NASHVILLE, Tenn. (WKRN) — The latest nationwide jobs report shows a strong economy. The University of Tennessee’s Boyd Center surveyed business leaders, who are optimistic about the state’s economy, but they also acknowledged key issues that need to be fixed.
“What we’re able to do with the survey is get a little bit more under the hood,” said Dr. Don Bruce, director of the Boyd Center for Business and Economic Research.
Inflation has been one of the biggest problems tripping up the country’s economic engine the past few years. However, based on this new survey , Bruce said Tennessee business leaders are feeling upbeat.
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“The pressures of inflation are still very much with us. Prices are higher than they were and not really projected to come back down, but the day-to-day pressures in terms of how businesses respond to that, they’re easing quite a bit,” Bruce said.
From Memphis to Johnson City, the number one concern the business community faces is being short 100,000 workers. Even if Tennessee keeps attracting out-of-state workers and schools pump out a skilled workforce, researchers said embracing new technology like artificial intelligence (AI) will also be a must for businesses.