{"id":1294244,"date":"2022-02-13T09:37:35","date_gmt":"2022-02-13T14:37:35","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1294244"},"modified":"2022-02-13T09:54:33","modified_gmt":"2022-02-13T14:54:33","slug":"exclusive-how-nebraska-has-the-lowest-unemployment-rate-in-the-nation-gov-pete-ricketts","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/exclusive-how-nebraska-has-the-lowest-unemployment-rate-in-the-nation-gov-pete-ricketts\/","title":{"rendered":"EXCLUSIVE: How Nebraska Has the Lowest Unemployment Rate in the Nation: Gov. Pete Ricketts"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fexclusive-how-nebraska-has-the-lowest-unemployment-rate-in-the-nation-gov-pete-ricketts%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1294244&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Last month, <a href=\"https:\/\/www.theepochtimes.com\/t-nebraska\">Nebraska<\/a> <a href=\"https:\/\/www.dol.nebraska.gov\/PressRelease\/Details\/264\/Monthly-State-Unemployment-Rate\">reported<\/a> a new record-low <a href=\"https:\/\/www.theepochtimes.com\/t-unemployment\">unemployment<\/a> rate in December, 1.7 percent, the lowest in the nation since data collection began in 1976. In an exclusive interview with NTD, Governor <a href=\"https:\/\/www.theepochtimes.com\/t-pete-ricketts\">Pete Ricketts<\/a> explained how Nebraska made it possible.<\/p>\n<p>\u201cIt\u2019s because we have a pro-business state here,\u201d Ricketts told \u201cNTD Business\u201d in an <a href=\"https:\/\/www.ntd.com\/nebraska-unemployment-rate-lowest-in-the-us_739237.html\">interview<\/a> broadcast on Feb. 11. \u201cWe understand that we have to create the rules and regulations that allow businesses to succeed, so they create opportunities for Nebraska families.<\/p>\n<p>\u201cI know that when I ran a business, when we were looking to expand outside of Nebraska, we specifically look at states: if you are not a right-to-work state, we did not consider your state for an expansion,\u201d Ricketts said.<\/p>\n<p>Under right-to-work laws, workers cannot be compelled to become members of a labor union as a requirement of their job. Employers or employees can terminate employment at any time for any reason, as long as no other law is violated.<\/p>\n<p>The Republican governor is also a businessman. With other family members, he\u2019s a part-owner of Major League Baseball\u2019s Chicago Cubs. His father Joe Ricketts was the founder of TD Ameritrade.<\/p>\n<p>\u201cI know from first-hand real-world experiences, businesses look at that, it matters to them. So that\u2019s one of the ways that we attract people here,\u201d Ricketts said.<\/p>\n<p>Another reason is that Nebraska has a workforce with great work ethics, said Ricketts.<\/p>\n<p>\u201cNot only do we have the lowest unemployment rate in the country, but we\u2019ve got the highest workforce participation rate in the country, the highest employment per capita ratio in the country. So Nebraskans want to work,\u201d Ricketts said.<\/p>\n<p>\u201cWe\u2019ve got a state where you\u2019ve got that agricultural background, so that strong work ethic has always been a part of our state\u2019s history.\u201d<\/p>\n<p><a href=\"https:\/\/www.wsj.com\/articles\/at-1-9-nebraska-now-has-the-lowest-unemployment-rate-of-any-state-ever-11637421536\">Some economists<\/a> also concluded fewer government-imposed restrictions during the pandemic contributed to the low unemployment rate.<\/p>\n<p>Nebraska is one of the <a href=\"https:\/\/ballotpedia.org\/States_that_did_not_issue_stay-at-home_orders_in_response_to_the_coronavirus_(COVID-19)_pandemic,_2020\">seven states<\/a> that didn\u2019t order lockdowns during the pandemic.<\/p>\n<p>\u201cWithout lockdowns or mandates, businesses were able to stay open,\u201d The two-term governor said last month when he delivered his <a href=\"https:\/\/governor.nebraska.gov\/press\/gov-ricketts-state-state-address-2\">State of the State Address<\/a>.<\/p>\n<p>In a recent <a href=\"https:\/\/www.politico.com\/interactives\/2021\/covid-by-the-numbers-how-each-state-fared-on-our-pandemic-scorecard\/\">Politico analysis<\/a> of all 50 states, Nebraska came first in economy of how states fared the pandemic. Nebraska also ranked number one overall in consideration of all four analyzed categories: health, social well-being, economy, and education.<\/p>\n<p>\u201cNebraska has weathered the pandemic very, very well,\u201d Ricketts said, \u201cIn fact, right now, we have more people employed in manufacturing than we did pre-pandemic. And that\u2019s important for us because that\u2019s our second biggest industry after agriculture.