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Economic recovery slowing down in Kansas, analysts say

Published: Oct. 15, 2020 at 7:56 PM CDT
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WICHITA, Kan. (KWCH) - Federal Reserve officials don’t expect to see a full recovery to the national economy until 2023. In Kansas, economic recovery could take even longer as unemployment claims continue in record numbers.

The state’s economy has recovered in some aspects, but analysts say the overall recovery is slowing down in Kansas. In the last month, the state has seen 70,000 to 80,000 Kansans file for unemployment each week. Looking over these claims, analysts believe the state has stalled in its recovery.

“We look in the Sunflower State and we see a trend that we’ve seen all over the country in the last week. Claims are elevated,” said ? We have people who are seeking new unemployment benefits."

Unemployment claims in Kansas spiked in March at the start of the COVID-19 pandemic. Seven months later, claims continue in record numbers.

“This is consistent with what we’ve been seeing for some time now. Basically, since mid to late August, nationally, we’ve seen no substantial improvement in the number of claims for the very first time,” ? said.

With the aviation industry continuing to struggle, economic recovery could take years in Kansas.

“It’s expected to be a very long journey before the economy gets back to pre-pandemic levels,” ? said. “The state of Kansas is facing some unique challenges in respect to the economic recovery. We think about two areas of real pain that are being suffered in the economy right now, and it’s agriculture and aviation.”

Another harsh reality is that even after months of negotiations, Congress won’t likely make a deal on another stimulus package until after the Nov. 3 general election.

Copyright 2020 KWCH. All rights reserved.

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