黑洞社区鈥檚 Center for Economic Development and Business Research has released its updated Kansas Employment Forecast.
In 2017, Kansas total nonfarm employment is forecast to increase by 7,049 jobs, with an anticipated growth rate of 0.5 percent.
The service sector is expected to lead the growth in the state in 2017, adding more than 5,000 jobs for 0.8 percent employment growth. The production and trade, transportation and utilities sectors are projected to add 600 jobs and 900 jobs, respectively, for 0.3 percent growth in each sector. The government sector, however, is projected to remain constant, growing by 0.1 percent.
鈥淯nlike the U.S. economy, the Kansas economy may have reached its peak,鈥� says CEDBR Director Jeremy Hill. 鈥淭here are now multiple signs of an economy that is losing steam. Although the forecast calls for employment growth at half of the rate over the past five years, increased caution should be added as a state-led recession is potentially around the corner.鈥�
Wichita forecast
In 2017, Wichita total nonfarm employment is expected to increase by 1,640 jobs, which implies the employment growth rate is anticipated to be 0.6 percent.
The service sectors (2,370 jobs) are forecasted to be the fastest growing portion of the Wichita area economy, with 1.7 percent growth. The trade, transportation and utilities (-642 jobs) and government (-63) sectors are expected to contract by 1.2 percent and 0.2 percent, respectively. The production sector, however, is projected to remain relatively constant.
鈥淩evised employment numbers showed that Wichita鈥檚 economic growth came to a screeching halt in October of 2016,鈥� Hill says. 鈥淓ven though employment growth presumably stopped, there is lacking evidence that the slowed employment growth is systemic. Employment growth is expected to pick up marginally, but multiple headwinds could derail that growth.鈥�
.