Strong Home Prices Expected to Continue through at Least 2021, But Economic Uncertainty is Clouding Long-Term Outlook

Rick McCartney

After watching the for-sale housing market largely shrug off the potential impacts of the coronavirus pandemic this summer, a panel of experts is singing a much more bullish tune about short-term home price performance than in the spring. But a few clouds appear when looking further out. Skepticism remains in the long term with elevated unemployment expected to persist into the … [More]

Weekly Jobless Claims Up as Pandemic Furthers Economic Downturn

U.S. Department of Labor

In the week ending September 19, the advance figure for seasonally adjusted initial claims was 870,000, an increase of 4,000 from the previous week's revised level. The previous week's level was revised up by 6,000 from 860,000 to 866,000. The 4-week moving average was 878,250, a decrease of 35,250 from the previous week's revised average. The previous week's average was … [More]

Arizona Celebrates Small Business Week, Honors Small Business Owners and Their Employees

State of Arizona Office of the Governor

This week, Arizona joins the nation in celebrating Small Business Week and is recognizing the more than 592,000 small businesses throughout the state. Small Business Week honors the entrepreneurs, small business owners and employees who help power the economy and support their communities. Small businesses are the backbone of Arizona’s economy, making up more than 99% of … [More]

Phoenix Unemployment Rate Drops to 5.9%; 51,300 Return to Work in August

inbusinessPHX.com

The greater Phoenix unemployment rate plummeted to 5.9 percent, with 51,300 jobs added during August, according to the Arizona Office of Economic Opportunity. Arizona’s seasonally adjusted unemployment rate also hit 5.9 percent for the month, well below the U.S. rate of 8.3 percent. The metro area now has 2.1 million in the workforce, up from 2.0 million in April, but less … [More]

Study: 63% of Arizonans Believe that Returning to the Workplace Should Be Optional

inbusinessPHX.com

Since the start of the pandemic, millions of Americans have been working from home instead of going into their usual place of work. As the economy slowly re-opens, many workers in public-facing jobs, like shops, bars and restaurants, have already gone back to their workplace. Office workers are among those who could soon be asked to do the same, and the question on many … [More]

Survey: 74% of Hotels Will Lay Off More Employees without Further Aid

American Hotel & Lodging Association

As devastated industries wait for Congress to pass another round of COVID-19 recovery legislation, a new surveyof American Hotel & Lodging Association (AHLA) members shows that the hotel industry remains on the brink of collapse because of the pandemic. Results show 68 percent of hotels have less than half of their typical, pre-crisis staff working full time, and without … [More]

Healthcare Startups Raised $111.4B in Total Funding, a 34% Jump Year-Over-Year

BuyShares

The coronavirus pandemic put enormous pressure on the healthcare industry, forcing pharmaceutical giants and institutions to roll out clinical trials for a COVID-19 vaccine at breakneck speed. But behind the COVID-19 outbreak as the main healthcare issue in 2020, large health systems and venture capital firms continued investing millions in startups whose products could bring … [More]

Home Equity Rises Despite the Pandemic: Homeowners Gained Over $620 Billion in Equity in Q2 2020

CoreLogic

CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released the Home Equity Report for the second quarter of 2020. The report shows U.S. homeowners with mortgages (which account for roughly 63% of all properties) have seen their equity increase by 6.6% year over year. This represents a collective equity gain of $620 billion, … [More]

The Struggles of Small Business Don’t Bode Well for the Overall Economy

inbusinessPHX.com

The year 2020 can’t end quickly enough for most small business owners. Across the country, the pandemic forced many of them to close their operations temporarily – or permanently – and the continued economic uncertainty threatens to kill the ambitions of entrepreneurs who planned to launch businesses but now must put their dreams on hold. None of that bodes well for the … [More]

Valley Bank Publishes First-Ever Community Impact Report

Enterprise Bank & Trust

Enterprise Bank & Trust, the banking subsidiary of Enterprise Financial Services Corp (NASDAQ: EFSC),  published its first-ever Community Impact Report. The report details Enterprise’s various programs, activities and contributions to the communities it serves - St. Louis, Kansas City, Phoenix, and the New Mexico communities of Santa Fe, Los Alamos, and Albuquerque. The … [More]