\u201d<\/p>\n<p>Ricketts also pointed out that the state revenues are \u201cstronger than ever.\u201d<\/p>\n<p>\u201cIn fact, of the fiscal year that ended June 30 of last year, our revenues came in nearly 20 percent above forecasts, and our forecasting board continues to up our forecasts, which is going to allow us to do things like create more tax relief, invest in infrastructure, and so forth. So here in Nebraska, we have been doing very, very well.\u201d<\/p>\n<p>In his State of the State Address, Ricketts estimated that the state would have $1.5 billion in its Cash Reserve Fund by the end of the fiscal year 2023.<\/p>\n<p>The two-term governor also expressed concern with the current record-high <a href=\"https:\/\/www.theepochtimes.com\/t-inflation\">inflation<\/a>.<\/p>\n<p>Based on <a href=\"https:\/\/www.theepochtimes.com\/inflation-speeds-up-again-in-january-vaulting-to-fresh-40-year-high_4269220.html\">statistics<\/a> released on Feb. 10 by the Bureau of Labor Statistics. The consumer price index (CPI) increased by 7.5 percent in January in annual terms. The last time annual inflation was above 7.5 percent was in 1982.<\/p>\n<p>\u201cWhen you print as much money as the Biden administration has printed, that\u2019s gonna drive inflation. When you have a Fed that has been as easy with money as they have been, you\u2019re going to drive inflation. And both of these groups are responsible for what we\u2019re seeing right now,\u201d Ricketts said.<\/p>\n<figure id=\"attachment_4023657\" class=\"wp-caption alignnone\"><figcaption class=\"wp-caption-text\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-4023657\" src=\"https:\/\/img.theepochtimes.com\/assets\/uploads\/2021\/09\/29\/100-Dollar-Bills-600x433.jpg\" alt=\"The one hundred dollar bills\" width=\"600\" height=\"433\" \/><\/noscript><\/figcaption>&nbsp;<\/p>\n<p>$100 notes are printed at the Bureau of Engraving and Printing in Washington on May 20, 2013. (Mark Wilson\/Getty Images)<\/figure>\n<p>From a long-term perspective, the Fed has been too slow to act with regard to inflation, said Ricketts.<\/p>\n<p>\u201cThis is one of the top things the Fed\u2019s supposed to be working on, they haven\u2019t done it,\u201d Ricketts said. \u201cIf they continue to not act, at some point down the road, they will be forced to act and that\u2019s when you get into the situation where you may have those super-high interest rates.\u201d<\/p>\n<p>According to <a href=\"https:\/\/myhome.freddiemac.com\/buying\/mortgage-rates\">Freddie Mac<\/a>, the 30-year fixed mortgage rate hit 18.63 percent in October 1981, the highest in modern history.<\/p>\n<p>Ricketts, 57, said he was a young person at that time, and the inflation was \u201cjust terrible for families.\u201d<\/p>\n<p>\u201cIf they act now they can avoid it. But by delaying, you\u2019re only gonna make it worse down the road,\u201d Ricketts said.<\/p>\n<p>After the latest CPI was released, President Joe Biden <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2022\/02\/10\/statement-by-president-biden-on-january-consumer-price-index-report\/\">responded<\/a> that his administration \u201cwill continue to be all hands on deck\u201d to deal with this issue, adding forecasters \u201ccontinue to project inflation easing substantially by the end of 2022.\u201d<\/p>\n<p>The Fed hasn\u2019t responded to a request for comment. It\u2019s <a href=\"https:\/\/www.theepochtimes.com\/all-eyes-turn-to-federal-reserve-after-inflation-hits-40-year-high_4272797.html\">expected<\/a> to start raising interest rates at its next meeting in March.<\/p>\n<div class=\"author_wrapper\">\n<div class=\"one_author_block round\">\n<div class=\"top_row\">\n<p>Follow<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"author_wrapper\">\n<div class=\"one_author_block round\">\n<div class=\"top_row\">\n<p>Follow<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Last month, Nebraska reported a new record-low unemployment rate in December, 1.7 percent, the lowest in the nation since data collection began in 1976. In an exclusive interview with NTD, &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1294244","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1294244","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1294244"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1294244\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1294244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1294244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1294244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}