Date of this Version
Business in Nebraska vol. 54, no. 642
Tight labor markets will contribute to a job growth slowdown. Overall job growth will be 2 percent in 1999, slowing to 1.8 percent in 2000 and 1.7 percent in 2001 (Figure 1). The forecast of slow job growth can be mitigated if Nebraska improves its ability to draw workers from other states; however, labor markets in other states also will be tight in the next few years.
Nebraska's nonfarm income will hold up well despite the job growth slowdown. Wages are anticipated to grow rapidly over the near term causing total wages and salaries to g row over 6 percent in each of the three forecast years. Total nonfarm personal income growth will average 5.5 percent each year in the same time period.
Nonfarm Personal Income
Net Taxable Retail Sales