News Release: Nebraska COVID-19 Losses at $834 Million, So Far
NEWS RELEASE from the Platte Institute
Download the Economic Impact of COVID-19: Second Cut
Contact: Adam Weinberg
(402) 500-0209
Report: $834 Million in Economic Activity Lost to COVID-19 in March, Early April
Economists Ernie Goss & Scott Strain to Review Figures on Webinar
OMAHA, NE — New estimates from economists Ernie Goss and Scott Strain show that the state of Nebraska has so far lost more than $834 million in economic activity as a result of the COVID-19 pandemic.
The figures are based on data through April 4 and the totals are expected to climb as the crisis continues.
The numbers have been published in the new Platte Institute report, "The Economic Impact of COVID-19 on Nebraska's Economy: Second Cut," now available at PlatteInstitute.org/Policy. The report is attached in PDF format.
Updated economic figures for Nebraska will continue to be released as new data becomes available.
The report estimates 96,147 job losses in Nebraska through early April, resulting in a loss of more than a quarter of a billion dollars in wages, salaries, and self-employment income. These figures do not account for federal money that has come into the state through COVID-19 relief programs.
The Platte Institute will host a webinar with Ernie Goss, Ph.D. and Scott Strain, M.S. on the report.
The webinar will be held on Zoom on Thursday, April 23, 2020 at 11 a.m. Central Time. Registration is required at PlatteInstitute.org/Webinar.
The program may be recorded for broadcast, will include Q&A, and will be available for download.
Here are additional highlights of the report:
- Nebraska state and local sales tax receipts are estimated to have declined by $13.6 million through April 4. State personal and corporate income tax receipts are estimated to have declined $11.7 million over the same period.
- Under the current Directed Health Measure, 3.46% of Nebraska workers eligible for unemployment are estimated to receive benefits. The average increase in unemployment among shelter-in-place states is 4.49%, while the average of states that do not have a statewide shelter-in-place order, including Nebraska, is 2.47%.
To schedule an interview on this subject, please contact Adam Weinberg at (402) 500-0209 or aweinberg@platteinstitute.org.
The Platte Institute advances policies that remove barriers to growth and opportunity in Nebraska. More media resources are available at PlatteInstitute.org/Media.