Regional Monthly Workforce Indicators

Employment and wages decline, unemployment holds steady in November

Key Highlights

  • Kansas City Metropolitan Statistical Area employment was revised downward by 1,800 jobs in October and declined another 2,500 jobs in November, resulting in a two-month loss of 4,000 jobs. 
  • Kansas City's rank for 12-month employment growth rate fell to 10th out of the 11 metros used to benchmark its progress.
  • The fastest-growing industry over the past 12 months was Local Government (which includes public education), adding 4,200 jobs. This was followed by Financial Services (which includes Real Estate and Insurance) with a gain of 3,100 jobs, and Health Services and Private Education, which added 1,800 jobs.
  • Unemployment held steady at 3% in November. This is above last November’s 2.7% but still well below the national average of 3.7%.
  • Average hourly private wages declined by 38 cents in November, though are still up by 4% compared to one year ago, a growth rate that ranks third among the benchmark metros.
Statue in front of Federal Reserve Bank in Kansas City

Employment

Employment — Seasonally adjusted

This graph shows the current number of jobs in the Kansas City metro as determined by the monthly Current Employment Statistics survey. Seasonal adjustment is a statistical technique that attempts to measure and remove the influences of predictable seasonal patterns to reveal the underlying trend in how employment and unemployment change from month to month.

Peer Metro Comparison

This table ranks the 12-month employment growth rate of Kansas City against 10 peer metros.

Unemployment

Unemployment rate — Seasonally adjusted

Employment by Industry

Average private hourly earnings

Hiring Trends

Each month, we provide data on jobs that have been most in demand in a key regional occupational sector based on employer job postings.

Conclusion

With employment and wages both turning down in November, signs of a weakening economy gathered strength. This includes the fact that Local Government was the fastest-growing industry over the past 12 months, an unusual occurrence indicating a lack of private sector confidence in the region’s trajectory. The volatility of monthly figures means we cannot yet assess the magnitude of this trend or the likelihood of it continuing. However, it appears certain that we are entering a period of significantly slower economic growth compared to one year ago, or even earlier this year.

Last updated Jan. 10, 2024.

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