Is The American Ag Economy In A Recession?

Is U.S. agriculture in a recession?  At least one economist thinks so.

Dr. Ernie Goss, a Creighton University professor, said your perspective depends on what sector of agriculture and the overall economy you’re discussing.

“We are in terms of agriculture, on the grain side, certainly, and manufacturing, one could argue there as well that it's moving sideways," Goss noted.  "The manufacturing sector in the U.S. has lost about 45,000 jobs this year alone, and you're looking at agriculture also right there with manufacturing, but manufacturing is not down as much as agriculture.”

What kind of impact are the economic challenges having on jobs both in and out of agriculture?

“On the hiring side on rural Main Street, it’s not as tough as you might think out there, and that's outside of agriculture," he added.  "That would be the businesses on Main Street, whether we're talking about leisure and hospitality, dry cleaners, and other businesses out there. Optimism is not there right now. It's still very weak. Again, these indices range between zero and 100, and the October Confidence Index was at almost 30, 29.6, actually.”

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