'Nebraska snaps back': Forecasters boost outlook for state's economy
Monday, February 05, 2018
Nebraska forecasters have boosted their outlook for the state’s economy and now expect the state will match the nation’s growth in jobs and income through 2020.
That’s partly under the assumption that pro-growth deregulation and tax changes will outweigh anti-growth foreign trade restrictions and obstacles to immigrants joining the state’s tight labor market, said University of Nebraska-Lincoln economist Eric Thompson.
Compared with last June’s report from the Nebraska Business Forecast Council, “it’s somewhat more positive,” Thompson said Friday while discussing the council’s latest predictions.
He also is director of UNL’s Bureau of Business Research, which issued the forecast in a newsletter headlined “Nebraska snaps back.”
Even the farm sector will get some relief, Thompson said, with nearly 6 percent higher income in 2018 followed by flat income in 2019 and 2020.