Automation versus Human Innovation: How to Engineer an Equitable Economy 

inbusinessPHX.com

Are some companies moving closer to having more robots than employees? Recent studies indicate a trend in that direction. Research from Google Cloud shows two-thirds of manufacturers who use artificial intelligence in their day-to-day operations say that their reliance on AI is increasing. And a report from PwC predicts that by the mid-2030s, up to 30% of jobs could be … [More]

Mortgage Delinquency Continues to Sink as Pandemic Recedes, Says Report

CoreLogic

CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report for August 2021. For the month of August, 4% of all mortgages in the U.S. were in some stage of delinquency (30 days or more past due, including those in foreclosure), representing a 2.6-percentage point decrease … [More]

CPI for All Items Rises 0.9% in October, Consumer Prices Rose 6.2%

U.S. Bureau of Labor Statistics

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.9 percent in October on a seasonally adjusted basis after rising 0.4 percent in September, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 6.2 percent before seasonal adjustment. The monthly all items seasonally adjusted increase was broad-based, … [More]

Small Business Optimism Decreases, Owners Uncertain about Future Business Conditions

NFIB

The NFIB Small Business Optimism Index decreased slightly in October by 0.9 points to 98.2. One of the 10 Index components improved, seven declined, and two were unchanged. “Small business owners are attempting to take advantage of current economic growth but remain pessimistic about business conditions in the near future,” said NFIB Chief Economist Bill … [More]

Nearly 60% of Americans Unlikely to Travel for Thanksgiving or Christmas, Says Survey

American Hotel & Lodging Association

While rising vaccination rates against COVID-19 have increased travelers’ comfort levels, most Americans are still opting to stay home this holiday season, according to a new national survey commissioned by the American Hotel & Lodging Association (AHLA) conducted by Morning Consult. The survey found that 29% of Americans are likely to travel for Thanksgiving and 33% are … [More]

Payroll Employment Rises by 531,000 in October; Unemployment Rate Edges Down to 4.6%

U.S. Bureau of Labor Statistics

Total nonfarm payroll employment rose by 531,000 in October, and the unemployment rate edged down by 0.2 percentage point to 4.6 percent, the U.S. Bureau of Labor Statistics reported today. Job growth was widespread, with notable job gains in leisure and hospitality, in professional and business services, in manufacturing, and in transportation and warehousing. … [More]

Unfilled Job Openings Remain at Unprecedented Levels, Says Report

NFIB

Small business owners continued to struggle to find workers to fill open positions in October with 49% (seasonally adjusted) of all owners reporting job openings they could not fill in the current period, according to NFIB’s monthly jobs report. A net 44% (seasonally adjusted) of owners reported raising compensation, up two points from September and a 48-year record high … [More]

U.S. Weekly Jobless Claims Fall to Pandemic Low, Showing Signs of Lasting Recovery

U.S. Department of Labor

In the week ending October 30, the advance figure for seasonally adjusted initial claims was 269,000, a decrease of 14,000 from the previous week's revised level. This is the lowest level for initial claims since March 14, 2020 when it was 256,000. The previous week's level was revised up by 2,000 from 281,000 to 283,000. The 4-week moving average was 284,750, a decrease of … [More]

Survey Shows Supply Chain Issues and Staffing Shortage Will Raise Prices, Costs

NFIB

The NFIB Research Center released its latest COVID-19 survey assessing how the COVID-19 pandemic has affected small businesses. This is the 20th survey in the series and includes updates on supply chain disruptions, the staffing shortage, and anticipations about the upcoming holiday season. The survey was conducted from October 25-27 with 613 responses … [More]

US Annual Home Price Growth Hits 18% in September as Supply and Demand Imbalances Intensify

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 September 2021. Demand for homebuying remained strong through the end of the summer. However, the ongoing housing supply shortage has continued to drive up prices, which increased 18% year over year … [More]

7 Ways the Infrastructure Bill Aims to Help Small Businesses

by Edgar R. Olivo

It may appear that the economy is back to business but, after experiencing the shock of COVID-19, many small businesses are still unable to recover. The recovery efforts have impacted the smallest businesses within many demographics of our communities, and access to more resources has become a priority in the Biden Administration and a major key in the Infrastructure Investment … [More]

EN NEGOCIOS: 7 formas en las que la ley de infraestructura ayudará a las pequeñas empresas

por Edgar R. Olivo

Puede parecer que la economía ha vuelto a funcionar, pero después de experimentar el impacto de COVID-19, muchas pequeñas empresas aún no pueden recuperarse. Los esfuerzos de recuperación han impactado a las empresas más pequeñas dentro de muchos datos demográficos de nuestras comunidades y el acceso a más recursos se ha convertido en una prioridad en la Administración de Biden … [More]

Q3 Arizona Business Index Released, Consumer Confidence Drops

Greater Phoenix Chamber

The Greater Phoenix Chamber recently released the Q3 Arizona Business Index™ (ABI™), powered by OH Predictive Insights (OHPI).  The study measures and interprets the health of the Arizona economy from the perspective of the Arizona consumer. “We are pleased to see job satisfaction improving as Arizona continues to rebound from the pandemic,” said Todd Sanders, president and … [More]

Is Every Company a Tech Company?

by RaeAnne Marsh

Technology is indisputably an economic driver as a sector. Is it also a driver of successful growth in other sectors? “The technology industry is critical to economic growth in any community today because it not only produces high-wage jobs, but also supports many other industries,” says Eric Miller, principal and co-owner of Phoenix Analysis & Design Technologies and … [More]

Electric Vehicles Are Hot for Arizona

by RaeAnne Marsh

There was a time when going to the mall meant shopping for clothes and home knick-knacks – offering a lot of choices thanks to there being a number of stores conveniently in one place. Now, it can mean shopping for one of an individual’s biggest purchases: a car. Electric vehicles are making this merchandizing move. Scottsdale Fashion Square boasts a collection of three … [More]

Small Business Owners Can Maximize Their Retirement Plans

by Jacob Guttman

For many small to midsize business owners, retirement doesn’t seem realistic. In fact, new research by SCORE found that 34% of business owners don’t have a retirement savings plan and 40% aren’t confident they will be able to retire before the age of 65. How to save effectively before hitting a certain age often escapes a business owner’s mind, pushed aside by a focus on … [More]

37.2% National Year-Over-Year Increase in Mortgage Fraud Risk in Q2 2021, Says Report

CoreLogic

CoreLogic Reports a An estimated 0.83% of all mortgage applications contained fraud, about 1 in 120 applications Investment properties accounted for the highest-risk applications CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its latest Mortgage Fraud Report. The report … [More]

Has the Government Created a Housing Crisis by Penalizing Fannie Mae?

inbusinessPHX.com

There has been much discussion about the inflated housing market in recent months. But what about the continuing problems of high rent and low-income earners who need government assistance to find shelter? And with eviction and foreclosure moratoriums ending in the wake of the COVID-19 pandemic, finding affordable housing could be difficult for more people, including the middle … [More]

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