U.S. News & World Report, the global authority in rankings and consumer advice, today announced the 2022 Best Jobs. The rankings offer a look at the best jobs across 17 categories – from sectors such as business and technology – to help job seekers at every level achieve their career goals. They take into account the most important aspects of a job, including growth … [More]
You are here: Home / Archives for Economy & Trends
Home Sales Posted Largest Monthly Decline since Pandemic Onset, Says Report
Redfin
Fewer homes than ever were for sale in December, driving seasonally-adjusted home sales down 3.6%, according to a new report from Redfin, the technology-powered real estate brokerage. This marks the largest month-over-month sales decline since May 2020. Home prices surged 15% from a year earlier, the 17th consecutive month of double-digit increases. “Home sales are … [More]
U.S. Jobless Claims Rose to Highest Level since Mid-November of Last Year
U.S. Department of Labor
In the week ending January 8, the advance figure for seasonally adjusted initial claims was 230,000, an increase of 23,000 from the previous week's unrevised level of 207,000. The 4-week moving average was 210,750, an increase of 6,250 from the previous week's unrevised average of 204,500. The advance seasonally adjusted insured unemployment rate was 1.1 percent for the week … [More]
Experts Split on whether Affordability Woes or Inventory Gains Will Define 2022 Housing Market
Zillow
An outside panel of economists and housing experts is evenly split on whether sales will rise or fall in 2022 as concerns over worsening affordability collide with expectations for rising inventory. When asked whether sales will rise or fall in 2022 compared to 2021, 41% of participants in the latest Zillow® Home Price Expectations Survey1 (ZHPES) said sales will … [More]
$2M Grant Program for Hispanic-Owned Restaurants Launches
inbusinessPHX.com
The United States Hispanic Chamber of Commerce Education Fund, a 501(c)(3) non-profit organization affiliated with the United States Hispanic Chamber of Commerce (USHCC), and Grubhub, a leading U.S. food-ordering and delivery marketplace, have opened applications for the USHCC & Grubhub Restaurant Small Business Grant Program. The program is supported by proceeds from … [More]
EN NEGOCIOS: El estado económico de los latinos en Estados Unidos: El sueño americano revisado
por Edgar R. Olivo
El estado actual de la economía está constantemente revelando desigualdades entre los diversos grupos demográficos de nuestro país. Las disparidades salariales y de ingresos en los Estados Unidos son barreras que impiden que los latinos participen plenamente en la economía, lo que podría tener un impacto multimillonario, desatar aún más su espíritu emprendedor, crear millones … [More]
The Economic State of Latinos in America: The American Dream Revisited
by Edgar R. Olivo
The current state of the economy is constantly revealing inequalities between the diverse demographic groups within our country. Wage and income disparities across the United States are barriers preventing Latinos from full economic participation that could have a multitrillion-dollar impact, further unleashing their entrepreneurial spirit, creating millions of jobs, driving … [More]
Consumer Prices Rose 7% in the Year through December, Fastest Rate since 1982
U.S. Bureau of Labor Statistics
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.5 percent in December on a seasonally adjusted basis after rising 0.8 percent in November, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 7.0 percent before seasonal adjustment. Increases in the indexes for shelter and for used cars and … [More]
Small Business Owners Reporting Inflation as Biggest Problem, Highest Since 1981
NFIB
The NFIB Small Business Optimism Index increased slightly in December to 98.9, up 0.5 points from November. Twenty-two percent of small business owners reported that inflation was their single most important problem encountered in operating their business. Price raising activities have reached levels not seen since the early 1980s when prices were rising at double-digit … [More]
Payroll Employment Rises by 199,000 in December, Unemployment Rate Declines to 3.9%
U.S. Bureau of Labor Statistics
Total nonfarm payroll employment rose by 199,000 in December, and the unemployment rate declined to 3.9 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in leisure and hospitality, in professional and business services, in manufacturing, in construction, and in transportation and warehousing. This news release presents … [More]
Small Businesses Struggle to Increase Workforce, Says Report
NFIB
Small business owners continue to struggle to increase their workforce, with 25% of owners saying labor quality was their top business problem in December, according to NFIB’s monthly jobs report. Thirteen percent of owners cited labor costs as their top business problem, up three points from November and a 48-year record high. “The labor shortage is holding back … [More]
Businesses Set Their Sights on Growth in 2022 Despite Supply Chain and Cost-Related Challenges
JPMorgan Chase & Co.
