November surveys: Confidence persists in solid Nebraska labor market
Consumer and business confidence remained positive in Nebraska during November, according to the latest monthly surveys from the Bureau of Business Research at the University of Nebraska-Lincoln.
“November results confirm that consumer confidence has rebounded in Nebraska,” said Eric Thompson, an economist and bureau director.
Responses to November’s Survey of Nebraska Households indicate that consumer confidence stood at 106.4 during November, well above the neutral level of 100 and just below the October reading of 108.3. Consumer confidence had lagged during mid-2018.
Nebraska business confidence also was solid during November, with a reading of 107.2. This is down from the sky-high reading of 117.3 achieved in October but still well above the neutral value of 100.
Survey responses also revealed good news for Nebraska workers. Relatively few Nebraska households expressed concerns about job security, while businesses reported that workers are scarce. In particular, for the second-consecutive month, the availability and quality of labor was the top challenge reported by respondents to the Survey of Nebraska Business.
“Those findings suggest ample opportunities for Nebraskans looking to enter the labor force or switch jobs,” Thompson said.
The surveys are sent each month to 500 randomly selected Nebraska businesses and households. During November, 137 businesses responded to the Survey of Nebraska Business, for a response rate of 27 percent. There were 122 responses to the Survey of Nebraska Households, for a response rate of 24 percent.