Date of this Version
VOLUME 6 NO 1
Summary of Business Conditions
►The Quarterly Business Indicators for the 2nd quarter of 2014 show a surging Lincoln economy. Nearly all segments of the Lincoln MSA economy are growing, and many growing strongly.
►The Lincoln MSA unemployment rate continues to decline (Figure 1) and remains less than half of the U.S. rate (Figure 2). Employment growth is very strong. Non-farm employment, which is measured via a survey of business, grew by a rapid 2.6% in the Lincoln MSA between the 2nd quarter of 2013 and 2014 (Figure 4). Local employment estimates based on a survey of households indicated 1.6% growth in employed persons (Table 1).
►Taxable sales rose solidly in the Lincoln MSA between the 2nd quarter of 2013 and 2014 (Figures 9 and 10 and Table 1). Building permits also rose in Lincoln, by 13.5% over the last year (Figure 6). This compares to slow growth nationwide.
►Among individual industries, construction, other financial services (primarily banking), health care and education, and state government employment all grew rapidly in the Lincoln MSA over the last year, both in absolute terms and relative to the nation (Table 1). Job growth in most other key industries was just below the national average (Table 1).
►There were just a few weak spots in the Lincoln economy. Insurance employment declined (Table 1). Also, average weekly work hours worked fell by 0.9% in the Lincoln MSA over the last year (Figure 8) while rising slightly nationwide.