Connect with us

Nebraska

Nebraska economic indicator increases 0.42% in April

Published

on

Nebraska economic indicator increases 0.42% in April


LINCOLN, Neb. (Nebraska Today) – Nebraska’s Leading Economic Indicator, designed to predict economic activity six months into the future, rose 0.42% in April.

“The monthly report suggests the Nebraska economy will grow during the fourth quarter of 2024,” said economist Eric Thompson, director of the Bureau of Business Research, department chair and K.H. Nelson College Professor of Economics. “Overall, while the Nebraska economy struggled in the first quarter of 2024, growth is expected to accelerate mid-year and continue through to the fourth quarter.”

The six components of the indicator are business expectations, building permits for single-family homes, airline passenger counts, initial claims for unemployment insurance, the value of the U.S. dollar and manufacturing hours worked. Three components improved during April.

Advertisement

“Nebraska manufacturing hours worked grew again in April, as the state and national manufacturing industry continued to strengthen,” Thompson said. “The labor market also strengthened during April.”

Business expectations were positive, as respondents to the April Survey of Nebraska Business reported plans to increase sales and employment over the next six months. Initial claims for unemployment insurance also fell.

Read the full report and a technical report describing the indicators.

Click here to subscribe to our 10/11 NOW daily digest and breaking news alerts delivered straight to your email inbox.

Advertisement



Source link

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Nebraska

Pillen officially announces intent to call special session for Nebraska tax reform

Published

on

Pillen officially announces intent to call special session for Nebraska tax reform


LINCOLN, Neb. (WOWT) – Nebraska Gov. Jim Pillen took the next step in securing a special session in the state’s legislature this summer.

Gov. Pillen on Tuesday sent a letter to Speaker John Arch, officially announcing his plans to call senators back to Lincoln on July 25. The purpose of the session is to make more headway on addressing property taxes in Nebraska.

“In my sine die address in April, I stated that I would call a special session this summer to facilitate another opportunity for us to meet Nebraskans’ demand that their elected leaders fix this crisis now,” read the Governor’s letter, in part. “I have traveled extensively across the state since the Legislature adjourned and have heard from a wide range of people. Their message is clear: stop this massive overall tax increase by fixing property taxes.”

Gov. Pillen has been hosting town halls across the state over the past two months since the legislative session ended, working to educate Nebraskans on what he calls a “tax crisis.”

Advertisement

He still has several of those meetings planned:

Wednesday, June 26

1:30 p.m. (CT) Columbus: Columbus Chamber of Commerce, 753 33rd Ave, Columbus

Thursday, June 27

10:00 a.m. (CT) Valentine: Mid Plains Community College, 715 E Hwy 20, Valentine

Advertisement

1:00 p.m. (MT) Chadron: Chadron State College, Student Center – Lakota Room, 1000 Main Street, Chadron

4:30 p.m. (MT) Alliance: Westside Events Center, 2472 County Road 62, Alliance

Friday, June 28

8:30 a.m. (MT) Ogallala: Petrified Wood Gallery, 418 East 1st Street, Ogallala

1:00 p.m. (CT) McCook: Coppermill Steakhouse, 202 Coppermill St., McCook

Advertisement

4:00 p.m. (CT) Lexington: Central Community College – The Opportunity Center, 1501 Plum Creek Pkwy, Lexington

Along with slashing property taxes, Gov. Pillen also wants to ensure that the legislature knows he will call a special session regarding other “unfinished business” leftover from the 2024 legislative session, which could include Nebraska’s move to a “winner-take-all” state during elections.



Source link

Advertisement
Continue Reading

Nebraska

Nebraska Unemployment Rate Unchanged at 2.5% in May

Published

on

Nebraska Unemployment Rate Unchanged at 2.5% in May


Nebraska’s unemployment rate in May was unchanged at a seasonally adjusted rate of 2.5%. That rate is unchanged from September 2023 and up 0.4% from May 2023.

Nebraska’s rate is the fourth lowest in the nation.  The national seasonally adjusted unemployment rate for May 2024 is 4.0 percent, up 0.1 percentage points from the April 2024 rate of 3.9 percent and up 0.3 percentage points from the May 2023 rate of 3.7 percent.

“Nebraska’s total nonfarm employment has been on an upward trajectory since February and reached an all-time high in May at 1,077,200,” said Commissioner of Labor John H. Albin. “Omaha’s leisure and hospitality industry saw a large gain over the month, with all the metro areas reaching record highs in total nonfarm employment.”

Further details are available here

Advertisement

 



Source link

Continue Reading

Nebraska

Nebraska International Port of the Plains discusses progress of port development project

Published

on

Nebraska International Port of the Plains discusses progress of port development project


NORTH PLATTE, Neb. (KNOP) – The Nebraska International Port of the Plains Authority held their regular monthly meeting Tuesday afternoon at the Lincoln County Courthouse.

Although four members were absent from the meeting, those present proceeded in reviewing what progress has been made so far for the port development project.

In attendance at Tuesday’s meeting were members of the Nebraska Department of Economic Development Ben Goins and Jessica Anderson. Goins and Anderson clarified questions from members about the recent $5 million grant the authority received from the department.

Also at the meeting was Gary Person from the North Platte Area Chamber and Development. Person reported on the many conversations he had with local businesses and the Union Pacific Railroad as a plan starts to finalize for the port project.

Advertisement

Port Authority Vice President Patrick Keenan said all of the cooperation between groups involved has made the port project advance extremely well, but that the project will take time to finish

”There are a lot of people working hard to make this happen, and we appreciate the patience, like any big project,” Keenan said. “Nothing happens easy and nothing happens too quickly, so bear with us, there’s a great learning curve, but we have a lot of good people working hard.”

The port project will bring intermodal traffic to an area of land just east of Hershey along Highway 30. With the port’s location near the Union Pacific Bailey Yard, Lincoln County will become one of the largest areas for rail traffic in the country. Vice President Keenan expressed his excitement for the growth of the area.

“Anything we can do to add volume and add more activity through the area is a good thing,” Keenan said.

The next regular meeting for the Port of the Plains will be on Monday, July 22, 2024 at 2 p.m. in the Lincoln County Commissioner’s office at the Lincoln County Courthouse.

Advertisement

Click here to subscribe to our KNOP News 2 daily digest and breaking news alerts delivered straight to your email inbox.



Source link

Continue Reading

Trending