NICK GOSNELL
Hutch Post
HUTCHINSON, Kan. — Creighton University economist Ernie Goss said that his manufacturing survey for March was just below growth neutral and that appears to be consistent with how he sees the economy generally.
"It's an economy that's limping along, I'll say, in the national economy, the regional economy and for that matter, most of the state economies," Goss said. "We have higher inflationary pressures. That came out in the national survey and in our survey. The Federal Reserve is just not going to be able to reduce interest rates like investors think. The stock market, at least the equity market, is sort of getting way ahead of the Federal Reserve and way ahead of the economy."
There are jobs out there, if people want them.
"When we talk about the openings, job openings to each unemployed worker, that's still remaining fairly good," Goss said. "Kansas, you've got two job openings for every unemployed worker. It's lower than it was a couple of years ago, but it's still not bad."
Nonetheless, respondents to the manufacturing survey are not optimistic about the rest of the year.
"Sixty-eight percent said we're either in a recession right now or going to be in a recession in 2024," Goss said. "Nationally, the labor department's reporting jobs, we get really excited about the number of jobs, but a lot of them are part-time jobs. A lot of them are dual job holders."
The US economy added 303,000 jobs last month, according to data released Friday by the Labor Department.
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