Voice For Liberty

Tag: Economics

  • Wichita jobs and employment, November 2019

    Wichita jobs and employment, November 2019

    For the Wichita metropolitan area in November 2019, the labor force is up, the number of unemployed persons is down, the unemployment rate is down, and the number of people working is up when compared to the same month one year ago. Seasonal data shows small increases in labor force and jobs from October.

    Data released last week by the Bureau of Labor Statistics, part of the United States Department of Labor, shows a slowly improving employment situation for the Wichita Metropolitan Statistical Area.

    Click charts and tables for larger versions.

    Total nonfarm employment rose from 303,600 last November to 306,100 this November. That’s an increase of 2,800 jobs or 0.9 percent. (This data is not seasonally adjusted, so month-to-month comparisons are not valid.) For the same period, employment in the nation grew by 1.5 percent. The unemployment rate in November 2019 was 3.2 percent, down from 3.3 percent one year ago.

    Considering seasonally adjusted data from the household survey, the labor force rose by 634 persons (0.2 percent) in November 2019 from October 2019, the number of unemployed persons rose by 10 (0.1 percent), and the unemployment rate was 3.4 percent, unchanged from October. The number of employed persons not working on farms rose to 301,338 in November from 300,714 the prior month, an increase of 495 persons, or 0.2 percent.

    The following chart of the monthly change in labor force and employment shows the rise in employment and labor force over the last five months.

    The following chart of changes from the same month one year ago shows a decline in the rate of growth of both employment and labor force. The values are (almost all) growing, but at a slower pace each month until the last three months.

    The following chart of changes in employment from the same month of the previous year shows some months when the Wichita MSA performed better than the nation. Over the past 12 months, the average monthly job growth for the nation was 1.49 percent, and for the Wichita MSA, 0.82 percent.

    The following two charts show changes in jobs for Wichita and the nation over longer time periods. The change is calculated from the same month one year ago. For times when the Wichita line was above the nation, Wichita was growing faster than the nation. This was often the case during the decades starting in 1990 and 2000. Since 2010, however, Wichita has rarely outperformed the nation and sometimes has been far below the nation.

  • GDP by metropolitan area and component

    GDP by metropolitan area and component

    An interactive visualization of gross domestic product by metropolitan area and industry.

    The Bureau of Economic Analysis, an agency of the United States Department of Commerce, gathers data about economic output, known as gross domestic product. This visualization presents this data in tabular and graphic form.

    The GDP figures are real, meaning adjusted for inflation. They are annual numbers through 2018. The release this month also includes revisions for the prior year. In the case of Wichita, the revision was significant. See Wichita economy shrinks, and a revision for details.

    A nearby example from the visualization compares Wichita metro GDP growth to that of the nation’s metropolitan areas.

    Click here to learn more and access this visualization.

    Click for larger.
    Example from the visualization. Click for larger.
    Example from the visualization. Click for larger.
  • Wichita economy grows, and a revision

    Wichita economy grows, and a revision

    The Wichita economy grew in 2018, and revised statistics show growth in 2017.

    Statistics released this month by the Bureau of Economic Analysis, an agency of the United States Department of Commerce, report real gross domestic product (GDP) figures for metropolitan areas. Also included are revised statistics for previous years.

    For 2018, the Wichita metropolitan area GDP, in real dollars, grew by 3.3 percent. Revisions to 2017 data show that Wichita GDP grew by 1.7 percent in 2017. Last year BEA reported growth for that year of -1.4 percent.

    In the statistics released this month, GDP in 2018 was $32,832,296 thousand, measured in chained 2012 dollars. In 2017 it was $31,780,917 thousand, a change of $1,051,379 thousand or 3.3 percent. For the nation, real GDP grew by 2.9 percent.

    The revision to the 2017 GDP may come as a surprise. The nearby chart shows that while GDP rose in that year, employment declined.

  • Kansas jobs, November 2019

    Kansas jobs, November 2019

    Employment and the labor force rose, both by small amounts, in Kansas in November 2019 compared to the prior month. Kansas continues to perform well in year-over-year growth when compared to the nation.

    Data released this week from the Bureau of Labor Statistics, part of the United States Department of Labor, shows a mostly improving picture for employment in Kansas for November 2019. (Click charts and tables for larger versions.)

    Using seasonally adjusted data, from October 2019 to November 2019, nonfarm employment in Kansas rose by 1,200, which is 0.1 percent. Over the year, the number of Kansas nonfarm jobs for November 2019 rose by 16,800 or 1.2 percent over last November. This is using seasonally adjusted data. The non-adjusted figure is nearly the same at 17,500, also 1.2 percent.

