Are increased profits by suit retailers a sign that hiring is about to pick up?
Sounds like an off-beat analysis, but according to the @Work blog better-than-expected earnings by clothing retailers indicates that jobless workers are updating their wardrobes to prepare for job interviews.
The train wreck that was the Tennessee economy, is showing signs of sustainable recovery.
So says the University of Tennessee Center of Business and Economic Research. The jobless rate is slowly recovering, tax collections are improving and personal income is growing, UT economist Matt Murray wrote in the spring update to the CBER economic report to the governor.
But it’s going to be a long haul. It will be 2013 before the economy shows significant improvement, Murray says.
The report also notes that the state must eventually confront the inevitable — tax increases or deep cuts in spending when federal stimulus funds run out next year.
Read the full report here.
See a video presentation by Murray here.
The status quo passes for good news these days.
Tennessee’s unemployment rate for January was unchanged from December at 10.7 percent, the state Department of Labor and Workforce Development said today.
A year ago, the January jobless rate was 9.1 percent.
Read the full story on Knoxvillebiz.