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Economy & Trends  |    |  

Minority-Owned Businesses Are Rising Out of the Pandemic

by Ed Aaronson

According to the Arizona Hispanic Chamber of Commerce, minority-owned businesses are unique in that 56 percent are family-owned seeing an average revenue of $110,000 compared to non-minority-owned businesses that generate $500,000 on average per year.  The stakes are higher for minority-owned businesses in Arizona because the success of the family is directly tied to the … [More]

Economy & Trends  |    |  

Up to 47,000 Arizona Jobs at Risk Due to Proposed International Tax Hikes

inbusinessPHX.com

An international tax increase on U.S. multinational companies operating in Arizona could create substantial economic uncertainty — and place up to 47,000 Arizona jobs at risk over the next five years. This is the conclusion of a recent report, co-authored by Arizona State University’s Seidman Research Institute and Ernst & Young’s Quantitative Economics and Statistics Team … [More]

Economy & Trends  |    |  

CPI for All Items Rises 0.3% in August: Gasoline, Food, Shelter among Indexes Rising

U.S. Bureau of Labor Statistics

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3 percent in August on a seasonally adjusted basis after rising 0.5 percent in July, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 5.3 percent before seasonal adjustment. The indexes for gasoline, household furnishings and operations, food, and … [More]

Economy & Trends  |    |  

Technology Industry Continues to Be the Catalyst for Growth According to Arizona Technology Council’s Industry Impact Report

Arizona Technology Council

The Arizona Technology Council today released its Q2 2021 Arizona Technology Industry Impact Report, providing new details on the growth of the state’s technology sector. A positive indicator in the report was STEM job posts reached an all-time high of 37,506 in June. In addition, the number of technology jobs and wages increased by 3.25% and 2.96%, respectively, over the … [More]

Economy & Trends  |    |  

U.S. Jobless Claims Hit All-Time Pandemic Low, Employers Retain Workers

U.S. Department of Labor

In the week ending September 4, the advance figure for seasonally adjusted initial claims was 310,000, a decrease of 35,000 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 5,000 from 340,000 to 345,000. The 4-week moving average was 339,500, a decrease of … [More]

Economy & Trends  |    |  

U.S. Home Price Index Annual Growth Reaches All-Time High in July, Says Report

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 July 2021. With mortgage rates remaining near record lows, the ongoing challenges of persistent demand and constricted supply continue to put upward pressure on home prices. A recent CoreLogic survey of … [More]

Economy & Trends  |    |  

Payroll Employment Rises by 235,000 in August, Unemployment Rate Declines to 5.2%

U.S. Bureau of Labor Statistics

Total nonfarm payroll employment rose by 235,000 in August, and the unemployment rate declined by 0.2 percentage point to 5.2 percent, the U.S. Bureau of Labor Statistics reported today. So far this year, monthly job growth has averaged 586,000. In August, notable job gains occurred in professional and business services, transportation and warehousing, private … [More]

Economy & Trends  |    |  

U.S. Jobless Claims Hit Pandemic Low, Employment Strengthening

U.S. Department of Labor

In the week ending August 28, the advance figure for seasonally adjusted initial claims was 340,000, 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 1,000 from 353,000 to 354,000. The 4-week moving average was 355,000, a decrease of … [More]

Economy & Trends  |    |  

Staggering 50% of Small Business Owners Report Job Openings They Can’t Fill, Says Report

NFIB

Fifty percent of all small business owners reported job openings they could not fill in the current period, a record high reading according to NFIB’s monthly jobs report. The number of unfilled job openings has remained far above the 48-year historical average of 22%. “Small employers are struggling to fill open positions and find qualified workers resulting in … [More]

Economy & Trends  |    |  

67% of Business Travelers to Reduce Trips amid Rising COVID-19 Cases

American Hotel & Lodging Association

U.S. business travelers are scaling back travel plans amid rising COVID-19 cases, with 67% planning to take fewer trips, 52% likely to cancel existing travel plans without rescheduling, and 60% planning to postpone existing travel plans, according to a new national survey conducted by Morning Consult on behalf of the American Hotel & Lodging Association (AHLA). Despite … [More]

Economy & Trends  |    |  

House Prices over 40% More Affordable Than Housing Boom Peak, According to Real House Price Index

First American Financial Corporation

First American Financial Corporation, a leading global provider of title insurance, settlement services and risk solutions for real estate transactions, today released the June 2021 First American Real House Price Index (RHPI). The RHPI measures the price changes of single-family properties throughout the U.S. adjusted for the impact of income and interest rate changes on … [More]

Economy & Trends  |    |  

Investor Homebuying Report Shows Slowing Purchase Activity amid Shifting Market Dynamics — A Decade in Review

CoreLogic

CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, shared its Investor Homebuying report highlighting home U.S. purchase trends between 2011 and 2020. In the report, CoreLogic investigates activity nationally by both price tier and investor size and looks at which regions have had the most and least activity. A … [More]

Economy & Trends  |    |  

The Anticipated Tsunami of Commercial Bankruptcies Has Not Happened – Here’s Why

by Anthony Austin

Since March 2020, there has been a great deal of hand wringing over how businesses would weather the economic storm created by COVID-19. As the lockdowns dragged on longer than anyone expected, many speculated that the resulting economic chaos would produce a swath of defaults and bankruptcy filings. Now, more than a year removed from the initial lockdowns, are those … [More]

Economy & Trends  |    |  

U.S. Weekly Jobless Claims Rise but Stay Near Last Week’s Pandemic Low

U.S. Department of Labor

In the week ending August 21, the advance figure for seasonally adjusted initial claims was 353,000, an increase of 4,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 348,000 to 349,000. The 4-week moving average was 366,500, a decrease of 11,500 from the previous week's revised average. This is the lowest level for this average … [More]

Economy & Trends  |    |  

Quarterly Trends Update on the Construction, Manufacturing, Retail, and Services Industries

NFIB

The NFIB Research Center released a quarterly Small Business Economic Trends industry report highlighting the construction, manufacturing, retail, and services industries. NFIB’s July Small Business Economic Trends report showed the overall Optimism Index at 99.7. “Small businesses are working hard to recover from the pandemic while still facing strong headwinds,” … [More]

Economy & Trends  |    |  

Americans Are Willing to Take Pay Cuts or Forgo Benefits to Work from Home, Says Survey

GoodHire

GoodHire, a leading provider of employment and background screening services, today released its inaugural report, “The State of Remote Work in 2021: A Survey of the American Workforce.” The report is based on an online survey of 3,500 Americans, ages 21-59 years, who shared their opinions about jobs, money and life in the era of remote work and COVID-19. New or not, remote … [More]

Economy & Trends  |    |  

Your Home May Be Worth More Than You Thought, as a Rental

Zillow

Memphis, Miami and Atlanta lead a host of major metros where rents are higher than typical mortgage payments, while new and improved Zillow Rental tools make it easier than ever to assess the possibility and opportunities of becoming a landlord The Great Reshuffling and the ability to work from home has severed or seriously stretched the commute for millions of Americans … [More]

Economy & Trends  |    |  

U.S. Jobless Claims Hit New Pandemic Low

U.S. Bureau of Labor Statistics

In the week ending August 14, the advance figure for seasonally adjusted initial claims was 348,000, a decrease of 29,000 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 375,000 to 377,000. The 4-week moving average was 377,750, a decrease of … [More]

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