Eric Thompson, director of the University of Nebraska Lincoln Bureau of Business Research, says their forecast shows the non-farm economy will have solid growth through 2019.
“We think employment will grow by about 1% per year in the state, which is about 10,000 new jobs each year,” Thompson says. “Strong sectors will include construction, health care, business services and entertainment and recreation, and the finance sector.”
Thompson says, however, the weak farm economy will continue to hamper Nebraska’s economic growth during the next three years.
“Agriculture is one sector of the economy where growth will be poor,” he says. “We’re expecting ag income, farm income to actually drop again in 2017 and then bounce back but only slightly in 2018 and 2019.”
Thompson says farm income is expected to rise four-percent next year and more than seven-percent the following year mostly as a result of improved productivity. He says they don’t expect a rebound in crop prices.
Thanks to Jane Monnich, KLIN