The unemployment rate for Kansas, as a whole, increased 0.8 percentage point from December to January. All of the Kansas MSAs experienced a 1 percentage point increase, except Manhattan, Kan., which increased 1.1 percentage points. 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 February 2014 data shows the Midwest inflation rate increased from January to February for both urban metros and non-metro urban areas.
The Producer Price Index data shows that prices in the United States have increased from February 2013 to February 2014 for aircraft (2.2 percent), crude petroleum (2.2 percent), natural gas (72.9 percent), and slaughter livestock (11.6 percent). During that same time period, sorghum prices decreased 36 percent and wheat prices decreased 10.6 percent.
Access this slide presentation.
Learn more about the CPI.
Learn more about the PPI.
Earlier this year, The Council for Community and Economic Research, known as C2ER, released its 2013 Annual Average Cost of Living Index report. The data in that report represents the unweighted average of data accumulated in the three quarterly pricing events of 2013. Among the 308 urban areas that participated during the year, the after-tax cost for a professional/managerial standard of living ranged from more than twice the national average in New York (Manhattan), N.Y., to almost 19 percent below the national average in Harlingen, Texas. Wichita’s annual average Index value was 92, 8 percent below the national average.
With the flu season continuing in many parts of the United States, C2ER recently examined the prices of orange juice and Advil across the country. The most expensive place to buy orange juice was in Hilo, Hawaii, at a price of $7.19. The least expensive place was Kalamazoo, Mich., at only $2.68 for a comparable orange juice product. Wichita’s price was $3.49, the same price as the average for the 308 urban areas.
The most expensive place to buy Advil was in Orlando, Fla., at a price of $15.73; whereas, the least expensive place was Carbondale, Ill., at $6.00. Wichita’s price was $8.51, nearly $1 below the average price of $9.50 for the 308 urban areas.
To learn more about C2ER, or to subscribe to the quarterly Cost of Living Index, click here.
From December to January, the WSU Current Conditions Index increased 0.1 percent, and the Leading Index also remained relatively stable. In addition, the Current Conditions Index showed improvement from January 2013 to January 2014, increasing 1.3 percent. The Leading Index increased as well during that time period, rising 1.4 percent.
Read a further analysis of the monthly Index activity.
Access Index data.
Center for Economic Development and Business Research
2nd Floor, Devlin Hall
Wichita, KS 67260-0121
Phone: (316) 978-3225
FAX: (316) 978-3950
Employment-Population Ratio in Wichita and Peer Cities
The employment-population ratio is a measure of labor market strength. It is calculated by dividing the total number of employed workers in a geographic area by the total civilian non-institutionalized population, age 16 and over, in that same area. A CEDBR report uses this methodology to compare ratios for counties that house cities comparable to Wichita.
Millennials in Adulthood: Detached from Institutions, Networked with Friends, Pew Research Center, March 2014.
diversitydatakids.org, The Heller School for Social Policy and Management, Brandeis University, March 12, 2014.
Science and Engineering Indicators 2014, National Science Board, National Science Foundation.
Three Key Manufacturing Trends in a Pivotal Year, Karen Lellock, Manufacturing Innovation Blog, Powered by the Manufacturing Extension Partnership, Feb. 6, 2014.
The Rising Cost of Not Going to College, Pew Research Center, February 2014.
Beyond GDP: What the Measure of Economic Performance Misses About Economic Performance, Diane Coyle, Foreign Affairs, Council on Foreign Relations, February 16, 2014.
Global Risks 2014, Ninth Edition, World Economic Forum in collaboration with Marsh & McLennan Cos.; Swiss Re; Zurich Insurance Group; National University of Singapore; Oxford Martin School, University of Oxford; and Wharton Risk Management and Decision Processes Center, University of Pennsylvania.