Small and midsize U.S. business leaders remain confident in their companies and resourceful in their approaches to confronting macroeconomic challenges that have created growing pains over the last year, finds JPMorgan Chase’s 2022 Business Leaders Outlook Survey released today. As a new year begins, the majority of business leaders are feeling upbeat: 83% of midsize and 71% … [More]
Home Ownership More Affordable Than Renting in Majority of U.S. Housing Markets
inbusinessPHX.com
ATTOM, curator of the nation's premier property database, today released its 2022 Rental Affordability Report, which shows that owning a median-priced home is more affordable than the average rent on a three-bedroom property in 666, or 58 percent, of the 1,154 U.S. counties analyzed for the report. That means major home ownership expenses consume a smaller portion of average … [More]
2021 Homebuying Frenzy Concludes with Double-Digit Price Growth, Says Report
inbusinessPHX.com
December listing prices accelerated 10.0% year-over-year nationally and at an even faster pace in more than one-quarter of large metros, led by Las Vegas (+32.4%) and Austin (+28.8%) Colder weather may be settling in, but new housing data suggests the winter market is heating up, as looming mortgage rate hikes motivate more buyers to search for a home despite limited … [More]
Car Insurance Rates Increase in 2022 as Americans Resume Their Pre-Pandemic Lives, Arizona Tops List
ValuePenguin
As Americans resume normal economic activities, Auto insurance rates will rise by 0.6% in 2022 after falling in 2021 according to ValuePenguin's State of Auto Insurance in 2022 report published today. The average cost of auto insurance is expected to reach $1,935 annually, with 22 states seeing car insurance premiums increase in 2022. Here are the key … [More]
Luxury Real Estate in Phoenix 2022 Outlook – and Economic Impact
by Greg Remmers
The luxury real estate buying boom that began in 2020 escalated in 2021 and will continue in the new year. Insatiable demand depleted inventory across the U.S. and put upward pressure on prices. Driving the real estate surge was a combination of factors that include shifting consumer values caused by the pandemic and historic wealth growth due to cryptocurrency gains and … [More]
Surprise Is No. 18 U.S. Growth City of 2021, Says U-Haul Data
U-Haul
Surprise, Ariz., is the No. 18 growth city in America based on U-Haul truck moves throughout 2021, according to transactional data compiled for the annual U-Haul Growth Index. People coming to Surprise in one-way U-Haul trucks rose nearly 10% year-over-year, while departures rose about 13% from 2020. Despite the larger percentage in departures, arriving customers still … [More]
Hourly Earnings Growth Ends the Year at a New High, Job Growth Also Continues at U.S. Small Businesses
Paychex
Workers saw record hourly earnings growth and employment levels continued to rise as 2021 drew to a close. This is according to the aggregated payroll data of approximately 350,000 Paychex clients with fewer than 50 employees, released monthly in the Paychex | IHS Markit Small Business Employment Watch. The December data shows hourly earnings growth improved to 4.27 percent, … [More]
Tampa Named Number One Hottest Housing Market for 2022, Phoenix Is Eighth
Zillow
The hottest housing market of 2022 will be Tampa, according to a new Zillow® analysis. Rounding out the top five are Jacksonville, Raleigh, San Antonio and Charlotte in what is anticipated to be another hot year for housing across the Sun Belt. Zillow economists expect the housing market to back off just a bit from a record-breaking pace in 2021, but home shoppers … [More]
Annual Home Price Appreciation Continues to Accelerate, Up 18.1% in November
CoreLogic
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for November 2021. While 2021 was a record-breaking year for U.S. home price growth, for many prospective buyers the hot housing market will continue to exacerbate ongoing affordability challenges into the new … [More]
