Region Index Shows Manufacturing Sector Sheds 800 Jobs In January

Posted February 5, 2024

Creighton University released its Mid-America Manufacturing Index which shows job losses in the sector across all states in the ten-state region, excluding South Dakota, in January.

The Business Conditions Index (BCI), which uses the national Institute for Supply Management (ISM) methodology ranging between 0 and 100 with 50.0 representing growth neutral, climbed to 50.9 from 50.3 in December.

The employment gauge for the region dropped to 39.1 in January, its lowest reading since June 2020, a decrease from the growth-neutral score of 50.0 recorded in December.

In the past 12 months, the ten-state region’s manufacturing sector shed around 800 jobs compared to the gain of 12,000 U.S. manufacturing jobs.

“Even so, 43.5% of firms reported a shortage of job applicants, while 13.0% reported that their firm was not hiring due to an economic slowdown,” Ernie Goss, Ph.D. at Creighton University said.

Kansas

The BCI for January dropped to 54.0 from 54.1 in December. Additionally, Kansas’ employment for the month came in below growth neutral at 41.8. Kansas’ manufacturing exports expanded from $10.4 billion for the first 11 months of 2022 to $11.3 billion for the same period in 2023, representing a growth rate of 8.2 percent, according to U.S. International Trade Association data.

Missouri

The state’s BCI increased to 50.5 from 46.1 in December. Employment for Missouri also was reported below growth neutral for the month at 39.1. Missouri’s manufacturing exports expanded from $13.1 billion for the first 11 months of 2022 to $14.5 billion for the same period in 2023, representing a growth rate of 10.5 percent, according to U.S. International Trade Association data.