OMAHA, Nebraska -- A new survey of Midwest business managers show another month of economic growth.
"We're seeing the economy continuing to expand--the negatives are getting less negative. We're still, probably, four to five percent below pre-COVID-19 levels that we saw earlier this year" says Creighton University Economist Ernie Goss.
He says the October Mid-America Business Conditions Index, which ranges between 0 and 100, increased to 70.2 from September’s 65.1--it's highest level in 16 years.
Goss also says the Midwest business leaders taking part in the October survey say they continue to have trouble finding skilled workers.
"More than three-out-of-four of the manufacturers reported shortages of qualified workers--even with the unemployment rate higher" he says.
Goss says it remains very difficult to predict the economy. He says businesses need to stay flexible; manage risks; and respond quickly to changes.
The nine-state Mid-America Business Conditions Index surveys business managers in Iowa, Nebraska, Arkansas, Kansas, Minnesota, Missouri, North Dakota, Oklahoma, and South Dakota.