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.
Matt Murray News
Students and members of the community are invited to the Baker Center to watch the upcoming presidential debate and discuss it via videoconference with crowds gathered statewide. DebateWatch begins at 9:00 p.m. on Wednesday, October 3, in the Baker Center’s Toyota Auditorium, with a viewing of the first of the 2012 presidential debates, moderated by Jim Lehrer of “PBS NewsHour.”
Hopes for accelerated growth this year in the state and national economies “have been dashed,” due to the sluggish creation of jobs, according to a report by the Center for Business and Economic Research. But it’s not all bad news. The unemployment rate is steadily decreasing, jobs have been growing, the housing market continues to address its long-standing pressures, and the financial health of states has improved—all key indicators of economic recovery.
A new lecture series will bring government leaders, past and present, to UT Knoxville to discuss policy issues affecting our city, nation, and world. The ambassadorial and local government lecture series is named in honor of Victor H. Ashe, former Knoxville mayor and U.S. ambassador to Poland. It will be held at the Howard H. Baker Jr. Center for Public Policy.
Solar power is a viable energy source for the nation, and its use is rapidly growing in the U.S. as federal incentives—similar to those that helped other energy markets to develop—are put in place. That is the message of “Assessment of Incentives and Employment Impacts of Solar Industry Deployment,” a report commissioned by the Solar Energy Industry Association. The Howard H. Baker Jr. Center for Public Policy administered funding for the research and the report.
How can we make it easier and more affordable to use solar power in our homes? UT Knoxville is part of a national effort to find out. The Howard H. Baker Jr. Center for Public Policy is participating in the US Department of Energy’s Rooftop Solar Challenge, an effort to encourage wider use of solar energy by streamlining the permitting processes, cutting red tape, and lowering the costs for rooftop solar systems.
Slowly and somewhat unsteadily, Tennessee and the U.S. are recovering from the Great Recession. That’s the cautiously optimistic prediction in the 2012 Economic Report to the Governor, released today by the Center for Business and Economic Research at UT Knoxville.
Professor Matt Murray, associate director of the Center for Business and Economic Research at UT Knoxville, has been appointed director of the Howard H. Baker Center Jr. Center for Public Policy. He will begin immediately. Murray, the Ball Corporation Professor of Business, will take the place of Carl Pierce, who has directed the center since June 2009.
Tennesseans are in for the long haul and likely won’t see significant improvements in the state’s economy until 2013. Many aspects of the economy, however, are showing some gains in the short-term, which is good news particularly in the areas of employment, personal income, sales tax, and state tax revenue, according to a UT Knoxville report released today.
The worst is over for the Tennessee economy, but it will be a long road to full recovery as virtually every measure of economic activity — from real estate to job creation to consumer spending — now remains at a very depressed level. This forecast was released today in the spring update to the 2010 Economic Report to the Governor, an annual report prepared by UT Knoxville’s Center for Business and Economic Research.