    Over the year (November 2018 to November 2019), the Kansas labor force is up by 6,750 (0.5 percent) using seasonally adjusted data, with an increase of 0.3 percent over the last month. Non-seasonal data shows an increase of 14,325 (1.0 percent) in the labor force over the year.

    The number of unemployed persons rose from October 2019 to November 2019 by 250, or 0.5 percent. The unemployment rate was 3.1 percent in November, down 0.2 percentage points from one year ago, and unchanged from October.

    Comparing Kansas to the nation: Using seasonal data, Kansas nonfarm jobs increased by 1.18 percent over the past 12 months, while national jobs grew by 1.47 percent. Non seasonal data shows Kansas nonfarm jobs rising by 1.22 percent over the past 12 months, while national jobs grew by 1.49 percent.

    Click charts and tables for larger versions.

    In the following chart of showing job changes from the same month one year ago, Kansas is always below the national rate, although for September 2019 Kansas nearly met the national rate. The recent trend shows Kansas doing well compared to the nation, just slightly below the national rate.

    In the following chart showing job changes from the previous month, Kansas has outperformed the nation in some months, but has fallen behind recently.

  • Kansas personal income

    Kansas personal income

    For the third quarter of 2019, the rate of personal income growth in Kansas was near the top of the states, but behind the nation in year-over-year growth.

    Today the Bureau of Economic Analysis, an agency of the United States Department of Commerce, released state personal income data for the third quarter of 2019.

    For Kansas, personal income in the third quarter of 2019 was $156,547 million, an increase of 6.1 percent from the second quarter. For the nation, the increase was 3.8 percent. (These values, while considering one quarter, are expressed as an annual rate, and are adjusted for seasonality.) For Plains states, the increase was 7.5 percent. (For this data, Plains States are Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota. The second quarter of the calendar year consists of the months of April, May, and June.)

    The increase in Kansas was seventh-best among the states.

    Earnings in Kansas grew by $2,156 million in 2019 Q3 from Q2, with farm earnings rising by $1,123 million.

    Over the year, from the third quarter of 2018 to the third quarter of 2019, personal income in Kansas grew by 4.1 percent. For the Plains states the figure is 4.8 percent, and for the nation, 4.5 percent.

    According to BEA, “Personal income is the income received by, or on behalf of, all persons from all sources: from participation as laborers in production, from owning a home or business, from the ownership of financial assets, and from government and business in the form of transfers. It includes income from domestic sources as well as the rest of world. It does not include realized or unrealized capital gains or losses.”

    Also from BEA: “Earnings by place of work is the sum of wages and salaries, supplements to wages and salaries, and proprietors’ income. BEA’s industry estimates are presented on an earnings by place of work basis.”

  • Wichita jobs and employment, October 2019

    Wichita jobs and employment, October 2019

    For the Wichita metropolitan area in October 2019, the labor force is up, the number of unemployed persons is down, the unemployment rate is down, and the number of people working is up when compared to the same month one year ago. Seasonal data shows small increases in labor force and jobs from September.

    Data released yesterday by the Bureau of Labor Statistics, part of the United States Department of Labor, shows a slowly improving employment situation for the Wichita Metropolitan Statistical Area.

    Click charts and tables for larger versions.

    Total nonfarm employment rose from 301,800 last October to 304,600 this October. That’s an increase of 2,800 jobs, or 0.9 percent. (This data is not seasonally adjusted, so month-to-month comparisons are not valid.) For the same period, employment in the nation grew by 1.4 percent. The unemployment rate in September 2019 was 3.1 percent, down from 3.3 percent one year ago.

    Considering seasonally adjusted data from the household survey, the labor force rose by 447 persons (0.1 percent) in October 2019 from September 2019, the number of unemployed persons fell by 92 (0.9 percent), and the unemployment rate was 3.4 percent, down from 3.5 percent in September. The number of employed persons not working on farms rose to 300,758 in October from 300,219 the prior month, an increase of 539 persons, or 0.2 percent.

    The following chart of the monthly change in labor force and employment shows the rise in employment and labor force over the last two months.

    The following chart of changes from the same month one year ago a decline in the rate of growth of both employment and labor force. The values are (almost all) growing, but at a slower pace each month until this month and last.

    The following chart of changes in employment from the same month of the previous year shows some months when the Wichita MSA performed better than the nation. Over the past 12 months, the average monthly job growth for the nation was 1.40 percent, and for the Wichita MSA, 0.93 percent.

