In 2018, Kansas total nonfarm employment is projected to increase by 0.1 percent, adding approximately 1,500 jobs, with a range of expected growth between negative 0.3 percent and positive 0.5 percent. Wichita total nonfarm employment is forecast to increase by 1,065 jobs, growing 0.4 percent, with an expected growth range between 0.1 percent and 0.6 percent.
Kansas employment declined by 0.8 percent in the last twelve months, while Wichita employment increased by 0.5 percent in the same period.
On Thursday, October 5, 2017, The 38th Annual Kansas Economic Outlook Conference attracted around 800 business, community, and government leaders. Speakers included, Jeremy Hill with CEDBR (State & Local Employment Outlook and Data Highlights), Joe Quinlan with Bank of America (National Outlook), Carolyn Lee with The Manufacturing Institute (Manufacturing Trends), and Ken Kriz with Wichita State University (Local & State Government Insights). Deb Farris from KAKE News was the event hostess.
In addition to these industry speakers, there were three separate panel discussions which included: Tom Minton from Creekstone Farms (Exports Panel); Tim Penner from Harper Industries, Inc. and Jared Peterson from Vermillion Inc. (Manufacturing Panel); and Kathy Sexton from the City of Derby, KS and Col. David Weishaar from McConnell Air Force Base (Government Panel).
Video recordings of the presentations will be available within the next few weeks, however, presentation slides for each speaker and a list of event attendees can be downloaded at www.eoc2017.cedbr.org.
Predict what the closing value of the S&P 500 will be on Friday, August 31, 2018.
All submissions for this challenge must be received by the end of the day on Sunday, November 5, 2017. Those wishing to participate need to submit their prediction at www.SP500.cedbr.org. The individual with the closest prediction will receive a free registration to the 2018 Kansas Economic Outlook Conference, as well as stage recognition at the event for his/her company.
At the time that this opportunity was announced, CEDBR also unveiled the first student winner of this contest. Eleven students at Wichita State University competed in determining the closing value of the S&P 500 on September 1, 2017, yielding a winning prediction that was only $26.55 off from the actual closing value of $2,476.55. Hongchi “Abby” Guo, a graduate student pursuing a Master’s in Economics, was recognized on stage for her submission.
“It is exciting to see Wichita State University Students applying their academic experiences. Challenges like these not only hone their skills, but will provide a new forecasting tool.” comments CEDBR director, Jeremy Hill.
Cost of Living Miscellaneous Goods and Services, 2016 Annual Average
The Cost of Living Index, from The Council for Community and Economic Research (C2ER), measures regional differences in the cost of consumer goods and services, excluding taxes and non-consumer expenditures, for professional and managerial households in the top income quintile.
The three Kansas metropolitan areas included in the index, averaged 1.6 percent below the national average when weighted by population.
To subscribe to the Cost of Living Index report, or to learn more about The Council for Community and Economic Research,visit their website.
Kansas: State and Metropolitan Area Production, 2016
Real gross domestic product by state and metropolitan area is a measure of the area’s production of goods and services. It represents the final market value, based on national prices, of all goods and services produced in the area in a given year.
Overall, the state of Kansas had an increase in Gross State Product between 2015 and 2016 of 0.2 percent. However, each of the metropolitan areas within the state had a different total growth rate in the production of goods and services.
From June to July, the WSU Current and Leading Indices remained the same.
The U.S. and Midwest inflation rates both increased from October 2016 to November 2016.
The unemployment rate for Kansas, as a whole, saw no change from September 2016 to October 2016. The Wichita, Topeka, and Manhattan MSAs had no change in the unemployment rate. Lawrence did see a slight decrease of 0.1 percentage points.
Current Unemployment Rate
Center for Economic Development and Business Research
1845 Fairmount | Wichita, KS 67260-0121 | Phone: (316) 978-3225 | FAX: (316) 978-3950 | CEDBR@wichita.edu