Topeka Employment Forecast
Released May 10, 2023 (See previous version)
Topeka is expected to see steady job growth in the coming years, with 2023 and 2024 showing promising forecasts of similar growth it had in 2022.
The projections indicate that Topeka's total employment will increase by 0.3% in 2023 and 0.5% in 2024. The services sector is expected to be the primary driver of job growth, with employment in professional and business services, education and health services, leisure and hospitality, and other services projected to increase by up to 1.5% in 2023 and 2024.
Meanwhile, the production industry is projected to experience slight fluctuations, with a 0.3% decline in 2023 but a 1.3% increase in 2024. The Durables segment is expected to have consistent growth, whereas the nondurables sector is expected to slow down after several years of solid growth.
The government industry is projected to experience a slight decline of 0.1% in 2024, while natural resources, mining, and construction are expected to grow by 0.5% in the same year.
CEDBR Director Jeremy Hill stated, "The Topeka employment by industry projections show continued growth and stability in the coming years. These positive projections are a testament to the resilience and adaptability of Topeka's workforce and businesses."
Topeka's labor market is expected to continue its positive trend in the coming years, according to the latest forecasts from the Center for Economic Development and Business Research (CEDBR) and the Bureau of Labor Statistics (BLS). The unemployment rate is predicted to decrease from 2.9% in 2022 to 2.7% in 2023, and 2.2% in 2024. This trend indicates a strong labor market and an increased demand for skilled workers.
*The Topeka metropolitan area consists of Jackson, Jefferson, Osage, Shawnee, and Wabaunsee counties.
In 2023, the number of unemployed individuals is expected to decline to 3,241 and further drop to 2,603 in 2024. The employment rate is also likely to rise, with an estimated 117,915 employed individuals in 2023, and 118,794 in 2024. This represents a positive growth trend and a promising outlook for Topeka's labor market.
Moreover, the labor force is anticipated to keep expanding, reaching 121,157 in 2023 and 121,397 in 2024, indicating a growing economy and more job opportunities for the residents of Topeka.
Overall, Topeka's labor market is showing positive signs of growth, and the upcoming years hold promise for the city's economy and workforce.
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