WSU economic report: 2013 employment remains stable
Employment in Wichita and the rest of the United States has remained stable, according to new research by Wichita State University’s Center for Economic Development and Business Research.
In the first half of 2013, both the United States and Wichita have continued a modest recovery. Nationally, employment grew 1.1 percent from the second quarter of 2012 to the second quarter of 2013. Wichita employment grew 0.8 percent over the same time period.
The economy should continue a slow and steady recovery in 2014. A quick recovery to pre-recession levels of employment should not be expected. Even the modest recovery has several potential downside risks that could derail it. Further downturns from our major trading partners abroad, tightening monetary policy, new regulation and further fiscal austerity could all darken our outlook for 2014.
Total nonfarm employment is expected to increase by 3,419 jobs in 2014, for a growth rate of 1.2 percent. Production sectors are projected to grow by 854 jobs, or 1.3 percent, with durable goods manufacturing growing at 0.8 percent.
Trade, transportation and utilities will grow by 336 jobs, or 0.7 percent. The service sectors will provide most of the job growth for Wichita, adding 2,056 jobs, or 1.6 percent. The professional and business services sector will add 832 jobs, and the education and health services sector will add 753 jobs.
The report includes an industry level forecast, a highlight of key growth factors and industry news.