Nebraska’s unemployment rate drops below 2% | Local business news

With the The COVID-19 pandemic continues to impact the global economy, the current job market is a hot topic in the news cycle. But while the pandemic itself is, historically, something of an economic aberration, the American economy as we know it today has a long and storied history of booms, busts, and evolution.

During the time of the American Revolution, most of the labor market in the United States revolved in one way or another around farming or acquiring food. Many individuals and communities farmed for subsistence, not even farming enough to have a surplus to sell for profit. As the fledgling country grew, so did its economy, springing up during the Industrial Revolution of the late 1700s and early 1800s, and inexorably shifting the nation’s economic focus from agrarian endeavors to those manufacturing, trading and other forms of business. Inventions like the steam engine and the cotton gin sped up production, fueling a booming labor market that encountered immigrants eager to find work.

During the mid to late 1800s, the American economy and labor market were characterized by successive periods of rapid growth followed by panics or depressions. This economic concern has been caused by stock market speculation and fluctuating levels of confidence in the federal government’s ability to regulate cash flow and support banks. In turn, the uncertain economy has produced a volatile labor market.

In an effort to capture a snapshot of the history of the U.S. labor market, Stacker compiled a list of the most common jobs in Nebraska 150 years ago using data from the United States Census Bureau. By transcribing what had not been transcribed before Table XXVII from the 1870 decennial census, a state-level overview of the historical labor market can be seen. Nationally, farmers and planters were the most common occupation 150 years ago, one of many agricultural jobs that accounted for more than 47% of all employed people over the age of ten.

Keep reading to learn more about the historical labor market in your home country or explore the data for yourself at our website, GitHubor