Mark your calendar! CEDBR will be hosting a webcast in which our director, Jeremy Hill, teaches attendees how to locate and process data from several public and private resources online. The event will take place in two one-hour sessions, held Monday and Tuesday, April 20-21, 2015 starting at 9 a.m. each day.
Are you looking for data for a business plan, expansion opportunity, or a new product? Are you trying to explore a market or review trends in order to develop a budget and analyze cost factors for your strategic plan? This webcast may be a helpful resource for you.
Register at www.webcast.cedbr.org.
The Center for Economic Development and Business Research (CEDBR), with funding from the Greater Wichita Economic Development Coalition, recently conducted a study to estimate the skill level of the employed workforce in the Wichita metropolitan statistical area (MSA) and other MSAs. Data on the occupations of the employed Wichita MSA workforce were matched to the skill and knowledge levels required to adequately perform each occupation.
The skill category “Service Orientation” had the highest number of Wichita workers in the top national quartile. In addition, Wichita workers ranked highly in the negotiation, persuasion and coordination skills. Among the knowledge categories, the Wichita workforce had the most workers in the top national quartile of the “Food Production” knowledge category.
Review major industry announcements by industry sector from 2014 and an overview of statistical trends within each sector for the fourth quarter. Industry news is presented for industries such as mining and construction, manufacturing, wholesale and retail trade, transportation, information services, and leisure and hospitality, among others.
Access the full report.
Access the industry employment slides.
The Council for Community and Economic Research released the annual average Cost of Living Index for 281 urban areas for 2014. Wichita’s overall Index value was almost 9 percent below the national average of 100. The most expensive urban area in which to live was New York (Manhattan), N.Y., with an Index value more than twice that of the national average. The least expensive urban area was Harlingen, Texas, which was nearly 19 percent below the national average.
To subscribe to the Cost of Living Index report, or to learn more about The Council for Community and Economic Research, visit their website.
Wichita and similar cities have seen large changes, mostly declines, in their employment-population ratio over the last decade. Many have been more strongly affected by the 2008 recession than the rest of the United States. The employment-population ratio is a measure of labor market strength; it is calculated by dividing the number of employed workers in an area by the total civilian noninstitutionalized population aged 16 and over in that region. Typically, the employment-population ratio will increase during expansionary periods and decline during recessionary periods.
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 January 2015 data shows the Midwest inflation rate decreased in both urban metros and non-metro urban areas from December to January.
The Producer Price Index data shows that prices in the United States have increased from January 2014 to January 2015 for aircraft (1.6 percent) and slaughter livestock (8.4 percent). During that same time period, crude petroleum decreased 54.5 percent, natural gas 30.1 percent, sorghum 7.5 percent and wheat decreased 9.3 percent.
Access this slide presentation.
Learn more about the CPI.
Learn more about the PPI.
The unemployment rate for Kansas, as a whole, increased 0.1 percentage point from November to December. The Kansas MSAs experienced increases, also, with a 0.1 percentage point increase in both the Wichita MSA and Manhattan, to 0.2 percentage point in the Topeka MSA. The Lawrence MSA experienced no change in its unemployment rate.
A slide presentation is available with additional employment and unemployment data for Kansas and its four metro areas.
From November to December, both the WSU Current Conditions Index and the Leading Index decreased, 0.3 percent and 0.6 percent, respectively. The change from December 2013 to December 2014 in the Current Conditions Index shows a decrease of 0.6 percent and the Leading Index shows a decrease of 0.2 percent. In addition, the Leading Index is forecasting a 0.66 percent increase in economic activity over the next six months.
Read a further analysis of the monthly Index activity.
Access Index data.
What really determines the price of oil? Anthony May, assistant professor of finance at Wichita State University’s W. Frank Barton School of Business, explored this topic with co-authors from the University of Oklahoma and the U.S. Energy Information Administration. The results were published in a paper titled “Factors Influencing Oil Prices: A Survey of the Current State of Knowledge in the Context of the 2007-08 Oil Price Volatility.” The goal of Dr. May’s research was to begin the discussion of how price formation, volatility, hedging, and speculation affect the global price of oil. This research project is an important piece of the oil price puzzle.
WSU's Center for Entrepreneurship and Meritrust Credit Union present the 2015-2016 Business Booster Series. Formulated for the self-made business owner and fortified with the knowledge of fellow business mavericks, these three-hour workshops are a fast-acting dose of practical know-how you can immediately put to use to beef up your business' bottom line.
Supercharge your success. Make your reservations today by calling (316) 978-3000 or visit www.wichita.edu/BusinessBooster to learn more.
Questions? Please contact Wendy Veatch, Director of Outreach Programming, at (316) 978-5219 or Wendy.Veatch@wichita.edu.
Center for Economic Development and Business Research
2nd Floor, Devlin Hall
Wichita, KS 67260-0121
Phone: (316) 978-3225
FAX: (316) 978-3950
CEDBR has conducted a study to estimate the skill level of the employed workforce in the Wichita MSA and other MSAs. Data on the skill and knowledge levels required to perform various occupations will be provided in the following series of eConnection articles:
High-Level Skills in the Wichita Workforce
Aerospace Production Skills in Aerospace Manufacturing Communities (March 2015)
High-Level Engineering Skills for Aviation Manufacturing Communities (April 2015)
High-Level Information Technology Skills in Midwestern Communities (May 2015)
Health Care Practitioners' Skills in Midwestern Communities (June 2015)
The world wastes $400 billion in food every year, CNN Money, February 2015
At last, a proper recovery, The Economist, February 2015
Pharmacy Occupations Employment Above the National Average in Wichita Area
Therapy Employment Trends
General Aviation Manufacturing Trends
Physical Therapy Employment Trends
County Employment-Population Ratios Across Kansas
Physicians and Physician Assistants Employment Trends
Industry Performance Examined in Slide Presentation
Current Index Improved Slightly Between October and November
Measuring Economic Diversification
Serving the Community Well: The Economic Impact of Wichita's Health Care and Related Industries
Producer Price Index Increased for Four of the Six Industries Measured
Unemployment Increased Across Kansas and Kansas Metros
Bicultural identity and economic engagement: An exploratory study of the Indian diaspora in North America
Average Weekly Hours Serve as Economic Indicator
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