A Wichita State University revised employment forecast has Wichita and the state adding fewer jobs this year than its initial 2017 jobs forecast last October.
WSU’s Center for Economic Development and Business Research on Wednesday said it now expects Wichita to add 1,640 non-farm jobs for a growth rate of 0.6 percent. That compares with its initial forecast of 2,500 jobs.
Its revised forecast also calls for statewide growth of 7,049 nonfarm jobs, or 0.5 percent growth in 2017. Its October forecast called for jobs to grow by 12,500 this year.
“Unlike the U.S. economy, the Kansas economy may have reached its peak,” CEDBR Director Jeremy Hill said in a news release with the revised forecast. “There are now multiple signs of an economy that is losing steam. Although the forecast calls for employment growth at half of the rate over the past five years, increased caution should be added as a state-led recession is potentially around the corner.”
Wichita is expected to add 1,640 nonfarm jobs for a growth rate of 0.6 percent, according to the forecast.
For Wichita, the fastest growing jobs sector in 2017 is expected to be in services, which the revised forecast said will add 2,370 jobs for 1.7 percent growth. The trade, transportation and utilities and government sectors are expected to contract by 642 jobs, or 1.2 percent, and 63 jobs, or 0.2 percent, respectively.
The revised forecast said the decline in trade, transportation and utilities jobs will largely be the result of declines in retail trade employment.
Production sector jobs in Wichita are expected to remain flat in 2017, with manufacturing losing 100 jobs but natural resources and construction adding 100 jobs.
The service sector is also expected to lead job growth in the state for 2017, adding more than 5,000 jobs, or 0.8 percent employment growth. Kansas’ production sector is expected to add 600 jobs while trade, transportation and utilities will add 900 jobs.
The state’s government sector is expected to remain flat at 0.1 percent employment growth.