In March 2010, the 2009 benchmark revisions were made to the Bureau of Labor Statistics Current Employment Statistics, the primary data source for the Wichita Economic Outlook. These revisions impacted the Wichita MSA employment numbers significantly. Due to these revisions, CEDBR updated its last Wichita MSA forecast and is releasing that revised forecast of employment for 2010.
Early in 2009 the Wichita MSA maintained employment levels. The average annual values for 2009 show one quarter of “normal growth” employment and three quarters of “contraction” employment. In 2010, CEDBR is expecting a year of slowing decline in the Wichita MSA, with growth in nearly all sectors in the fourth quarter, which equates to a “contraction” quarter, two “trough” quarters and one “recovery” quarter. The 2010 annual average employment is expected to be below that of 2009.
To read the complete 2010 forecast revision for the Wichita MSA, click here.