A monthly survey of business leaders in Nebraska finds the state’s economy continuing to gain momentum and strength. Creighton University economist Ernie Goss says the August report marks a full year of growth for the Husker State.
The survey of supply managers and purchasing managers has been very good for Nebraska, Goss says, with the numbers coming in above growth neutral for the past 12 straight months. Much like the rest of the region, Goss predicts slower growth for Nebraska but it’ll still be positive growth in the months ahead.
Nebraska’s unemployment rate is at 4.7%, about half the national jobless rate of 9.5%. Goss says that’s remarkable and he notes many ag-based states in the Midwest are seeing equally low numbers.
“The unemployment rates that we’ve been seeing are much-envyed by other states across the U.S.,” Goss says. “In Nebraska, part of that growth has been connected to transportation, particularly the railroads.”
Goss says truck transportation hasn’t been as strong as railroads, but he expects that to pick up if there’s an increase in construction. Durable goods producers in the state are increasing output at a brisk rate, Goss says, even as they add jobs at a much slower pace.