The Greater Phoenix Chamber has released its Arizona Economic Insights Dashboard findings for the most recent time period extending through July 2024. This tool provides access to real-time, interactive data updates on Arizona’s ever-changing economic landscape. Users can delve deeper into unemployment, GDP, job projections, population changes, average income, educational … [More]
How Phoenix’s Creative Community Impacts the Economy
Happening Now: Phoenix Design Week
Imagine walking the aisles of your local grocer and trying to make product purchase decisions based on a sea of blank, white boxes that are all the same shape and size regardless of content. Or interacting with a “smartphone” that was devoid of apps, color or motion. Or living in a place in which every building was exactly the same inside and out, lacking the form and function … [More]
ESOPs Are on the Rise. Are They Right for Your Business?
Benefits accrue to the owner, the company and the local economy
It’s likely that most Phoenix business owners have encountered a company that offers an employee stock ownership program (ESOP) in the past few years. In Phoenix, some of the most successful companies are exploring whether an ESOP is right for their business, and word of mouth is a powerful tool in the business community. When something works, others want to try it. Because of … [More]
2024 Ranking of the Most Neighborly Cities in America Lists Phoenix Second Best Large City
In celebration of National Neighbor Day (September 28), Neighbor.com—the leading peer-to-peer storage and parking marketplace—unveils the results of its fifth annual "Most Neighborly Cities in America" ranking. To establish the grading criteria, Neighbor surveyed 1,000 individuals on how they define neighborliness. The most common factors included charitable contributions, … [More]
Home Ownership Slightly More Affordable across U.S., Still Difficult for Average Workers
ATTOM, a leading curator of land, property data, and real estate analytics, today released its third-quarter 2024 U.S. Home Affordability Report showing that median-priced single-family homes and condos remain less affordable in the third quarter of 2024 compared to historical averages in 99 percent of counties around the nation with sufficient data to analyze. The latest trend … [More]
Here’s How Homeownership in Arizona Has Changed in the Past 10 Years
New research has named the states where the homeownership rates have changed the most in the last decade. The study, conducted by the real estate site New Jersey Real Estate Network, analyzed US Census data from 2014 to 2024 on the percentage of homeowners in each state, to identify where experienced the highest rise and decline in rates. According to the … [More]
Arizona Voters Want Long-Term Planning and Stable Revenue to Support Future Growth
Center for the Future of Arizona announced results from its latest 2024 Arizona Voters' Agenda survey, providing voters' views of taxes, state spending, and long-term planning ahead of the November general election. This survey research is part of CFA's ongoing efforts to center the voices of Arizonans during election season and highlight areas where likely voters agree across … [More]
ASU Details Impact of State Cuts to Higher Ed Funding
$24 million in cuts from state government force tuition surcharge, lost scholarships, reduction in Arizona Teachers Academy, and end of ASU Lake Havasu Center
Arizona State University will add a tuition surcharge for on-campus students in spring 2025 and the Arizona Teachers Academy faces an uncertain future, the result of recent budget cuts passed by the state Legislature and signed by the governor. More than 2,600 Arizona resident students also could be impacted by the expected decrease in ASU’s allocation for the Arizona Promise … [More]
Housing Payments Post Biggest Decline in 4 Years ahead of Fed’s Historic Rate Cut
The median U.S. housing payment was $2,534 during the four weeks ending September 15, down 2.7% from a year earlier–the biggest decline since May 2020, according to a new report from Redfin, the technology-powered real estate brokerage. Monthly payments are falling because mortgage rates dropped to their lowest level in 20 months in the lead-up to the Fed’s first interest-rate … [More]
Report on Building for Reverse Logistics Examines Flow Back from the Consumer to Supplier
The pandemic brought into sharp focus the importance of having a healthy and functioning supply chain, that critical system by which goods are delivered from factories to doorsteps. But how does the process work in reverse, when items are returned and sent back? And what happens to the returned items? The NAIOP Research Foundation released a new report on reverse logistics … [More]
ASU Collaboration Releases 2024 U.S. Latino GDP Report
A collaborative report with the W. P. Carey School of Business highlights latino contributions to U.S., Arizona Economies
For the second time since the announcement of their partnership, the Latino Donor Collaborative (LDC) and the ASU W. P. Carey School of Business released the 2024 LDC U.S. Latino GDP Report™ at the L'ATTITUDE Conference. The report, titled "Youth, Entrepreneurship, and Human Capital," details the immense contributions made by U.S. Latinos, who represent 19.5% of the country's … [More]
73% of Small Businesses Have Grown in Past Year, Phoenix-Based Small Business Owners Are Faring Better Than Most
Almost three quarters (73%) of American small business owners say their business has grown in the last year, with even higher percentages for Black (84%) and Hispanic (80%) owners, according to the U.S. Bank 2024 Small Business Perspective that was released today. The report, which is based on a survey of more than 1,000 small business owners, explores the complex challenges … [More]
Arizona Tech Job Growth Lagging Behind Other Southwest States, Says Report
While tech job demand remains high in Arizona, it lags behind Nevada, Utah and Texas in current and projected rrowth
The Arizona Technology Council released its Q1 2024 Arizona Technology Industry Impact Report. Takeaways from the report focused on job growth throughout the Southwest. Arizona technology job demand remains high but still lags Nevada, Utah and Texas. In Q1 2024, technology job growth sat at 3% in Arizona, tied with California, while other states reported job growth of 4% or … [More]
Small Business Optimism Dips in August, Erasing July Gains
Main Street owners grapple with uncertainty as sales expectations decrease
The NFIB Small Business Optimism Index fell by 2.5 points in August to 91.2, erasing all of July’s gain. This is the 32nd consecutive month below the 50-year average of 98. The Uncertainty Index rose to 92, its highest level since October 2020. Inflation remains the top issue among small business owners, with 24% of owners reporting it as their top small business operating … [More]
Phoenix Housing Market Sees Price Gains, but Sales Lag as Summer Slows
The number of new listings and the median sales prices keep climbing, according to year-to-date data from Phoenix REALTORS. The summer doldrums continue into September, with August’s sales and closings to date running below last year’s numbers. “Federal Reserve watchers predict a possible large interest rate cut after the August jobs report,” said Sheryl Bowden, Phoenix … [More]
Phoenix Sky Harbor Airport among Major Hubs with the Shortest TSA Lines
Phoenix Sky Harbor International Airport in Arizona has the ninth-shortest TSA security line of any large airport hub in America, a new study has revealed. Thursday is the busiest day to go through security at Phoenix, while Tuesday is the quietest. Data collection experts SOAX analyzed data from Qsensor on security wait times at America's 31 largest airport hubs, … [More]
Their Take: Why the Job Market is Cooling Down: Three Big Reasons
The U.S. job market is slowing down, and more people are finding themselves unemployed. This change is happening because of three main reasons: the election year, high interest rates and new technology like Artificial Intelligence (AI). Let’s break down these reasons to understand what’s going on. The Election Year When it’s an election year, like 2024, businesses … [More]
Small Business Optimism Improves in Industry-Specific Report, Says Survey
Survey focuses on the construction, manufacturing, retail, and services industries
The NFIB Research Center released an industry-specific quarterly Small Business Economic Trends survey highlighting the construction, manufacturing, retail, and services industries. “Small business optimism showed signs of improving over the last few months. While conditions remain tough overall, owners report feeling positive about the future of the economy, especially in … [More]
