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Kansas

 
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PostPosted: Sun May 01, 2016 3:09 pm    Post subject: Kansas Reply with quote

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Since Brownback became Governor, there’s been a steep rise in Leisure and Hospitality.

http://data.bls.gov/timeseries/SMS20000007000000001?data_tool=XGtable

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California is not socialist, because there are lots of super rich and rich people, who live really well. Obviously, Kansas needs a steady stream of super rich and rich people, like California, or at least attract top talent from everywhere else, to build more $1 million to $20 million houses.

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If a state is already business-friendly, e.g. low taxes, small government, low cost of living, etc., making it a little more business-friendly may have little effect to attract or start-up businesses. Also, Kansas is in the boondocks, far away from megatropolises, which tend to generate business activity.

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The Kansas tax cut, which took effect in 2013, wasn’t ideal, neither was the tax hike last year, and perhaps some spending cuts. However, every economic recovery is different. Kansas may be near or at full employment. Its unemployment rate matches the 2007 peak – 4.3% – and it’s labor force participation rate is slightly lower than the 2007 peak – 68% vs 70% – which is still much higher than the U.S.. This may be attributed, in part, to its aging workforce. Ironically, Kansas has attracted more low skilled/paying jobs, e.g. in the Leisure & Hospitality Industry, which is booming, although net migration is negative, with slow population growth. Nonetheless, Hispanic net migration is positive.

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Someone has to produce for the growing retired population, with lower incomes after retiring, and Hispanics work cheap. That’s been the plan of many politicians.

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Slower or less U.S. economic growth likely negatively affect some states more than others. For example:

“When the drought and Great Depression hit in the early 1930s, the wheat market collapsed. Once the oceans of wheat, which replaced the sea of prairie grass that anchored the topsoil into place, dried up, the land was defenseless against the winds that buffeted the Plains.”

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