This report is courtesy of Glenn Luedke, NAICC Legislative Assistant.
Net farm income (cash) for 2016 is forecast at $90.1 billion and net farm income is estimated to be $66.9 billion, according to USDA. Both income figures are a decline for the high set in 2013. The decline for 2016 is 16.4%. Rural counties were losing approximately 200,000 jobs per year and rural unemployment was near 10%. Rural counties added over 250,000 jobs in 2014/2015 and rural unemployment has dropped below 6% for the first time since 2007.