Kan. Economy continues to show signs of recovery

economy

TOPEKA, KAN. — During her first State of the Labor address Wednesday morning, Secretary of Labor Lana Gordon said several economic factors have improved in 2012 for Kansans. A number of labor market indicators showed continued progress while working their way up to pre-recession levels.

The 2013 Economic Report, released today, provides a valuable analysis and collection of data regarding the state’s economic condition over the past year.

The average unemployment rate in 2012 was 5.7 percent, down from 6.5 percent in 2011. This is the lowest unemployment rate in the state since 2008. The U.S. average unemployment rate was 8.1 in 2012.

Both the nominal and real Gross Domestic Product (GDP) in Kansas grew for the third consecutive year in 2012. The nominal GDP rose to $139 billion, a 3.1 percent increase. The U.S. nominal GDP rose by 4 percent.
Kansas export sales increased for the eighth time in the past nine years to $11.7 billion in 2012. This was the second highest export total ever recorded in the state.

In 2012, Kansas added 18,100 non-farm jobs, a 1.4 percent increase. This is the highest job growth the state has seen in the past five years. The professional and business services industry saw the largest increase, gaining 4,900 jobs.

The 2013 Economic Report can be viewed at http://www.dol.ks.gov.

blog comments powered by Disqus