Nebraska Economy Expecting Modest Growth in 2013 - KHGI-TV/KWNB-TV/KHGI-CD-Grand Island, Kearney, Hastings

Nebraska Economy Expecting Modest Growth in 2013

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State forecasters said Friday they are expecting modest economic and employment growth across Nebraska this year.

Farm incomes are expected to recede from their recent all-time highs as well as a slow down for non-farm income growth.

In its latest long-range report, the Nebraska Business Forecast Council said it anticipates Nebraska's total job growth to be 1.3 percent by the end of 2013 and then tick up -- by 1.5 percent -- in 2014.

The council is expecting weather conditions and unease regarding national fiscal policy to limit economic growth in Nebraska.

Eric Thompson, associate professor of economics and director of the Bureau for Business Research at the University of Nebraska-Lincoln College of Business Administration said, "We continue to anticipate moderate economic growth in Nebraska in 2013 overall, with the pace of growth accelerating late in the year and in 2014."

The report added that all major areas of the Nebraska services industry are expected to add employment in the next two years: Health care employment is expected to grow by 2 percent and 2.5 percent in 2013 and 2014, respectively.

Similar rates are expected in the hospitality industry. The overall services industry is expected to grow by 2 percent this year and 2.3 percent next year -- an estimated 8,600 jobs this year alone.

 

 

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