Source: Kyser Center for Economic Research
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Oct. 13, 2014
While progress in the national and state economies has boosted confidence, optimism on the part of both consumers and businesses has been tempered by caution. Following a 3.0% increase in 2013, nonfarm jobs are expected to increase by 2.2% in both 2014 and in 2015. The unemployment rate will fall from 8.9% in 2013 to 7.5% this year and 7.0% in 2015. With continued improvement in the labor market, both personal income and total taxable sales should increase by four to five percent in each of the next two years.
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