KNOXVILLE, Tenn. (WATE) — The Boyd Center for Business and Economic Research at the University of Tennessee has released its annual report to the Governor’s Office, which found that economic growth has slowed down in the Volunteer State.
Tennessee added roughly 24,000 jobs this year, but before the pandemic, the state added 60,000 per year. With the national unemployment rate for people 18 to 24 over 10%, University of Tennessee Associate Research Professor Larry Kessler said the American dream is becoming unaffordable.
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“It’s becoming more and more difficult as prices have risen way higher or way faster than kind of expected, really since 2022 or so. But wages have just not kept pace,” said Kessler.
Even Santa Claus has had to tighten his belt buckle…