center for Economic Development and Business Research. The event will be held from 7:30 – 11:30 a.m. on October 9 in the Century II Convention Hall.
Kleinhenz is a frequent speaker on business and regional economic issues and is regularly called upon by local, national and international media, including the Financial Times, Bloomberg News, CNBC, Fox News, National Public Radio, The Wall Street Journal, USA Today and The Washington Post. In addition to his role with NRF, he is principal and chief economist of Kleinhenz & Associates, a registered investment advisory firm headquartered in Cleveland, Ohio, specializing in financial consulting and wealth management.
Kleinhenz is the current president of the National Association for Business Economics, the largest international association of applied economists, strategists, academics, and policy makers. He is also a contributing forecaster to The Wall Street Journal, USA Today, the Federal Reserve Bank of Philadelphia and the Federal Reserve Bank of Chicago, which recognized Kleinhenz for forecasting excellence.
Kleinhenz was a recent finalist for the 2014 Weatherhead School of Management Teaching Award. A graduate of John Carroll University, he earned his master’s degree and doctoral degree in economics from the University of Notre Dame.
Registration for the Economic Outlook Conference is now open, and tickets are $115. This price includes breakfast. Check the Center’s website often for updates about the conference, www.cedbr.org.
William S. Swelbar, executive vice president in charge of InterVISTAS Consulting firm’s Washington, D.C., office, will speak to the 35th Annual Wichita Area Economic Outlook Conference, hosted by the Center for Economic Development and Business Research. The event will be held from 7:30 – 11:30 a.m. on October 9 in the Century II Convention Hall.
Swelbar is a much sought-after speaker on the topic of air transport. In addition to his role at InterVISTAS, he is a research engineer in the Massachusetts Institute of Technology’s International Center for Air Transportation, where he is affiliated with the Global Airline Industry Program and Airline Industry Research Consortium.
Over the past 30 years, Swelbar’s work in the airline industry has focused on airline labor cost restructuring, regulatory issues governing air transport, communication strategy and support, and air service development on behalf of airports and communities of all sizes. He has represented many diverse interests in the industry, including airlines, airports, investors, manufacturers, and labor groups.
He has contributed articles to the Journal of Air Transport Management, The Wall Street Journal, USA Today, and other publications. His titles include “Trends and Market Forces Shaping Small Community Air Service in the U.S.”; “Modeling Changes in Connectivity at U.S. Airports: A Small Community Perspective”; and “Evolving Trends of U.S. Domestic Air Fares: The Impacts of Competition, Consolidation and Low Cost Carriers.”
In 2014, Wichita total nonfarm employment is expected to increase by 3,565 jobs, which implies the employment growth rate is anticipated to be 1.2 percent.
Read the updated Wichita forecast.
Nationally, real GDP growth was 2.6 percent in the fourth quarter of 2013, which is moderately strong growth, though a slowdown from the previous quarter. Strong growth in personal consumption expenditures and net exports were the key contributors to this growth. Government purchases continued to decline in the fourth quarter, and may continue to do so throughout 2014. Employment increased by 1.7 percent nationally in 2013. In both Kansas and the Wichita metropolitan area, employment grew by 1.2 percent in 2013.
Read the newly released forecast update.
Over the next few months, CEDBR will be releasing a series of articles about healthcare occupations. The first article, being released today, is on the topic of dental occupations. Employment, location quotient, and average annual wages are analyzed for three specific occupations: dentists, hygienists, and dental assistants. For comparison, data is provided for metropolitan areas in Kansas, the Midwest region, and a group of four metropolitan areas that most closely resemble Wichita in population, demographics and industrial mix. These are Akron, Ohio; Grand Rapids-Wyoming, Mich.; Greenville-Mauldin-Easley, S.C.; and Lancaster, Pa.
Read the complete article.
Average weekly hours of production workers can be used as a leading indicator, as in The Conference Board’s Leading Economic Index, or as a current economic indicator, as in the WSU Current Conditions Index. When used as a leading indicator, the movement over several months can be analyzed to identify a developing trend; whereas, the month-to-month variability can provide a snapshot of the current economy.
Read more about average weekly hours of production workers.
The unemployment rate for Kansas, as a whole, increased 0.3 percentage point from April to May. All of the Kansas MSAs experienced increases, ranging from 0.2 percentage point in Manhattan, Topeka, and Wichita, to a 0.3 percentage point increase in Lawrence. A slide presentation is available with additional employment and unemployment data for Kansas and its four metro areas.
The Consumer Price Index is used to calculate inflation, or the change in price of a basket of goods and services, as it impacts consumers; whereas, the Producer Price Index measures changes in selling prices, thereby expressing price changes from the perspective of the seller who produces a particular commodity.
A slide presentation updated with June 2014 data shows the Midwest inflation rate increased from May to June in urban metros, as well as in non-metro urban areas.
The Producer Price Index data shows that prices in the United States have increased from June 2013 to June 2014 for aircraft (1.8 percent), crude petroleum (5.4 percent), natural gas (12.3 percent), and slaughter livestock (20.3 percent). During that same time period, sorghum prices decreased 32.2 percent and wheat decreased 6.5 percent.
Access this slide presentation.
Learn more about the CPI.
Learn more about the PPI.
From April to May, the WSU Current Conditions Index increased 0.4 percent, and the Leading Index increased 0.5 percent. Both indices also increased from May 2013 to May 2014, with the Current Conditions Index growing 0.7 percent and the Leading Index increasing 1 percent. In addition, the Leading Index is forecasting a 0.45 percent increase in economic activity over the next six months.
Read a further analysis of the monthly Index activity.
Access Index data.