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.