UALR Economist Dr. Michael Pakko predicts that Arkansas could lead the country in a rebound from last year’s recession. Noting an unemployment and foreclosure rate lower than the national averages, Pakko said Arkansas’ economic recovery could come faster than other states.
Pakko also suggested that jobs were crucial to improving economic conditions. Currently, Arkansas unemployment rate is hovering around 7.5-7.7 percent.
"One thing to consider is that the vast majority of jobs that are created in our economy are created by small businesses. They’re not necessarily going to be the big corporations that are moving into the state adding hundreds of jobs, but its going to be the one or two jobs on the local level. So anything we can do to improve the general business climate, particularly for entrepreneurs, is going to be beneficial for the economy’s growth potential," he said.
Watch more of Pakko’s comments from this week’s edition of Talk Business in the following video.