Bureau of Business Research
Date of this Version
12-13-2019
Citation
Business in Nebraska, Volume 74, No. 725, December 2019
Abstract
Nebraska will record moderate economic growth during the forecast period but will lag U.S. growth. Like the national economy, growth Nebraska’s goods producing sector will struggle. Farm incomes will be flat from 2020 to 2022 after improving this year. Manufacturing employment also is expected to drop. However, most other sectors will expand, including services, finance and construction. Projected growth rates for 2020 to 2022 are presented in Table 1.
Employment will grow by 0.6% to 0.8% per year, below the national rate. Non-farm income will grow between 3.7% and 3.8% each year. This growth readily exceeds inflation and population growth, implying growth in real per capita income in Nebraska from 2020 through 2022. Income growth expectations are consistent with moderate improvement in real hourly wages.
Included in
Growth and Development Commons, Labor Economics Commons, Macroeconomics Commons, Other Economics Commons, Public Economics Commons, Regional Economics Commons
Comments
Copyright 2019 University of Nebraska, Bureau of Business Research