December 7, 2021
Nebraska's 1.9% unemployment rate the lowest on record in US

Nebraska’s 1.9% unemployment rate the lowest on record in US

OMAHA, Neb. — Nebraska’s unemployment rate fell to a mere 1.9% final month, which was the lowest any state has reached since knowledge assortment started in 1976, in response to labor statistics launched Friday.

The October rate reported by Nebraska’s labor division and the Bureau of Labor Statistics marked the first time a state’s unemployment rate dropped beneath 2%. Spokespeople for each companies confirmed that Nebraska’s rate is the nation’s lowest on record.

Nebraska has maintained its standing as the state with the lowest rate via a lot of the pandemic. It is 1.9% rate for October was down barely from the September rate of two%.

Nebraska Labor Commissioner John Albin mentioned complete nonfarm employment has risen by greater than 30,000 from October of final 12 months. The state reported 1,031,001 stuffed jobs in October, which was 10,718 greater than the earlier month.

Nebraska has struggled with a continual employee scarcity since even earlier than the pandemic, and it has pushed up wages and made it tough for employers to rent and broaden. Earlier this month, the Nebraska Chamber of Commerce & Trade launched a survey of its members the place 92% mentioned discovering expert staff was a high precedence.

“We’ve got lots of producers throughout the state which are discovering it tough to broaden their operations” in the face of rising shopper demand, mentioned Bryan Slone, the chamber’s president.

Nebraska and different rural states usually have unemployment charges decrease than the nationwide common for a mix of causes, together with fewer individuals per job, extra jobs with ties to agriculture and meals manufacturing which are thought-about important, and insurance policies that discourage unemployment.

The OpenSky Coverage Institute, a Nebraska-based tax coverage assume tank, has additionally argued that the unemployment rate is an incomplete image of the state’s financial well being as a result of it would not rely individuals who have stopped searching for work. A few of these instances contain individuals who retired early throughout the pandemic or left the workforce to take care of family members.

In Nebraska, a lot of final month’s non-public job development was pushed by the training, well being care, transportation and monetary industries. The leisure and hospitality sectors have rebounded as effectively over the final 12 months after taking an enormous hit throughout the pandemic.

The unemployment charges have been even decrease in the state’s two largest metropolitan areas, Omaha and Lincoln. The Omaha space’s rate in October was 1.7%, whereas the Lincoln space’s was 1.3%.

The nationwide, seasonally adjusted unemployment rate in October was 4.6%, down 0.2 share factors from the earlier month.

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Observe Grant Schulte on Twitter: https://twitter.com/GrantSchulte



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