Date of this Version
Business in Nebraska vol. 56, no. 651
Despite the robust national economy, Nebraska's economy has started an employment growth slowdown.1 The slowdown is the result of tight labor markets across the state and the impact of a continuing decline in the agricultural sector.
The current situation is not unusual. Past studies indicate that, with the possible exception of durables manufacturing, Nebraska's business cycle has little relation to the national business cycle. In contrast, there is a strong tie between the state's overall economic cycle and its agricultural cycle. It is not a case of agriculture dominating the state's economy, but that losses in agriculture will take critical points from the state's overall economic growth rate-part of the current malaise.
Nonfarm Personal Income
Net Taxable Retail Sales