Wichita State releases updated employment forecasts
The Center for Economic Development and Business Research at Wichita State University has released updated Wichita Metropolitan Area and Kansas employment forecasts for 2012.
The regularly scheduled release includes actual employment data through November 2011 and includes the recent announcement that Boeing Co. plans to close its Wichita operations.
For the Wichita area, CEDBR is forecasting a 0.6 percent increase in employment for 2012, for a total gain of 1,735 jobs. The 2012 forecast has been revised downward because of the slower than expected national growth and continued unknowns in the local and global economy.
Wichita’s forecast for 2012 indicates a year of continued stabilization.
For the full Wichita forecast, go to http://www.wichita.edu/j/?1393.
As a state overall, the Kansas unemployment rate was 6 percent in November 2011. This continues the general decline in unemployment rates since mid-2009, after fluctuating a bit throughout 2011.
Kansas employment was expected to remain flat in 2011 when compared to 2010. Gains in the production and service sectors are expected to offset losses incurred in trade, transportation and utilities, as well as the government sectors.
The Kansas economy is expected to stabilize and begin growing at a modest pace. CEDBR estimates total employment growth of 1 percent, for a net increase of 13,010 employees, in 2012.
For the full Kansas forecast, go to http://www.wichita.edu/j/?1394.
Audio comments are available at http://www.wichita.edu/j/?1396.