The Kansas Department of Commerce reports that Kansas has recorded one of the lowest unemployment rates in the nation at 3.8%. Additionally, total payroll has increased, along with workplace earnings, personal income and home prices. These are all signs of a robust economic outlook for the state. Following is an excerpt from the Federal Reserve Bank of Kansas City:
In Kansas, the unemployment rate was 3.8 percent in March, and total payroll employment grew 0.3 percent compared to the previous year. Employment growth was mixed across industries, with the strongest gains in the transportation and warehousing and wholesale trade sectors.
Kansas’ nominal personal income grew 3.2 percent in the fourth quarter of 2016 compared to the previous year, with workplace earnings up 2.9 percent. Home prices increased 6.3 percent in the fourth quarter of 2016 compared to a year ago, while single-family and multifamily permits recorded a 40.4 and 108.7 percent change, respectively, year-to-date through February 2017.
In January 2017, crude oil production was down 14.5 percent over last year, and rig counts were below year-ago levels. Kansas exports were 5.3 percent lower in 2016 compared to 2015.
Source: The Kansas Economic Databook, April 24, 2017, Federal Reserve Bank of Kanas City