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For Immediate Release:
May 16, 2023
Contact:
Cassie Nichols
[email protected]
ICYMI: Kansas' Employment Rates,
GDP Expected to Increase
~~Governor Kelly's focus on economic development has positive effects~~
KEY QUOTE: “The unemployment rate in Kansas is expected to decrease in 2024, with the state poised to add thousands of new jobs, according to new employment predictions.”
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Since 2020, employment rates have been on the rise.
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The CEDBR estimates employment numbers will be about 1,473,952 by the end of 2023, and rise to about 1,482,821 in 2024, projecting an employment increase of .8% for the state in 2024 with 11,464 jobs added.
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“Based on our projections for the next few years, we are seeing steady growth across most industries in Kansas,” said CEDBR Director Jeremy Hill.
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The CEDBR report also predicted a continued drop in unemployment based on the Kansas labor market, with a decrease in unemployment from 2020 to 2023.
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Gross domestic product across all industries in the state is expected to increase. The oil, mining and natural gas industry in particular is expected to have significant growth, with an estimated increase of 6.2% this year and a 16.3% increase in 2024.
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