The Japanese earthquake and tsunami could definitely have an impact on Nebraska’s economy.
“About 20, 30 to 35,000 jobs depend on trade with Japan.”
Creighton University Economics Professor Dr. Ernie Goss says there has been a small drop in the price of a barrel of oil worldwide and this has a direct link to the tragedy in Japan.
“When the transportation system gets back up and running at least semi-normal we will get back to that trade but the impact will be fairly significant right now.”
Goss expects oil prices to rebound as Japan slowly gets its transportation system rebuilt an in full operation.
“This is a slowdown in the overall global economy and a real reduction in demand.”
Goss says Japan is Nebraska’s number three trading partner in the world.