Omaha’s March Economic Indicators Show COVID-19’s Emerging Impact
The Greater Omaha Chamber’s monthly economic indicators for March showed regional commerical construction rose – with more than twice the construction than last year in the month, despite the outbreak of the coronavirus hitting in the middle of the cycle.
New home construction was also up over 2019, with March 2020 permit values at $43 million, the chamber found. Commerical construction building permits in the metro area were up 102.4% to $143.1 million.
The chamber’s business intelligence team said that regional unemployment rose to 3.6%, under the March unemployment rate of 4.1%, but was starting to show the impact of COVID-19 on the local economy.
Employment growth in the metro area was up 2.1% with an increase of 10,300 employed workers versus 2019. Private hourly wages were up 4.8%. However, passengers at Eppley Airfield were down 16.7%.
– Scott Stewart
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