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Opinion: Give credit where it’s due for our comeback economy, soon-to-improve infrastructure

Staff file photo by Robin Rudd / Traffic moves through the junction of Interstate-24 West, at left, and Interstate-75 North, on an August morning. Until phase 2 of the Split project is begun and finished, the backup on I-75's ramp to I-24 will linger at the two-into-one lane merger.
Staff file photo by Robin Rudd / Traffic moves through the junction of Interstate-24 West, at left, and Interstate-75 North, on an August morning. Until phase 2 of the Split project is begun and finished, the backup on I-75's ramp to I-24 will linger at the two-into-one lane merger. Staff file photo by Robin Rudd / Traffic moves through the junction of Interstate-24 West, at left, and Interstate-75 North, on an August morning. Until phase 2 of the Split project is begun and finished, the backup on I-75's ramp to I-24 will linger at the two-into-one lane merger.

By Pam Sohn 5 min read

More jobs, more spending, more booming

After unemployment in Tennessee jumped to a record high 15.8% in April 2020, the jobless rate in Tennessee fell last month to 4% – the lowest since March 2020 before the COVID-19 pandemic slowed the economy.

Tennessee also had a record amount of new business investment (meaning new jobs) in 2021 – despite COVID-19 disruptions. In fact, Tennessee career centers are advertising 410,000 open jobs – or more than four jobs for every one of the 102,687 people who were unemployed here last month.

But that’s not all. Consumer spending on whole has roared above pre-pandemic levels thanks to a relatively rapid economic recovery.

“Real GDP has already recovered to pre-pandemic levels due to a strong surge in consumer spending,” said Larry Kessler, research associate professor in the Boyd Center for Business and Economic Research at the University of Tennessee.