Economy

KC topics that don't fit anywhere else.
earthling
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Re: Economy

Post by earthling »

KC metro is doing very well with job recovery, only down 5.6% for June compared to a year ago when most Midwest/E Coast markets are down in the 7-10% range. But still down 50K jobs from Feb. Hospitality jobs still down the most. Office jobs not down much compared to most markets, especially govt. And odd that construction jobs actually increased since Feb and significant increase from year ago. KC is basically set back to about 2015 as of June.

Nationally there are still over 1M jobs lost a week and at some point returning jobs may not more than offset anymore so it could get worse by end of year, maybe. The end of extra $600 federal unemployment boost could change things too.

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https://www.bls.gov/eag/eag.mo_kansascity_msa.htm

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normalthings
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Re: Economy

Post by normalthings »

earthling wrote:
Fri Jul 17, 2020 10:04 am
KC metro is doing very well with job recovery, only down 5.6% for June compared to a year ago when most Midwest/E Coast markets are down in the 7-10% range. But still down 50K jobs from Feb. Hospitality jobs still down the most. Office jobs not down much compared to most markets, especially govt. And odd that construction jobs actually increased since Feb and significant increase from year ago. KC is basically set back to about 2015 as of June.

Nationally there are still over 1M jobs lost a week and at some point returning jobs may not more than offset anymore so it could get worse by end of year, maybe. The end of extra $600 federal unemployment boost could change things too.

Image

https://www.bls.gov/eag/eag.mo_kansascity_msa.htm
I am sure the new terminal is helping boost those construction numbers

earthling
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Re: Economy

Post by earthling »

^5K construction jobs added since Feb. How many working airport construction?

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normalthings
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Re: Economy

Post by normalthings »

earthling wrote:
Fri Jul 17, 2020 12:03 pm
^5K construction jobs added since Feb. How many working airport construction?
I think they expected 1-2 thousand on site at peak. I’m unsure of how things are with corona. However, there are a lot of non-onsite industry jobs involved. Something like 15-20k jobs supported was floated during the campaign.

earthling
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Re: Economy

Post by earthling »

This shows breakdown of MO/KS side of metro, though a month behind. Is for May. MO side hit harder than KS side but still better than US avg. KS side hit harder with ProBiz and Information jobs. MO side hit harder with Financial, Manufacturing and Hospitality.

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More detail including county level here...
https://www.bls.gov/regions/mountain-pl ... _table.htm

earthling
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Re: Economy

Post by earthling »

BLS claims KC June unemployment rate is only 7.8% compared to 11.1% US avg. The 'real' rate is likely quite a bit higher but either way KC doing much better than US avg and Midwest, including better than Indy and Columbus.

Nationally though unemployment claims are back to rising and GDP shrinking. Printing money apparently only works if there's GDP growth.

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