LITTLE ROCK, Ark. (KTHV) -- The latest economic forecast for the state and the nation was given at the UALR Institute for Economic Advancement's Forecast Conference on Tuesday.
The half-day event featured the state economic forecast by UALR's Dr. Michael Pakko.
He assessed Arkansas' prospects for employment growth, among other economic factors.
Dr. Pakko said recent data shows positive progress amidst disturbing signs of weakness.
Overall Pakko's biggest concern right now are home sales and retail sales, along with a recent lag in employment growth over the past four to five months.
But Pakko's forecast does show growth the next few years.
He said the state economy could be back to pre-recession levels by 2014.
After his speech, he spoke with us about how long this road to economic recovery has taken. Pakko mentioned that gasoline prices, and severe storms and droughts
Chris Varvaras, co-founder and president of Macroeconomic Advisors LLC of St. Louis, delivered the national economic forecast.
That forecast was similar to Arkansas. Varvares said he is quote "cautiously optimistic" about U.S. Economy.
As for the upcoming election, Dr. Pakko did not discuss the political landscape.
He did add, however, there should be "less uncertainty" after the election and that alone could trigger growth in the economy.