Saturday, January 29, 2011

2011: State Economic Forecast

A quick update on the 2011 economic forecast from the University of Tennessee:
An economic forecast from the University of Tennessee says the state won't recover all of the jobs it lost during the recession for another three years.
The annual report to the governor by the UT Center for Business and Economic Research says job growth is expected to gain vigor in 2011, but non-farm employment won't fully recover until 2014.
The Chattanooga Times Free Press reports the center's prediction is for 36,000 new jobs during this year, for a 1.3 percent gain.
The jobless rate at the end of the year is still expected to remain above 9 percent. That's more than double the rate of a decade ago.