Economy

Economy
11:13 am
Tue August 19, 2014

Both State Unemployment Rate And Private-Sector Jobs Higher In July

The Kansas Department of Labor says the state's unemployment rate and the number of private-sector jobs both edged higher in July.

The agency reported yesterday that seasonally adjusted unemployment rate rose to 4.9 percent in July from 4.8 percent in June.

The report also said the private sector added a seasonally adjusted 900 jobs from June to July.

Economy
11:46 am
Fri August 8, 2014

Consumer Spending Grows Faster In Kansas Than In Neighboring States

New information from the U.S. Department of Commerce shows consumer spending in Kansas grew slightly faster than most of its closest neighbors in 2012.

However, average per-person spending was among the lowest in the region.

In the Department of Commerce's report, Kansas ranks in the middle of most categories, including how much residents have spent on housing, utilities and health care.

In 2012, per-person spending averaged $35,498 nationally and $32,523 in Kansas.

Economy
9:13 am
Thu August 7, 2014

Kansas Credit Rating Downgraded By Second Bond-Rating Agency

A second leading bond-rating agency has downgraded its credit rating for Kansas, citing what it calls the state's "structurally unbalanced budget" following massive personal income tax cuts.

Standard & Poor's (S & P) said today that it is dropping its rating for Kansas to AA from AA+. The agency also dropped its rating for bonds backed by state tax dollars.

Moody's Investor Services downgraded its credit rating for Kansas in May.

Economy
10:29 am
Fri July 25, 2014

Bombardier To Cut 1800 Jobs Worldwide

Airplane maker Bombardier Inc. is cutting 1,800 jobs across facilities worldwide as it restructures operations.

Spokeswoman Isabelle Rondeau with the Montreal-based company said Thursday that Bombardier plans to reorganize the company into four business segments before Jan. 1.

Bombardier says production-related jobs will not be affected. It plans a 15 percent reduction in what the company calls "indirect functions," such as human resources, finance and communications.

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Economy
11:57 am
Wed July 23, 2014

KS Kids’ Economic Well-Being On Downward Trend

The annual KIDS COUNT Data Book ranks Kansas 15th overall for child well-being. While that’s one spot higher than last year in the overall state rankings, Bryan Thompson reports the numbers aren’t so good, in terms of the economic well-being of Kansas kids.

Shannon Cotsoradis, who heads the advocacy group Kansas Action for Children, says Kansas families are struggling, economically.

“In 2012 we have 19% of children living in poverty,” she says. "That’s unchanged from 2011, but the trend has increased significantly over time. Just a few years ago, we were at 15%.”

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Economy
5:00 am
Tue July 15, 2014

Wichita Tops Abandoned Homes List

A recent report listed Wichita as having the highest percentage of abandoned homes in foreclosure among the nation’s largest metro areas. KMUWs Abigail Wilson has more…

Of the 301 properties in foreclosure in Wichita right now, nearly half stand vacant and abandoned.

A June report by real estate information company RealtyTrac says the properties, known as zombie foreclosures, are homes where the foreclosure process has been started, but never finished by the homeowner or the bank.

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Economy
12:18 pm
Tue July 1, 2014

Kansas Revenue Secretary: June's Missed Estimates Pushes Shortfall To Nearly $338M For 2014

Kansas Revenue Secretary Nick Jordan says June’s tax collections missed estimates by $28 million, pushing the shortfall for the fiscal year that ended Monday to nearly $338 million.

Preliminary figures released Monday showed Kansas collecting nearly $5.5 billion in taxes and fees in fiscal 2014. Forecasters whose projections help the state build its annual budget had expected Kansas to take in about $5.8 billion during the year.

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Economy
11:44 am
Wed June 18, 2014

More Than 300 Kansans Will Recieve Payments From A Suntrust Banks Settlement

Attorney General Derek Schmidt says more than 300 Kansas consumers will be eligible for payments under a settlement between 48 states, the federal government and SunTrust Banks Incorporated.

The U.S. Justice Department said Tuesday the $968 million settlement resolves allegations that SunTrust underwrote and provided faulty mortgage loans. The federal government accused SunTrust of giving borrowers false and misleading information and charging unauthorized fees.

The agreement is with SunTrust Mortgage, a Virginia-based mortgage lender and subsidiary of SunTrust Banks Inc.

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Economy
2:52 pm
Mon May 5, 2014

Lawrence Is The Most Expensive Place To Live In Kansas

New figures from the federal Bureau of Economic Analysis show that Lawrence is the most expensive metro area in Kansas.

The bureau’s report shows that although the city’s cost of living is lower than the national average, it’s higher than in any other metro area in Kansas.

Lawrence residents also earn less than residents in other Kansas communities.

The new figures are part of a project by the Bureau of Economic Analysis designed to give people a better idea of how much it costs to live in various metro areas.

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Economy
11:48 am
Thu April 17, 2014

Kansas Lawmakers Prepare For 2015 Fiscal Forecast

Kansas officials are preparing a new fiscal forecast to guide Governor Brownback and lawmakers in making budget decisions.

The forecasters include legislative researchers, members of Brownback’s budget stuff, Department of Revenue officials, and university economists.

They’re meeting this afternoon to revise earlier revenue projections for the current fiscal year and for the fiscal year beginning in July.

Since July 2013, the state has collected $141 million dollars more than anticipated.

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