Nebraska's Employment Reaches New High, Revenue Receipts Exceed Forecast

Statement

Today, the Bureau of Labor Statistics released Nebraska's May employment data. Nebraska's employment set another record high of 1,042,762. This is the 11th straight month of record employment in the state. Additionally, Nebraska's unemployment rate remains the lowest in the nation, and in state history, at 1.9 percent.

This growth has contributed to another month of strong State General Fund tax receipts. In May, receipts were over $52 million above forecast. May's tax receipts put Nebraska on track to have over $1.8 billion in its cash reserve at the end of fiscal year 2023.

"Nebraskans have an unmatched work ethic, which is reflected in our nation-leading labor numbers," said Gov. Ricketts. "My administration is committed to making it easy to do business in Nebraska, and communities throughout the state have done great work to attract investment. We're seeing the fruits of these efforts with impressive growth in the Good Life. Our strong momentum will enable us to build on the historic tax relief of 2022 with even more tax cuts in 2023."

Nebraska's Employment Statistics for May 2022 (Preliminary)

Unemployment Rate: 1.9%
#1 in the nation
Lowest unemployment in the nation's history
Lowest unemployment rate in Nebraska's history
Labor Force Participation: 70.0%
#1 in the nation
Employment-to-Population Ratio: 68.7%
#1 in the nation

Source