The experts say we’re recovering from the Great Recession … slowly. We now have a measure of the economic downturn’s impact on the Wichita area.
A recent article in the Wichita Business Journal quoted the U.S. Bureau of Labor Statistics … saying the Wichita metro area had an average of more than 4% fewer private-sector jobs in 2011 than it did in 2006.
The report showed that of the nation’s 100 largest job markets, only 13 had more private-sector jobs at the end of that five-year period. Wichita experienced a loss of 10,300 jobs during that period. The area averaged 254,000 private-sector jobs in 2006. In 2011, the average was 243,700.
When we look at a ten-thousand job loss over five years, the impact of the recession is clear. It also indicates the pressure our elected officials feel to create incentives to attract new businesses and new jobs … and keep the ones we have.
Our thought for today is from Harry S. Truman:
“It’s a recession when your neighbor loses his job; it’s a depression when you lose yours.”