The Wichita Area Economic Outlook Conference is set for the morning of Thursday, October 1. National speakers and local panelists will address the U.S. global economy, business creation, commercial real estate, the state and local economies, and local industry.
Register before September 11 to pay the early bird price. Visit www.agenda.cedbr.org or call (316) 978-3225 to register.
UNEMPLOYMENT INSURANCE BENEFICIARIES
Profile of Unemployment Insurance Beneficiaries in Wichita, 2nd Quarter 2015
There was an average of 15,269 unemployed people in the Wichita metropolitan area in the second quarter of 2015, approximately 57 percent of whom collected unemployment insurance benefits. In the second quarter of 2015 there were approximately 8,637 people, age 16 and over, who collected unemployment insurance benefits. That is an increase of approximately 13 percent from the first quarter.
In the second quarter of 2015, three industries accounted for 49.6 percent of unemployment insurance beneficiaries in the Wichita area; construction, manufacturing, and administrative and support and waste management and remediation services. Three industries, construction, administrative and support and waste management and remediation services, and transportation and warehousing had a proportionately high level of unemployment insurance, when compared to area employment.
Across the metropolitan area the zip codes with the highest numbers of unemployment insurance beneficiaries in the second quarter were in downtown Wichita. The zip codes with the highest numbers of unemployment insurance beneficiaries are generally the zip codes with the highest number of workers.
2015 Second Quarter Wichita Industry News and Developments
Review major industry announcements by industry sector from 2015 and an overview of statistical trends within each sector for the first 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.
Midwest Annual Inflation Rates Increased, July 2015
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 July 2015 data shows the Midwest inflation rate increased from June to July in urban metros and non-metro areas.
The Producer Price Index data shows that prices in the United States have increased from July 2014 to July 2015 for aircraft (0.9 percent) and sorghum (20.9 percent). During that same time period, the index decreased for crude petroleum (48.4 percent), natural gas (38.9 percent), slaughter livestock (14.0 percent), and wheat (11.1 percent).
Misery Index Decreased Between First and Second Quarters, 2015
Between the first and second quarters of 2015 the general level of misery experienced by people in the United States decreased. This can be attributed to a small decrease in the unemployment rate, low levels of inflation and increases in housing prices. The level of misery in Kansas increased slightly between the first and second quarters, mostly attributed to a small increase in the quarterly average unemployment rate.
The Misery Index, as calculated by the Center for Economic Development and Business Research (CEDBR), includes the following components:
The Consumer Price Index (CPI) from the Bureau of Labor Statistics
The House Price Index (HPI) from the Federal Housing Finance Agency
Unemployment Rates (UR) from the Bureau of Labor Statistics
July Numbers Show Increasing Employment and Unemployment
The unemployment rate for Kansas, as a whole, increased by 0.4 percentage points from June to July of 2015. The Wichita, Topeka, Manhattan and Lawrence MSAs all experienced similar unemployment rate increases for that same period, increasing by 0.5 percentage points in Wichita, 0.4 percentage points in Topeka and Lawrence, and 0.3 percentage points in Manhattan.
A slide presentation is available with additional employment and unemployment data for Kansas and its four metro areas.
From May to June, the WSU Current Conditions Index and the Leading Index both decreased 0.4 percent. The Current Conditions Index increased 0.4 percent from June 2013 to June 2014 and the Leading Conditions Index decreased 0.3 percent during that same period. In addition, the Leading Index is forecasting a 0.31 percent decrease in economic activity over the next six months.
WSU's Center for Entrepreneurship and Meritrust Credit Union present the fall 2015 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.
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
Wichita, KS 67260-0121
Phone: (316) 978-3225
FAX: (316) 978-3950
The Center for International Business Advancement-World Trade Council of Wichita (CIBA-WTCouncil) has announced an upcoming reception, banquet and speaker program on October 22, 2015. Dr. John W. Bardo, president of Wichita State University, will be speaking on Wichita State University's Innovation Campus as a catalyst for Kansas.
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: