LINCOLN, Neb. (AP) — Economists are forecasting Nebraska's farm income to drop nearly 45 percent this year due to lower crop prices and reduced government payments.
But according to the latest three-year forecast of the state's economy, Nebraska's farm income is expected to stabilize in 2016 and 2017. Non-farmers should anticipate their personal income to grow solidly through 2017.
The report is by the Bureau of Business Research at the University of Nebraska-Lincoln and the Nebraska Business Forecast Council.
Nebraska job growth is expected to lag behind the national average due to the anticipated farm income decline. Nebraska jobs are predicted to grow at a rate of 1.2 percent, or 12,000 jobs a year, through 2017.
The U.S. economy is expected to have a job-growth rate of 1.7 percent for 2015 and 2016.
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