Profile of Unemployment Insurance Beneficiaries in Wichita, 4th Quarter 2015
There was an average of 12,760 unemployed people in the Wichita metropolitan area in the fourth quarter of 2015, approximately 64 percent of whom collected unemployment insurance benefits. In the fourth quarter of 2015 there were approximately 8,215 people, age 16 and over, who collected unemployment insurance benefits. That is an increase of approximately 33 percent from the third quarter of 2015.
In the fourth quarter of 2015, four industries accounted for 65.5 percent of unemployment insurance beneficiaries in the Wichita area; manufacturing, administrative and support and waste management and remediation services, wholesale trade, and construction. These four industries also have a proportionately high level of unemployment insurance, when compared to area employment. The increase in the number of unemployment insurance beneficiaries in this four industries can be mostly attributed to seasonal factors.
Across all subsectors of manufacturing, there is a significantly lower level of educational attainment in beneficiaries of unemployment insurance than in the general labor force. Sixty-three percent of these unemployment insurance beneficiaries have no more education than a high school diploma.
In 2014, Kansas metropolitan areas had a population of 2,009,163, which comprised 69.1 percent of the total population of the state, while the non-metropolitan areas had a population of 895,158, which was 30.9 percent of the total population. Over the next 50 years, CEDBR projects that the metropolitan areas will continue to grow substantially in population and the non-metropolitan areas will experience population declines. In 2064, 80.2 percent of the total Kansas population is projected to reside in metropolitan areas, while 19.8 percent is projected to remain in rural areas.
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 January 2016 data shows the Midwest inflation rate increased from December to January in urban metros, and decreased in non-metro areas.
The Producer Price Index data shows that prices in the United States have increased from January 2015 to January 2016 for aircraft (0.1 percent). During that same time period, the index decreased for sorghum (-23.0 percent), crude petroleum (-37.5 percent), natural gas (-31.0 percent), slaughter livestock (-16.9 percent), and wheat (-20.7 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 continued decreases 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
Graduate student's research helps WSU develop state population forecast
Matthew Darrah, a graduate student in international economics at Wichita State University, was pulled aside by a professor last year and asked to get involved in the Center for Economic Development and Business Research's (CEDBR) Kansas population forecast.
Though he had no experience with population projecting, Darrah jumped in last June and began his independent study researching the state population trends over the past century.
“It’s OK to start simple when it comes to research,” says Darrah. “You can’t underestimate how fast a simple idea can become complicated.”
Current and Leading Indices Deteriorate, December 2015
From November to December, the WSU Current Conditions Index deteriorated by 0.1 percent and, after strong improvements through the fall, the Leading Index decreased 0.5 percent. The Current Conditions Index increased year-to-year by 1.0 percent, with the Leading Index dropping 0.1 percent from November 2014 to December 2015. In addition, the Leading Index is forecasting a 0.24 percent decrease 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
Registration is open for the 2016 Wichita Industry Research Exchange that will be held at the Hyatt Regency on Thursday, April 28 from 7:30 to 11:00 a.m.. Scholars and Wichita State University professors will present on the following topics:
Building an Entrepreneurial Ecosystem in Wichita
Entrepreneurship Trends Across Kansas
Broadening the Stories: Ethnic Entrepreneurs in Wichita