State of the Economy in Kansas City

A look at the unemployment rates in the U.S. and Kansas City

While the economy is not nearly as bad as it was when the Great Recession began several years ago, it still seems to be plodding along. Many people wonder if the economy is recovering, stagnating, or getting worse. Recent government data reveal trends that give us the answers.

The U.S. unemployment rate rose from 7.8% to 7.9% last month. While this is better than the 10%+ at the peak of the recession, it seems like a small gain from the 8% average over the last several years.

 

U.S. Unemployment Rates

As for Kansas, the unemployment rate now lies at 5.9%, far below the national average. However, Kansas City (KS) has continued to stay above the state average with a current unemployment rate of 8%. While this is a huge improvement from the 15.6% rate in January 2009 and the 10% rate in January 2012, it still seems as though the economy is stagnating.

 

Unemployment Rates for Kansas City Since January 2009

What does this mean for you? It means that Kansas City continues to improve economically, but the progress has been slow and arduous. While the future looks to be bright, it may be a long time before Kansas City’s unemployment rate falls to pre-recession levels.

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