During the third quarter of 2015, retail trade employment in Wichita stood at 32,000. This is down 0.2 percent from the second quarter of 2015, and down 2.5 percent from the third quarter of 2014.
This graph displays the percentage change in retail trade employment in Wichita compared to that of the U.S.
The Wichita Inudstry News and Developments report below contains more details regarding local business changes announced in the third quarter of 2015, as well as the notable expansion and additions taking place in Wichita's automotive industry.
The Council for Community and Economic Research released the third quarter Cost of Living Index for 265 urban areas. Wichita’s overall Index value was nearly 6 percent below the national average of 100. The most expensive urban area in which to live was New York (Manhattan), N.Y., with an Index value more than twice that of the national average. The least expensive urban area was McAllen, Texas, which was nearly 23 percent below the national average.
To subscribe to the Cost of Living Index report, or to learn more about The Council for Community and Economic Research, visit their website.
WICHITA INDUSTRY NEWS
2015 Third 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 third 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.
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 October 2015 data shows the Midwest inflation rate increased from September to October in urban metros and in non-metro areas.
The Producer Price Index data shows that prices in the United States have increased from October 2014 to October 2015 for aircraft (0.7 percent) and sorghum (6.5 percent). During that same time period, the index decreased for crude petroleum (43.2 percent), natural gas (36.9 percent), slaughter livestock (19.3 percent), and wheat (18.6 percent).
Between the second and third quarters of 2015, the general level of misery experienced by people in the United States decreased and remains well below the 2014 level. 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 decreased slightly between the second and third quarters and remains somewhat below the 2014 level.
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
Current and Leading Indices Improved Slightly, September 2015
From August to September, the WSU Current Conditions Index increased 0.5 percent, and the Leading Index increased 0.8 percent. The Current Conditions Index increased year-to-year by 0.2 percent, while the leading index decreased by 0.5 percent from August 2014 to September 2015. In addition, the Leading Index is forecasting a 0.7 percent increase in economic activity over the next six months.
Center for Economic Development and Business Research
Wichita, KS 67260-0121
Phone: (316) 978-3225
FAX: (316) 978-3950
The CEDBR welcomes local Wichitan James Sanny to the team this month. Working for several branches in the W. Frank Barton School of Business, James will be assisting with web communications for the Center for Economic Development and Business Research, Center for Management Development & the Center for Real Estate.