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UT Study reveals state and national economies bouncing back

12:47 PM, Jun 5, 2013   |    comments
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(WBIR-Knoxville) People are finding jobs and buying cars and houses- all good signs for a national and state economic comeback says a University of Tennessee study.

The Center for Business and Economic Research (CBER) published the study Wednesday according to a university press release.

In it, analysts say we will see strong economic growth in 2014 and 2015.

In addition to anticipated falling unemployment rates, salaries are expected to increase in the next two years.

By 2016, vehicle sales are expected to be back to 2006 pre-recession levels.

"The economy has finally found a firm footing," said Matt Murray, CBER associate director and the report's author. "This will be the third year of payroll employment growth and a falling unemployment rate following the Great Recession."

On a state level, Tennessee outperformed most others according to the press release from the university.

The release states the state saw stronger growth in personal income, nonfarm employment and manufacturing employment than the nation.

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