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Wichita Economic Growth's "Screeching Halt" Last Fall

May 17, 2017 - 2:36 pm
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WICHITA, Kan. (KNSS) - Wichita State University's Center for Economic Development and Business Research has released an updated Wichita Employment Forecast.

In 2017, Wichita total nonfarm employment is expected to increase by 1,640 jobs, which implies the employment growth rate is anticipated to be 0.6%.

The service sectors (2,370 jobs) are forecasted to be the fastest growing portion of the Wichita area economy, with 1.7% growth. The trade, transportation and utilities (-642 jobs) and government (-63) sectors are expected to contract by 1.2% and 0.2%, respectively. Whereas, the production sector is projected to remain relatively constant.

“Revised employment numbers showed that Wichita economic growth came to a screeching halt in October of 2016,” says CEDBR Director Jeremy Hill.  “Even though employment growth presumably stopped, there is lacking evidence that the slowed employment growth is systemic.  Employment growth is expected to pick up marginally, but multiple headwinds could derail that growth.”

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