Nebraska has a strong economy right now, especially compared to most of the rest of the country. There are a number of factors that go into what makes the “best” state economy, but one of the biggest is employment.
Here are Five Fast Facts on Nebraska’s employment situation:
- 🧑💼The Big Picture - Employment counts as a full third of the ranking for the best economy. There are three parts: job growth, unemployment rate, and labor force participation rate. It’s a job trifecta, if you will.
- 🏅Where We Ranked - Nebraska ranks 30th, 14th, and 3rd, respectively, in those categories, for an overall ranking of 8th! We need a few more of those accelerator thingies, and we’ll really be cooking!
- 📈Job Growth - In this study, job growth looks at the 3-year period from 2016-2019 and measures the number of civilian non-institutional jobs created.
- 📉Unemployment Rate - The unemployment rate uses the 2019 annual summary of the number of unemployed folks on a monthly basis. Aaaaand we already know we rock that!
- 🙌Participation Rate - The labor force participation rate compares the total number of residents age 16+ to the number of residents age 16+ who had a job, based on the US Census Bureau. Recruiters for college football coaches count double, because they’re THAT important.
🔥Bottom line: This is all great to see! Our state is strong, and our economy is resilient. While it’s nice to see confirmation from reputable third party sources, it’s even nicer that it’s our reality here. All of this means good Paychecks for lots of people, and that’s the bottom line!
How’s the local economy treating you right now? (Try to ignore the idiocy from Washington DC when you answer that!)
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