In March 2010, the 2009 benchmark revisions were made to the Bureau of Labor Statistics Current Employment Statistics, the primary data source for the Kansas Economic Outlook. Due to these revisions, CEDBR updated its last Kansas forecast and is releasing that revised forecast of employment for 2010.
National conditions show increased consumer confidence, expanding output, and improving home sales. The national economy is expected to begin a sluggish rebound in the remainder of 2010. National employment is expected to experience modest gains in 2010 with full employment recovery not taking place until 2012. The national rebound will be slow to infiltrate the state of Kansas’ economy. A slower pace of decline is reflected in the Kansas forecast for the first quarter of 2010. In the second quarter, growth in service sectors is expected to take hold. The second half of 2010 will result in modest growth in nearly all industries.
To read the complete 2010 forecast revision for Kansas, click here.