October 25, 2018 Pattie Bradley Senior Research Economist Center for Economic Development and Business Research

Transcription

1 October 25, 2018 Pattie Bradley Senior Research Economist Center for Economic Development and Business Research

2 Kansas Economic Trends Per Capita Personal Income Inflation Labor Force Unemployment Participation Migration Employment by Industry Inflation Income Labor Force

3 Kansas

4 Per Capita Personal Income The personal income divided by the resident population. wages and salaries, with supplements proprietors' income with inventory valuation capital consumption adjustments rental income dividend and interest income personal current transfer receipts less contributions for government social insurance Inflation Income Labor Force

5 Real Per Capita Personal Income Source: Bureau of Economic Analysis, Inflation adjusted

6 Real Per Capita Personal Income Source: Bureau of Economic Analysis, Inflation adjusted

7 Per Capita Personal Income Source: Bureau of Economic Analysis, Inflation adjusted

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9 Midwest

10 Midwest Inflation Rate The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. The Midwest region is comprised of Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin. Inflation Income Labor Force

11 Midwest Inflation Rate Source: Bureau of Labor Statistics

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13 Kansas

14 Labor Force Trends Labor force is a measure of the people in an area that are economically active. This includes the employed and the unemployed Labor Force issues Unemployment Participation Migration Employment by Industry Inflation Income Labor Force

15 Labor Force Growth Source: Bureau of Labor Statistics

16 Labor Force Growth Source: Bureau of Labor Statistics

17 Kansas Labor Force Growth Source: Bureau of Labor Statistics

18 Labor Force Growth Source: Bureau of Labor Statistics

19 Labor Force Growth Source: Bureau of Labor Statistics

20 Kansas

21 Kansas Unemployment Rate Source: Bureau of Labor Statistics

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23 Kansas Employment and Unemployment Source: Bureau of Labor Statistics

24 Kansas

25 Kansas Population Growth Source: U.S. Census Bureau

26 Source: U.S. Census Bureau Interstate Migration

27 Annual Average Interstate Migration Source: U.S. Census Bureau

28 Annual Average Interstate Migration Source: U.S. Census Bureau

29 Kansas Net Migration 2016 Source: U.S. Census Bureau

30 Annual Average Interstate Migration Source: U.S. Census Bureau

31 Kansas

32 Kansas Labor Force Participation Source: U.S. Census Bureau

33 Kansas Labor Force Participation Male Female 16 to 19 years: 1.42% 6.40% 20 and 21 years: 3.50% -2.61% 22 to 24 years: 3.30% 3.66% 25 to 29 years: -0.87% 5.09% 30 to 34 years: 0.72% 0.03% 35 to 44 years: 0.83% -0.07% 45 to 54 years: 1.08% -0.74% 55 to 59 years: 1.36% -2.77% 60 and 61 years: -2.00% 0.92% 62 to 64 years: 0.35% 3.43% Source: U.S. Census Bureau

34 Kansas Labor Force Participation Male Female 16 to 19 years: 1.42% 6.40% 20 and 21 years: 3.50% -2.61% 22 to 24 years: 3.30% 3.66% 25 to 29 years: -0.87% 5.09% 30 to 34 years: 0.72% 0.03% 35 to 44 years: 0.83% -0.07% 45 to 54 years: 1.08% -0.74% 55 to 59 years: 1.36% -2.77% 60 and 61 years: -2.00% 0.92% 62 to 64 years: 0.35% 3.43% Source: U.S. Census Bureau

35 Labor Force Participation Source: U.S. Census Bureau

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37 KANSAS

38 Source: Bureau of Labor Statistics Employment Growth

39 Kansas Major Industry Subsectors At least 15,000 employees Over $1 Billion in annual wages in 2017 Low wage, High employment High wage, Low employment 18 subsectors meet these criteria

40 Kansas Industry Shift Share Increasing Market Share in a Contracting Industry Increasing Market Share in a Growing Industry Decreasing Market Share in a Contracting Industry Decreasing Market Share in a Growing Industry Source: Bureau of Labor Statistics

41 Decreasing Market Share - Contracting Industry Source: Bureau of Labor Statistics

42 Decreasing Market Share - Growing Industry Source: Bureau of Labor Statistics

43 Decreasing Market Share - Growing Industry Kansas Contracting, U.S. Growing Kansas Growing Slower than U.S. Transportation equipment mfg. Administrative services Insurance Specialty trade contractors Food services Ambulatory health care

44 Increasing Market Share Contracting Industry Source: Bureau of Labor Statistics

45 Increasing Market Share Contracting Industry U.S. Contracting, Kansas Growing Kansas Growing Faster than U.S. Machinery mfg. Hospitals Credit intermediation Wholesalers nondurable

46 Increasing Market Share Growing Industry Source: Bureau of Labor Statistics

47 Summary - Kansas Economic Trends Per Capita Personal Income- higher than the U.S., but growing more slowly Inflation remains below the national average with upward pressure Labor Force Unemployment low and declining Participation recent downward trend may be improving Large net out migrations in a few areas Employment not growing as fast as the national economy, but there are industries that are growing faster than the national economy

48 For additional information you may contact me at: (316) or