The Lawrence-area economy is growing again, despite a recent downturn in electric use and construction, a new report shows.
An economic analysis prepared by Kansas University's Institute for Public Policy and Business Research found that retail activity picked up in Lawrence and Douglas County during the second three months of 1999.
Local sales tax collections in the county reached nearly $2.6 million during the quarter, up 5.7 percent from a year earlier. In Lawrence, collections hit $2.4 million, up 6.1 percent.
The report assessed a number of economic indicators, and compared them to results from the same period a year ago. Among them:
- Tourism: Guest-tax collections -- charged on overnight hotel stays -- increased 18 percent, to $144,965.
- Financial institutions: Loans increased 3.4 percent, to $819 million. Deposits increased 8 percent, to $922.5 million.
- Labor: The civilian labor force increased 2.7 percent, adding 1,466 people. Total employment increased 3.8 percent, meaning 1,958 more people were working. That meant unemployment was 3.7 percent for the period, down from 4.7 percent a year earlier.
- Residential construction: Single-family home construction jumped by 2.9 percent in number and 17.3 percent in value. Multifamily residences dropped by 50 percent in number of permits and units, and by 25 percent in value.
- Electricity: Usage declined by nearly 1 percent
-- Mark Fagan's phone message number is 832-7188. His e-mail address is mfagan@ljworld.com.
No comments
Commenting is turned off for this story.