KC Employment Growth Focused on Service Sector
by Jeff Pinkerton
Professional business services, financial services and leisure-hospitality are the employment sectors with the most local job growth over the past year. In fact, these were the only three sectors in the Kansas City area to see employment gains in the year ending March 2013.
Industry-specific data is not seasonally adjusted, so to provide a realistic comparison we need to look at employment change on a year-over-year basis.
Some of the trends are reflective of long-term realities. The information industry, for instance, is one that has experienced employment decline both locally and nationally for years.
Other trends are more likely short-term. As we have noted before, we expect to see employment in construction to finally begin to take a turn for the better in the next few months, as the housing market is showing signs of a comeback.
Additionally, we recently received great manufacturing employment news, as both GM and Ford announced commitments to add thousands to the local workforce. It will take some time for the two plants to build and expand their facilities, so we may not see these new manufacturing jobs immediately. But we know that our local manufacturing sector — and the region’s overall employment base — will receive a shot in the arm in the not-too-distant future.