Economic projections for 2014 in Tennessee:
• Unemployment rate: 7.5 percent, down from 8.2 percent in 2013
• Average annual pay: $46,313, up 2.5 percent from 2013
• Taxable sales growth: 3.4 percent, up from 2.75 percent in 2013
• Mortgage rate: 4.6 percent for 30-year loan, up from 4 percent in 2013
• Bank prime rate: 3.3 percent, unchanged from 2013
Source: Short-term outlook projections for Tennessee by the Center for Business and Economic Research at the University of Tennessee, included in the 2014 Economic Report to the Governor.
Dave Flessner is the business editor for the Times Free Press. A journalist for 35 years, Dave has been business editor and projects editor for the Chattanooga Times Free Press, city editor for The Chattanooga Times, business and county reporter for the Chattanooga Times, correspondent for the Lansing State Journal and Ingham County News in Michigan, staff writer for the Hastings Daily Tribune in Nebraska, and news director for WCBN-FM in Michigan. Dave, a native ...