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midwest economy

State health officials announced 198 new cases of COVID-19 in Nebraska yesterday. There are now 20,623 confirmed cases of the virus in the state, and 284 deaths. Hospital capacity is currently at 41 percent, and 78 percent of ventilators are available. Meanwhile, the number of people filing new unemployment claims in Nebraska surged last week to its highest level in nearly two months. The U.S. Department of Labor says 6,143 people filed initial claims for benefits during the week that ended July 4. That’s a roughly 46% increase over the 4,203 new claims from the prior week.

Ricketts Informs Trump Of Nebraska Reopening Plan

Jun 18, 2020

Two Nebraska state officials are meeting with President Trump.  Governor Pete Ricketts and state Director of Economic Development Tony Goins will travel to the White House today.  Ricketts and Goins will present the state's reopening plan to the president.

The Nebraska Farm Bureau says the state potentially faces nearly $3.7 billion in agricultural losses from the coronavirus pandemic if economic conditions do not improve. The Lincoln Journal Star reports the estimate Wednesday projects revenue losses for this year’s commodities. It does not account for any financial assistance farmers and ranchers receive from COVID-19 relief programs.

Nebraska state government could see a boost to its emergency fund over the next few months, but the COVID-19 virus and a panicked stock market are tempering some of those expectations. Members of the Nebraska Economic Forecasting Advisory Board predicted Friday that the state will collect $5.2 billion in tax revenue during the current fiscal year, which ends June 30. That's about $115 million more than the previous projections, and by law, that excess money will go into Nebraska state government's cash reserve fund.

A new survey of bankers suggests the economy is growing in rural parts of 10 Plains and Western states. The survey released Thursday showed that the overall index for rural parts of the region improved to 55.9 in January from December's 50.2. Any score above 50 suggests a growing economy. Creighton University economist Ernie Goss says hiring remains strong across the region. Bankers from Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wyoming were surveyed.