Creighton survey: Nebraska economy in freefall

Nebraska’s economy is still sliding into negative territory, according to a monthly survey of business leaders across the region. Creighton University economist Ernie Goss says the November survey was the third month in a row for a fall in the state’s key economic numbers. 
Goss says the survey of supply managers finds Nebraska with very weak numbers, in fact, some of the weakest numbers since the survey was started in 1994. In the past year, Goss says Nebraska has lost one-point-three percent of its manufacturing jobs, while the global and national economic recessions will quicken the pace of job losses for months to come. 
Nebraska’s economy is being hurt by a pull-back in exports and in a slowdown in farm income, while Goss ties the state’s economic struggles to those of the nation. He says the nine-state Midwest region is suffering right along with the rest of the nation.
North Dakota is seeing continued positive growth but as for the other eight states, Goss says, “We’re going to see rising unemployment rates, job losses and a real economic slowdown well into 2009.” Unlike the national economy which entered a recession in the third quarter, Goss says the final quarter of 2008 will be the first quarter of negative growth for Nebraska’s economy.