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    October 2014

A bump in the road

Kansas City’s employment dropped slightly (by 1,000 jobs) in August after solid growth in the preceding two months. This decline is likely just a hiccup in what has been a pretty good employment run.

September data, available later this month, will indicate whether this drop in employment is the start of a new trend or, as we suspect, just an anomaly.

The metro unemployment rate (seasonally adjusted) dropped for the third straight month and now sits at 6.0 percent. While that is an improvement, it is still higher than most of Kansas City's peer metros.

Job postings rebounded a bit in August, with 20,000 unique job postings in the metro.

 

Workforce Summit will focus on education

On Tuesday, Nov. 4, the Mid-America Regional Council and regional education and workforce partners will host the fifth annual Greater Kansas City Workforce Summit.

This year’s program will focus on the region’s efforts to foster a talented and highly educated workforce through postsecondary attainment in high-demand fields.

We will share information about a new regional post-secondary attainment initiative supported by Lumina Foundation’s Community Partnership for Attainment program, and will release an in-depth report on education and workforce metrics in the Kansas City region. Regional education and workforce leaders will also share information about current initiatives and new strategies to promote educational attainment.

The $20 registration fee includes breakfast. Register online»

 

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.]

Overall employment dropped between July and August, but still remains above last year's level.

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

The seaaonally adjsuted unemployment rate dropped for the third straight month, to 6.0 percent.

COMPARISON TO PEER METROS
Kansas City's 6.0 percent unemployment rate still is well toward the back of the pack of its peer metro areas.

JOB POSTINGS
After dropping sharply in July, job postings rebounded somewhat in August.


Employment by Industry infographic for August 2014


(Click to enlarge)

In KC, Royal blue is more important than green

In recent weeks we have been asked about the economic impact of the Royals’ remarkable playoff run. The “K” has been packed to capacity and bars and restaurants are overflowing with Royals fans, so there has to be a boost to the regional economy, right?

Well, yes, you’re probably right, but maybe not to the extent you might think. Economic impact studies are often cited to justify major civic expenses to attract events that would bring visitors who spend money on hotels, dining and other entertainment. The key word here is visitors.

The vast majority of the people you’ve seen in the crowds at Royals playoff games are likely from somewhere in the metro area. They didn’t bring in net new money into the region. They just chose to spend disposable income on those Royals tickets instead of somewhere else around town. While some in attendance are visitors, it is not likely to be enough to have a significant economic impact.

The REAL impact of this Royals playoff run is different and is probably incalculable. These home games broadcast on national television have essentially acted as a three-hour (or in some cases a five-hour) commercial for our community. Read more at kceconomy.com»



Follow us on Twitter

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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