Recovery could take 5 years
Posted: Tuesday, December 20, 2011 8:14 am
NASHVILLE (AP) — A University of Tennessee analyst says it could take up to five years before the state completely recovers all the jobs lost since the beginning of the recession.
Bill Fox, director of UT’s Center for Business and Economic Research, told the State Funding Board in Nashville last week that the state has gained back about 60,000 jobs, or about a quarter of the 220,000 lost since 2007.
Fox told the panel that the number of jobs created in Tennessee is a better measure of the state’s economic health than the unemployment rate, which he said reflects a larger number of people seeking work amid improving job prospects.