After a couple of phenomenal years, Nebraska’s economy will slow enough in the next three years for the rest of the nation to catch up. University of Nebraska-Lincoln Bureau of Business Research Director Eric Thompson says it will be a bounce back time for the national economy, with Nebraska not having as far to bounce back.
“I think what’s happening is that over the last four or five years, the Nebraska economy has been stronger than the national economy,” Thompson notes. “This is going to be a big bounce back year for the national economy.”
Therefore, the growth of Nebraska’s economy will be a bit more measured according to Thompson.
“That’s partly related to our slower population growth. Our population growth in Nebraska does lag behind national growth,” Thompson says. “As a result, that’s going to lead to slower growth of the economy in Nebraska versus the national numbers.”
Thompson says job growth has stalled in the transportation sector, a major driver for the Nebraska economy. Growth in retail sales is expected to be strong enough to fuel an increase in retail jobs.