Falling unemployment rates, an increase in vehicle sales, and a long-awaited rebound in the residential housing market are all indications that the national and state economies are making a comeback. Despite sequestration of federal spending and a payroll tax increase that have slowed consumer spending, the economy is poised for strong growth in both 2014 and 2015, according to the spring 2013 Tennessee Business and Economic Outlook released today by UT’s Center for Business and Economic Research.
Center for Business and Economic Research News
The US and Tennessee economies continue to dig their way out from the Great Recession, but they will be digging at a slower pace this year than last. The debate over the nation’s debt ceiling, the looming risk of sequestration of federal spending, and the payroll tax increase contribute to the slowdown in predicted gains, according to the forecast in the 2013 Economic Report to the Governor of the State of Tennessee, released today.
The term “fiscal cliff” is becoming part of our vocabulary. However, whether or not we go over it, East Tennessee could see an impact. Bill Fox, director of the Center for Business and Economic Research, gave five reasons why East Tennesseans should care about whether or not lawmakers cannot agree to help solve a $1.1
Tennessee has seen an 11.5 percent overall growth in population since 2000. The older population in the state also has increased 21.3 percent since then, outpacing the nation. These and other demographic trends can be examined through several free resources being offered to the media and interested residents by the State Data Center, based at UT.
The number of uninsured Tennesseans has dropped to its lowest total since 2008, according to a UT study released today. The rate of uninsured children increased slightly from last year, however, going from 2.4 percent to 2.7 percent, the report states. These findings are included in “The Impact of TennCare: A Survey of Recipients 2012,” prepared by UT’s Center for Business and Economic Research.
Despite having the third-fastest growing Hispanic population in the country, the size of Tennessee’s Latino population is still smaller than the national average. That’s according to a study recently released by UT’s Center for Business and Economic Research. The report examines the impact of Hispanic population growth on the state’s economy, labor force, education system, and social services sector.
Bruce Behn, a renowned UT accounting professor, has received the 2012 Beta Alpha Psi Business Information Professional of the Year award. He was one of three recipients to be honored this year with the national accolade.
CNN highlighted a recent UT study that shows students who plan on obtaining a four-year degree in college shouldn’t take five or six years to get it. The study, from the Center for Business and Economic Research, found that people who earned bachelor’s degrees within four years received, on average, higher wages than those who earned similar degrees within six years. Read the CNN story here.
The Wall Street Journal featured UT economics professor Bill Fox in this story about state and local fiscal burdens and their strain on economic recovery. Fox noted a political pitfall: Taxpayers may say they want fiscal prudence but it still is hard for some to accept that their tax money is being redirected to a bank
U.S. News and World Report has highlighted a recent study from UT’s Center for Business and Economic Research that confirms that persistence pays when it comes to higher education. The study shows that students who complete their bachelor’s degree in four years earned $10,000 more than non-completers seven years after entering college. Read the full story at U.S. News and World Report.