OMAHA, NEBRASKA - Preliminary data shows that AIM’s WorkForce Index (WFI) for February of 2013 rose from 51.6 in January to 53.5 continuing its choppy movement around the neutral growth rate of 50.0. The February index value may be revised after Nebraska Department of Labor estimates for January unemployment becomes available.
A major driver in the increase in the Index was the highest number of employers posting job openings in nearly a year. Thirteen of the sixteen industry groupings tracked by AIM’s Careerlink showed an increase in job postings as compared to January. Only Business and Administration, Finance and Insurance and Health Sciences showed a modest month-to-month decline in job postings of 3%, 7% and 2%, respectively. Architecture and Construction employers had both the largest month to month numerical and percentage increase (25.9%) in job postings over January.
Creighton University’s Nebraska Business Expectation Index declined to 48.7 and their Mid America Business Expectations Index slipped from 53.2 to 53.1. As indicated before, the AIM and Creighton indices continue a choppy pattern around the growth neutral mark of 50.0 with no discernible break-out in either direction for the regional economy.
There was much political and economic uncertainty during the last half of 2012 and that uncertainty appears to be reflected in these business indices. With some of the “Fiscal Cliff” issues resolved and the sequester debate and resolution still uncertain, it appears employers, both regionally and nationally, are looking to 2013 with the expectation of some growth opportunities.
The WFI is a statistically based measurement tool produced by the AIM Institute, a nonprofit organization in Omaha, Nebraska. The Index is a ratio of unique jobs posted on AIM’s Careerlink and the Nebraska seasonally adjusted unemployment.
About the AIM Institute WorkForce Index
The AIM Institute and Creighton University College of Business produce the AIM Institute WorkForce Index each month to track the relationship between the WFI and Creighton’s Mid-America Business Expectation Index and the changes in the U.S. Gross Domestic Product. This comparative analysis not only measures the relative strength of the Greater Omaha labor market, but shows how it compares to regional business expectations and actual national economic performance. This type of information is of value to both the employer and the job applicant as they develop plans and strategies for participation in the local and regional labor market. For more information on the WFI, please visit www.aiminstitute.org/wfi.html, http://business.creighton.edu/economicoutlook, or dol.nebraska.gov.
