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    August 2014

Area labor market data shows a strong July

Last month, our newsletter was not exactly loaded with good economic news. Employment growth was flat, the unemployment rate was sliding upwards, and Kansas City appeared to be sliding further and further behind most of its peers.

This month, the data tells a happier story. First, the June data was revised upwards by about 2,000 jobs, so June wasn’t as bad as we first thought. But more importantly, July saw a spike to 1,017,000 jobs. This is the highest employment has been since September 2008. On a year-over-year basis, the Kanas City economy added about 10,600 jobs — not great, but not too bad either.

This employment bump lowered the unemployment rate slightly, to 6.2 percent. This keeps the region well behind most of its peers.

The one indicator we normally can count on to grow, monthly job postings, took an upward turn in August, but only recovered about half the ground lost from June's 25,000 to July's 18,000. This particular indicator tends to be volatile, so not many conclusions should be drawn from monthly changes. One additional note on job postings: we are now using a new data provide. EMSI, our primary source for much of our detailed employment data for the region, now offers job posting data. In the months ahea, EMSI will give us additional information on who is hiring and what specific job skills they are seeking.

Upcoming Events

Annual Workforce Summit
Nov. 4, 8 a.m.–noon
Kauffman Foundation
Conference Center
4801 Rockhill Road
Kansas City, MO 64110
$20 registration fee
More information»

 

About RWIN

MARC developed the Regional Workforce Intelligence Network to encourage greater collaboration among the region's workforce data and information professionals.

RWIN is a collaboration of economic development professionals, one-stop centers, workforce centers, community colleges and universities that meets on a monthly basis.

For more information, visit kcworkforce.com.


 

THE LATEST METRO DATA

SEASONALLY ADJUSTED EMPLOYMENT
[The number of people currently employed full or part time. It is not a count of jobs, as an employed person may have more than one job. Current Employment Statistics data.]

After a lackluster beginning in early 2014, employment has climbed the last two months.

UNEMPLOYMENT RATE
[The number of unemployed as a percent of the total labor force.]

The seasonally adjusted unemployment rate fell to 6.2 percent in July.

COMPARISON TO PEER METROS
Most of our peer metros are experiencing lower unemployment rates than the Kansas City metro.

JOB POSTINGS
After a big dip last in July, Kansas City's job postings rebounded in August.


Employment by Industry infographic for July 2014


(Click to enlarge)

 

Greater Kansas City’s unheralded $2.3 billion asset

Ask economic development planners in any metropolitan area what they would think about a corporation that generates $2.3 billion a year in economic activity, employs more than 8,000 people, generates 55,000 hotel room nights AND purchases more than 6,000 airline tickets a year, and you would have them salivating over such a huge economic asset.

We already have such an asset right here in the Kansas City Metro, but it’s not a corporation. Can you guess what it is?

We’re talking about Fort Leavenworth and its affiliated operations.

We recently heard from The 27 Committee, a nonprofit group of business and government leaders from both sides of the state line that is spreading the word about the economic impact of Fort Leavenworth. This information is especially timely as the Army considers potential force reduction plans that might affect Fort Leavenworth and the entire Kansas City region.. Read more at kceconomy.com»



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Interested in more about KC's economy? Follow @KCEconomy on Twitter to get the latest information on regional economic data.

 

 

Mid-America Regional Council | 600 Broadway, Suite 200 | Kansas City, MO 64105 | Ph. 816-474-4240 | marcinfo@marc.org
Data sources: Kansas Department of Labor, Missouri Economic Research and Information Center (MERIC), The Conference Board and EMSI.
Regional data includes Franklin, Johnson, Leavenworth, Linn, Miami and Wyandotte counties in Kansas and Bates, Caldwell, Cass, Clay, Clinton, Jackson,
Lafayette, Platte and Ray counties in Missouri.

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