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Employment levels remain flat, while unemployment rate continues to decline
The most recent employment data covers December 2016, but we can't close the book on last year just yet. More on why in a minute.
The December numbers complete what has been a rather lackluster employment year for Kansas City. Our key employment measure (seasonally adjusted CES data from the Bureau of Labor Statistics) has been flat in 2016, especially during the second half of the year.
Despite a flat employment picture, the regional unemployment rate declined steadily during the second half of the year. This data is not seasonally adjusted so seasonal factors come into play on this measure. Kansas City’s unemployment rate traditionally peaks in the summer and declines from there. Perhaps the most important takeaway here is the 3.9 percent rate itself. This is a low unemployment rate and right in line with rates in our peer metros.
Job postings rebounded a bit in December, following three straight declines.
Why keep 2016 books open? When we get January data (in mid-March) we will also get a revision to the 2016 data, as it get re-benchmarked to more current baseline data. In the past, these revisions have been significant for Kansas City. So, stay tuned. Our next newsletter will analyze the re-benchmarked 2016 data and tell us how 2017 is starting.
KC Rising Year Two Update
2017 RWIN Meeting Schedule:
SEASONALLY ADJUSTED EMPLOYMENT
Overall employment remained flat in 2016, varying within a range of 10,000 jobs over the course of the year.
After four months of decline, employment rose slightly to end December at 3.9 percent.
COMPARISON TO PEER METROS
Most recent Employment by Industry infographic
MARC developed the Regional Workforce Intelligence Network to encourage greater collaboration among the region's workforce data and information professionals.
RWIN is a collaboration of economic development professionals, one-stop centers, workforce centers, community colleges and universities that meets on a monthly basis.
For more information, visit kcworkforce.com.
Mid-America Regional Council | 600 Broadway, Suite 200 | Kansas City, MO 64105 | Ph. 816-474-4240 | firstname.lastname@example.org