Released May 10, 2023  (See previous version)

The latest data from the Center for Economic Development and Business Research (CEDBR) shows that Kansas' employment is expected to add 8,819 jobs, a growth rate of 0.6%, while in 2024, the state is projected to add 11,464 jobs, a growth rate of 0.8%. These positive projections are welcome news for Kansas, which has been recovering from the economic impact of the COVID-19 pandemic.

"Based on our projections for the next few years, we are seeing steady growth across most industries in Kansas. The durable goods sector is expected to continue its strong performance, while the services sector also shows promising gains. While some industries may experience slight declines, overall, we expect to see a positive trend in employment across the state,” said Jeremy Hill, Director of CEDBR.

The report also shows that the Production industry is projected to see a steady increase in employment, with a growth rate of 1.3% and 1.1% in 2023 and 2024, respectively. The Natural Resources, Mining & Construction industry is projected to grow by 1.2% in 2023 and 1.0% in 2024. The Trade industry is expected to experience a slight increase of 0.2% and 0.3% in 2023 and 2024, respectively.

The Services industry is projected to see positive growth in 2023 and 2024, with a growth rate of 0.6% and 1.0%, respectively. The Professional & Business Services industry is projected to experience a growth rate of 1.5% in 2023 and 1.6% in 2024, while the Leisure & Hospitality industry is expected to grow at a rate of 0.6% and 1.2% in 2023 and 2024, respectively.

The government sector is also expected to see positive growth, with a growth rate of 0.5% in 2023 and 2024.

Looking at the Kansas GDP by industry data, the forecasted estimates for 2023 and 2024 show positive growth overall. All industries' total GDP is expected to increase by 2.4% in 2023 and 2.1% in 2024, while private sectors are predicted to see a slightly higher growth rate of 2.7% in both 2023 and 2024. The mining, quarrying, and oil and gas extraction industry is projected to experience significant growth, with an expected increase of 6.2% in 2023 and 16.3% in 2024. Other sectors, such as manufacturing, transportation and warehousing, and professional, scientific, and technical services, are also expected to grow steadily. However, some industries, such as accommodation and food services and other services (except government and government enterprises), are predicted to experience a decline in growth in both 2023 and 2024.

Looking at the Kansas Labor Market, there has been a significant decrease in unemployment rates from 6.2% in 2020 to 2.9% in 2022 and a projected further drop to 2.6% in 2023. This is expected to result in a decrease in the number of unemployed individuals from 87,557 in 2020 to 38,117 in 2023 and 31,547 in 2024.

Moreover, employment figures have been on the rise since 2020, with a notable increase in 2021 and 2022. It is estimated that by 2023, there will be 1,473,952 employed individuals in Kansas, and this number is expected to rise to 1,482,821 in 2024.

Overall, the labor force in Kansas has remained relatively stable, with a slight increase from 1,503,002 in 2020 to 1,514,369 in 2024.