Tennessee Economic Outlook, Fall 2008
The economic environment for the state and national economies has deteriorated significantly since spring 2008. Job losses continue to mount and the state unemployment rate jumped to 7.2 percent in September. All available evidence points to additional contraction in the quarters ahead. The state is expected to see job losses of 1.3 percent in 2009 and the unemployment rate will rise above 8.0 percent for the year. The economy is expected to bottom out in the middle of next year and then slowly rebound. But it will be 2010 before broad-based and sustained growth is realized. As noted in the Outlook, there is no upside potential for economic growth, only downside risks through 2009.
An Economic Report to the Governor of the State of Tennessee: The State's Economic Outlook for 2008.
Prepared by the Center for Business and Economic Research at the University of Tennessee. This annual report provides a comprehensive look at Tennessee's economy through short term and longer-term forecasts.
Click to read or download the report
