An economic index from the University of Nebraska-Lincoln suggests the state’s economy will continue to grow, albeit slowly.
Nebraska’s leading economic indicator, which is designed to predict economic activity over the next six months, rose 0.3% in October, according to the latest report from UNL’s Bureau of Business Research.
“The modest rise in the leading indicator suggests that economic growth will continue in the first half of 2024, but growth will be slow,” said economist Eric Thompson, director of the Bureau of Business Research.
The six components of the Leading Economic Indicator are business expectations, single-family home building permits, airline passenger numbers, initial unemployment insurance claims, the value of the U.S. dollar and hours of production.
Two out of six indicator components improved significantly in October.
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Single-family home building permits increased after declining in the previous three months, but Thompson said the increase “may reflect a recovery from low levels rather than the start of sustained growth.”
In Nebraska, business expectations were also positive in October.
“Nebraska companies reported plans to increase employment over the next six months,” Thompson said.
The UNL report was much less pessimistic than a report released by Creighton University earlier this month.
The Rural Mainstreet Report, which covers a 10-state region, showed economic activity hit its lowest level in three years in November. The report also found that economic activity in Nebraska was lower than the region as a whole.
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States with the most job vacancies in September
States with the most job openings in February
The number of jobs for which employers have reported they are hiring is falling month over month, a trend that continued in February, according to the latest figures from the Bureau of Labor Statistics.
Stacker used BLS data to rank states by their job opening rates in February, using the number of job openings as a sample when necessary. The job vacancy rate is calculated as the number of job vacancies per total number of jobs – filled or open – in a state. February estimates are preliminary.
There were 9.9 million job openings nationwide in February, down about 6% from the previous month. The national job vacancy rate was 6% in February, meaning about 1 in 20 of all jobs in the economy are unfilled. And some analysis has found that jobs that offer the ability to work remotely are also dwindling.
The increase in job losses in February was the largest recorded increase since the financial crisis in 2009. Employers have shed jobs, citing economic uncertainty and difficult financial conditions as a result of higher interest rates. Cuts made during the month represented a five-fold increase from the previous month, according to a report from outplacement firm Challenger, Gray and Christmas Inc.
But even if employers lay off some workers early in the year, job vacancies remain at much higher levels than in any previous decade for which the BLS has collected data.
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#51. new York
– Vacancy rate: 4.2%
– Number of vacancies: 421,000
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#50. Washington, D.C
– Vacancy rate: 4.9%
– Number of vacancies: 40,000
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#49. Washington
– Vacancy rate: 4.9%
– Number of vacancies: 188,000
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#48. Indiana
– Vacancy rate: 5.1%
– Number of vacancies: 175,000
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#46. Utah
– Vacancy rate: 5.4%
– Number of vacancies: 98,000
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#45. Arizona
– Vacancy rate: 5.4%
– Number of vacancies: 181,000
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#44. Hawaii
– Vacancy rate: 5.5%
– Number of vacancies: 37,000
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#43. Wisconsin
– Vacancy rate: 5.5%
– Number of vacancies: 174,000
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#41. Connecticut
– Vacancy rate: 5.6%
– Number of vacancies: 100,000
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#40. Oregon
– Vacancy rate: 5.7%
– Number of vacancies: 121,000
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#39. Ohio
– Vacancy rate: 5.7%
– Number of vacancies: 336,000
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#38. New Jersey
– Vacancy rate: 5.8%
– Number of vacancies: 268,000
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#36. North Dakota
– Vacancy rate: 5.9%
– Number of vacancies: 27,000
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#35. New Hampshire
– Vacancy rate: 5.9%
– Number of vacancies: 44,000
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#34. Idaho
– Vacancy rate: 5.9%
– Number of vacancies: 53,000
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#33. Nebraska
– Vacancy rate: 5.9%
– Number of vacancies: 65,000
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#31. Florida
– Vacancy rate: 5.9%
– Number of vacancies: 611,000
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#30. Kansas
– Vacancy rate: 6.0%
– Number of vacancies: 92,000
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#29. Iowa
– Vacancy rate: 6.0%
– Number of vacancies: 102,000
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#28. Texas
– Vacancy rate: 6.0%
– Number of vacancies: 888,000
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#26. Missouri
– Vacancy rate: 6.2%
– Number of vacancies: 196,000
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#25. Illinois
– Vacancy rate: 6.2%
– Number of vacancies: 407,000
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#24. Kentucky
– Vacancy rate: 6.3%
– Number of vacancies: 135,000
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#23. Rhode Island
– Vacancy rate: 6.4%
– Number of vacancies: 34,000
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#21. Nevada
– Vacancy rate: 6.4%
– Number of vacancies: 105,000
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#20. Alabama
– Vacancy rate: 6.5%
– Number of vacancies: 148,000
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#19. Massachusetts
– Vacancy rate: 6.5%
– Number of vacancies: 258,000
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#18. Maine
– Vacancy rate: 6.6%
– Number of vacancies: 46,000
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#16. South Dakota
– Vacancy rate: 6.7%
– Number of vacancies: 33,000
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#15. Montana
– Vacancy rate: 6.7%
– Number of vacancies: 37,000
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#14. Mississippi
– Vacancy rate: 6.7%
– Number of vacancies: 85,000
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#13. Tennessee
– Vacancy rate: 6.9%
– Number of vacancies: 246,000
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#11. Delaware
– Vacancy rate: 7.0%
– Number of vacancies: 36,000
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#10. Colorado
– Vacancy rate: 7.0%
– Number of vacancies: 218,000
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#9. Pennsylvania
– Vacancy rate: 7.0%
– Number of vacancies: 458,000
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#8th. South Carolina
– Vacancy rate: 7.1%
– Number of vacancies: 175,000
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#6. Virginia
– Vacancy rate: 7.2%
– Number of vacancies: 321,000
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#5. Arkansas
– Vacancy rate: 7.3%
– Number of vacancies: 106,000
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#4. West Virginia
– Vacancy rate: 7.5%
– Number of vacancies: 57,000
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#3. Louisiana
– Vacancy rate: 7.5%
– Number of vacancies: 158,000
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#1. Georgia
– Vacancy rate: 7.9%
– Number of vacancies: 421,000
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Reach the author at 402-473-2647 or [email protected].
On Twitter @LincolnBizBuzz.
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