We are down to the wire but still accepting registrations for this week’s Wichita Industry Research Exchange on the topic of the aging workforce in manufacturing. Sign up for the event at www.wire.cedbr.org.
CEDBR has also released a study on Wichita’s regional export opportunities to surrounding metropolitan areas. The project investigated the potential export markets for intermediate goods in eight major nearby metropolitan areas: Denver, Kansas City, St. Louis, Oklahoma City, Tulsa, Dallas, Houston, and San Antonio. Wichita has a diverse set of goods-producing sectors that are in demand as inputs to these nearby metropolitan areas, and two sectors in Wichita that are demanded consistently across metropolitan regions are the coating and engraving sector and the machine shop sector.
Read the complete report.
Center for Economic Development and Business Research
director, Jeremy Hill, was part of coordinating two recent economic development webcasts.
The first webcast addressed the Bureau of Economic Analysis bringing back the BE-13 survey, a survey of foreign direct investment. The data will likely become a valuable tool in understanding regional and state economies. The presentation, given by Amanda Budny, Chief of the New Foreign Investment Section at BEA, included the following key points:
· Timeline of BE-13
· Overview of investment transactions
· Data collected
· Expected data to be publishedWatch the webcast.
The second webcast was also presented by the Bureau of Economic Analysis (BEA). BEA produces several measures of economic activity at the state, county and metro-area levels. This webcast provided a brief overview of each of these measures, as well as a detailed tour of the regional section of BEA’s website. The webcast teaches the best way to access the full range of regional economic statistics, including gross domestic product, personal income, and the new measures of regional price parities and personal consumption by state. The webcast was presented by Nicholas Empey, chief of the DAS Group, Regional Economics Directorate at BEA.
Watch the webcast.
In the modern business world, having a highly skilled workforce has become increasingly important to economic success. 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.
The study highlights some of Wichita’s greatest skill and knowledge categories, which includes the highest average ranking of the ten MSAs across all ten selected skill and knowledge categories, while Savannah and Oklahoma City have the second and third highest average rankings.
Read a summary.
The unemployment rate for Kansas, as a whole, decreased 0.1 percentage point from January 2015 to February 2015. All of the Kansas MSAs experienced decreases, also, with a drop of 0.2 percentage point in the Wichita, Topeka and Lawrence MSAs, and a 0.4 percentage point drop in the Manhattan MSA.
A slide presentation is available with additional employment and unemployment data for Kansas and its four metro areas.
View the slide presentation.
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 March 2015 data shows the Midwest inflation rate increased in both urban metros and non-metro urban areas from February to March.
The Producer Price Index data shows that the price in the United States has increased from March 2014 to March 2015 for aircraft (1.3 percent). During that same time period, prices decreased for slaughter livestock (6.4 percent), crude petroleum (54.9 percent), natural gas (46.3 percent), sorghum (5.6 percent) and wheat (20.1 percent).
From January to February, both the WSU Current Conditions Index and the Leading Index increased 0.2 percent. The change from February 2014 to February 2015 in the Current Conditions Index shows an increase of 0.9 percent and the Leading Index shows an increase of 0.7 percent. In addition, the Leading Index is forecasting a 0.31 percent increase in economic activity over the next six months.
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
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
High-Level Engineering Skills for Aviation Manufacturing Communities
Aerospace Production Skills in Aerospace Manufacturing Communities
High-Level Information Technology Skills in Midwestern Communities (May 2015)
Health Care Practitioners' Skills in Midwestern Communities (June 2015)
Higher Education and Workforce Policy: Creating More Skilled Workers (and Jobs for Them to Fill), Brookings, April 2015
A growing skills mismatch? Not necessarily, Deloitte University Press, April 2015
Employment Characteristics of Families - 2014, BLS, April 2015
What's the perfect size for a city?, The Guardian, April 2015
How Technology Has Affected Wages for the Last 200 Years, Harvard Business Review, April 2015
Concentration of Veterinarian Occupations in Wichita is Above National Average
Profile of Unemployment Insurance Beneficiaries in Wichita, 4th Quarter 2014
Decrease in Misery Index for 2014, 4th Quarter
2014, 4th Quarter Industry News and Developments
WSU Faculty Research: The Role of Financial Markets in Determining Physical Oil Prices
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
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