Jerry Siebenmark reports the consensus that our local economy is sailing in a sheltered bay while the national economy struggles to stay afloat in a tempest.
"While high gasoline and food prices are having an effect on the area's economy, they are not dramatically slowing it, local economists said Tuesday.
"'Our local economy, for the most part, is doing very well,' said Malcolm Harris, professor of finance at Friends University. 'Aerospace is doing very well, the farm economy is doing well and natural resources -- oil and gas -- is doing very well.'"
Our local unemployment rate is 1.2 percentage points below the national average.
Wednesday, July 16, 2008
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2 comments:
I hope that the effects on gasoline prices in the economy stay the way they are now. Things are pretty stable.
Crazy how just 5 to 6 months later that how unemployment has increased in wichita and now the gas price is going down again. I give Dr. Harris credit though, he did call this enocomic recession when I had him in Micro-Econ class this past spring.
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