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Labor markets in the Plains region are still tight, with higher than average job opening rates and labor force participation rates with low unemployment rates. Healthcare is showing a very strong uptrend in all states in the region. Some agricultural prices have been returning to pre-pandemic levels, such as corn, wheat and pork, creating difficulty for farmers whose costs have risen. But soybean prices remain elevated, and beef and chicken prices are still near record highs. Overall 2024 farm income should decline from a drop in crop insurance indemnities. Insurance payments will normalize in 2024 after peaking in 2022 and 2023.