    The following two charts show changes in jobs for Wichita and the nation over longer time periods. The change is calculated from the same month one year ago. For times when the Wichita line was above the nation, Wichita was growing faster than the nation. This was often the case during the decades starting in 1990 and 2000. Since 2010, however, Wichita has rarely outperformed the nation and sometimes has been far below the nation.

  • Kansas jobs, October 2019

    Kansas jobs, October 2019

    Employment fell and the labor force rose, both by small amounts, in Kansas in October 2019 compared to the prior month. Kansas continues to perform well in year-over-year growth when compared to the nation.

    Data released last week from the Bureau of Labor Statistics, part of the United States Department of Labor, shows a mostly improving picture for employment in Kansas for October 2019. (Click charts and tables for larger versions.)

    Using seasonally adjusted data, from September 2019 to October 2019, nonfarm employment in Kansas fell by 500, which rounds to 0.0 percent. Over the year, the number of Kansas nonfarm jobs for Ovtober 2019 rose by 18,100 or 1.3 percent over last October. This is using seasonally adjusted data. The non-adjusted figure is nearly the same at 18,600, also 1.3 percent.

    Over the year (October 2018 to October 2019), the Kansas labor force is up by 2,554 (0.2 percent) using seasonally adjusted data, with an increase of 0.3 percent over the last month. Non-seasonal data shows an increase of 14,529 (1.0 percent) in the labor force over the year.

    The number of unemployed persons fell from September 2019 to October 2019 by 156, or 0.3 percent. The unemployment rate was 3.1 percent in October, down 0.2 percentage points from one year ago, and down by 0.1 percentage points from August.

    Comparing Kansas to the nation: Using seasonal data, Kansas nonfarm jobs increased by 1.27 percent over the past 12 months, while national jobs grew by 1.40 percent. Non seasonal data shows Kansas nonfarm jobs rising by 1.30 percent over the past 12 months, while national jobs grew by 1.40 percent.

    Click charts and tables for larger versions.

    In the following chart of showing job changes from the same month one year ago, Kansas is always below the national rate, although for September 2019 Kansas nearly met the national rate. The recent trend shows Kansas doing well compared to the nation.

    In the following chart showing job changes from the previous month, Kansas has outperformed the nation in some months, but has fallen slightly recently.

  • Sedgwick County talent attraction

    Sedgwick County talent attraction

    In an index ranking counties in talent attraction, Sedgwick County has not performed well.

    Emsi, a labor market advisor, has released its fourth annual talent attraction scorecard. Data considered by the index includes net migration, overall job growth, skilled job growth, educational attainment, regional competitiveness, and annual openings per capita. These are weighted equally.

    Among the 600 largest counties, Sedgwick County ranked 540, 543, and 537 from 2017 to 2019.

    The interactive map and more information may be found at The Fourth Annual Talent Attraction Scorecard.

    On this map, high-ranking counties are blue, with low-ranking counties red.
  • Wichita personal income grows

    Wichita personal income grows

    Wichita personal income grew at a faster rate in 2018.

    Statistics released today by the Bureau of Economic Analysis, an agency of the United States Department of Commerce, show personal income in the Wichita Metropolitan Statistical Area growing at an increasing rate.

    The figures released today are through calendar year 2018. For that year, personal income in the Wichita MSA was $33,060.9 million, up 6.2 percent from $31,128.2 million the previous year. These are current dollars.

    The figure for 2017 was adjusted from $30,801.3 million to $31,128.2 million.

    In the nation’s metropolitan areas, personal income grew by 5.7 percent.

    Per capita personal income in the Wichita MSA for 2018 was $51,854 in current dollars, up 6.2 percent from $48,818 in 2017. This growth rate ranked at position 26 among 384 metropolitan areas. For the nation, growth was 4.9 percent.

    BEA offers these definitions:

    Personal income is the income received by, or on behalf of, all persons from all sources: from participation as laborers in production, from owning a home or business, from the ownership of financial assets, and from government and business in the form of transfers. It includes income from domestic sources as well as the rest of world. It does not include realized or unrealized capital gains or losses.

    Personal income is measured before the deduction of personal income taxes and other personal taxes and is reported in current dollars (no adjustment is made for price changes). Comparisons for different regions and time periods reflect changes in both the price and quantity components of regional personal income.

    The estimate of personal income for the United States is the sum of the state estimates and the estimate for the District of Columbia; it differs slightly from the estimate of personal income in the national income and product accounts (NIPAs) because of differences in coverage, in the methodologies used to prepare the estimates, and in the timing of the availability of source data.

    Per capita personal income is calculated as the total personal income of the residents of a given area divided by the population of the area. In computing per capita personal income, BEA uses Census Bureau mid-year population estimates.