Category: KC Economy

Job creation from startups: How does the Kansas City region compare?

KCEconomy.com

by Terry Anderson | KCEconomy.org This week the U.S. Census Bureau released interesting statistics showing how much of every metro area’s total employment came from startup businesses in 2014. The Census Bureau defines startups as firms that have been established for less than one year at the time the data is collected. The data excludes self-employed…

State GDP figures don’t paint a rosy picture

By Jeff Pinkerton | KCEcomony.comOfficial state economic growth numbers for 2015 were released last week from the Bureau of Economic Analysis. For our two states, the news wasn’t particularly good. Kansas’ Gross Domestic Product (GDP) declined at an annualized rate of 0.7 percent in the fourth quarter of 2015. It was one of seven states that saw…

KC Housing Values on the Rise

By Jeff PinkertonThe National Association of Realtors recently released their metro median home sales prices and the data shows Kansas City housing increasing in value. According to the data, Kansas City’s median home sales price for the first quarter of 2016 stood at $163,300. This is a 6.7 percent increase from one year earlier. This increase…

Labor Data Shows November Employment Spike in KC

We just had to share this happy chart that we generated while preparing our Regional Workforce Intelligence Network newsletter for next week. According to the Bureau of Labor Statistics, Kansas City enjoyed a nice employment spike in November, bringing the seasonally adjusted employment to over 1,020,000. This gets us very close to — but not…

Educating a New Economy Workforce

KCEconomy.com

MARC’s latest report was released on Tuesday at the 2014 Greater Kansas City Workforce and Education Summit. This year, the summit focused on education and the vital role it plays in preparing today’s students to participate in tomorrow’s workforce. The report identifies potential key indicators to measure the region’s progress in: – Preparing students for…

Back to Work, KC! A 2013 Employment Recap

KCEconomy.com

In an earlier post we discussed 10 reasons to be excited about the Kansas City economy in 2014. As we pored through some year-end employment data for the Kansas City metro, we realized that 2013 put the local economy on solid footing to realize those expectations. For starters, the metro’s unemployment rate dropped to levels…

Party like it’s…2008

KCEconomy.com

A couple of good employment notes to mention. After struggling to gain traction since the recession, Kansas City’s employment situation made some solid progress in 2013. The metro’s employment level reached 1,011,200 in November. This is highest point since late 2008. We still aren’t at pre-recession levels, but if 2014 looks anything like 2013, we…

Construction and Business Services Lead KC in Employment Growth

KCEconomy.com

Kansas City’s Mining-Logging and Construction industry (the vast majority of which is construction employment) increased 8.1 percent (3,300 jobs) between October 2012 and October 2013. As we have mentioned before, construction employment took a big hit during the recession and has been slow to recover, so this is certainly welcome news. Most local industries saw…

KC a Surprising Tech Jobs Creator

KCEconomy.com

According to urban economist Joel Kotkin, Kansas City is among the top metros in the country in technology industry growth and STEM (science, technology, engineering and math) jobs over the last 12 years. In the analysis, KC ranks 13th in overall in Tech-STEM growth rankings between 2001 and 2013.  Kansas City appears to have done…

Kansas City: A Millennial Magnet?

KCEconomy.com

A new Wall Street Journal post highlights the growth in millennials (those aged 25-34) in Washington, D.C. In total, our capitol city added more than 12,000 millennials between 2010 and 2012. The article also lists changes in this population segment in other metros. Here in Kansas City, we’re well behind D.C. in population growth among…

Kansas City’s IT Industry has the Bandwidth to Grow

KCEconomy.com

Last week we wrote about the decline in Information sector jobs. In that post we mentioned that the Information sector should not be confused with Information Technology (IT), which is experiencing solid growth. Our growing IT industry has gotten some national attention recently, including this Nov. 3 Huffington Post article. So, let’s take a closer…

Has The Information Sector Employment Skid Stopped?

KCEconomy.com

Information has long been an industry sector that we watch closely. It requires special attention because it is a sector we specialize in here in Kansas City. Information is a broad sector that basically covers publishing (non-Internet), telecommunications and data processing. Sprint is our big player here, with about 7,000 employees. Although only 3 percent…

Beige Book Describes a Modestly Growing Regional Economy

KCEconomy.com

Most of the research and analysis we do here at KCEconomy tends to be numbers driven. Now that the federal government is up and running, we again have access to the stream of data from government resources. There is one periodic report that we have often overlooked: the Federal Reserve Bank’s Beige Book. It’s worth…

Kansas City Catching Up in Employment Race

KC Catching up Employment

If it seems to you that Kansas City’s employment picture has been getting a little brighter this year, you are right. We have spoken at length about Kansas City’s lackluster employment performance during the recovery from the Great Recession. For three years (2010-2012) Kansas City’s employment growth lagged U.S. growth (and those U.S. growth rates…

KC Patent Activity Picks Up

KCEconomy.com

It has been about a year since we looked at patent data for Kansas City. New data through 2011 shows increasing patent activity in the region, with 636 patents granted to Kansas City area companies and individuals — up from 545 in 2010. As we showed in the earlier blog post, patent activity is typically…

Leisure and Business Services Lead KC’s Employment Growth

KCEconomy.com

Kansas City’s employment change by industry is starting to take on a familiar pattern.  The region added 14,000 net new jobs between July 2012 and July 2013. Once again this month, the leading industries for local growth were far and away the Leisure/Hospitality and Professional Business Services industries, with nearly 15,000 new jobs combined. The…