U.S. Employers Added 559K Jobs in May, Unemployment Rate Fell to 5.8%

U.S. Bureau of Labor Statistics

Total nonfarm payroll employment rose by 559,000 in May, and the unemployment rate declined by 0.3 percentage point to 5.8 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in leisure and hospitality, in public and private education, and in health care and social assistance. This news release presents statistics from two monthly … [More]

Nearly Half of Small Businesses Unable to Fill Job Openings

NFIB

A record-high 48% of small business owners in May reported unfilled job openings (seasonally adjusted), according to NFIB’s monthly jobs report. May is the fourth consecutive month of record-high readings for unfilled job openings and is 26 points higher than the 48-year historical reading of 22%. “Small business owners are struggling at record levels trying to get … [More]

U.S. Jobless Claims Continue to Fall, Lowest since Beginning of Pandemic

U.S. Department of Labor

In the week ending May 29, the advance figure for seasonally adjusted initial claimswas 385,000, a decrease of 20,000 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 down by 1,000 from 406,000 to 405,000. The 4-week moving average was 428,000, a decrease of 30,500 … [More]

US Home Prices Post Third Month of Double-Digit Growth in April, CoreLogic Reports

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 April 2021. Sparse inventory and high demand continues to place upward pressure on home prices, creating challenges across generations as buyer preferences shift. Younger millennials continue to enter the … [More]

Rocky Mountain Region’s Middle Market Recovering Faster Than National Average

by Celia Dietrich and Doug Farren

A collaboration between Dietrich Partners, a Denver-based management consulting firm, and the National Center for the Middle Market, housed at The Ohio State University Max M. Fisher College of Business, recently released the findings from the Rocky Mountain Region Middle Market 2020 Performance and 2021 Outlook report. The report reveals that the Rocky Mountain region’s middle … [More]

Tax Advantage: Employee Retention Credit

by Eric Stenson

As part of the CARES Act introduced in 2020, Congress created a new tax credit to incentivize employers to keep workers on the payroll during the pandemic. The employee retention credit is an offset to certain payroll taxes; it is not an income tax credit. The credit, which began on March 12, 2020, was originally set to expire at the end of 2020. The Consolidated Appropriations … [More]

Phoenix Tops the Nation in Population Growth for the Fifth Year in a Row

by Eric Jay Toll

Say “hi” to 25,194 new neighbors. They pushed Phoenix way out in front making this the fifth year in a row that the city is America’s fastest-growing. The 25,194 new Phoenix residents this year is slightly below the 10-year average of 25,912, however, Phoenix continues to take the largest share of Maricopa County’s population growth, with nearly four in 10 new county … [More]

U.S. Jobless Claims Fall to 406k, New Pandemic Low

U.S. Department of Labor

In the week ending May 22, the advance figure for seasonally adjusted initial claims was 406,000, a decrease of 38,000 from the previous week's unrevised level of 444,000. This is the lowest level for initial claims since March 14, 2020 when it was 256,000. The 4-week moving average was 458,750, a decrease of 46,000 from the previous week's unrevised average of 504,750. This is … [More]

Water Economy: 5 Ways Small Businesses Can Conserve Our Most Precious Resource

by Edgar R. Olivo

Water is at the core of Arizona’s economy, lifestyle and uniqueness. Clean, reliable water sources are important for our communities and economy to thrive. Small businesses from all regions and industry sectors of Arizona’s economy have an active role in supporting policy and investments to secure Arizona’s water future. Arizona uses around 36% of its water from the Colorado … [More]

U.S. Jobless Claims at All-Time Pandemic Low

U.S. Department of Labor

In the week ending May 15, the advance figure for seasonally adjusted initial claims was 444,000, a decrease of 34,000 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 473,000 to 478,000. The 4-week moving average was 504,750, a decrease of 30,500 … [More]

U.S. Skilled Freelancers Are Estimated to Have Earned $234 Billion in 2020, Says Report

Fiverr

Fiverr International Ltd., the company that is changing how the world works together, today released its fourth annual Freelance Economic Impact Report, a comprehensive study that identifies and profiles the largest markets in the United States for skilled freelance workers. In partnership with Rockbridge Associates, the report analyzes secondary data sources, including the … [More]

Urban Hotels Hit Hard by Pandemic, Recovery Expected to Take Years

American Hotel & Lodging Association

A national survey conducted by Morning Consult commissioned by the American Hotel & Lodging Association (AHLA) found that only 29% of Americans would consider traveling to a city or urban destination this summer, further showing the economic devastation facing urban markets, which rely heavily on business from events and group meetings, underscoring the need for targeted … [More]

Record Growth Drives Typical Home Values Up 11.6% over Last Year

Zillow

Seemingly endless demand and low supply have driven record-breaking home value appreciation over the past year, Zillow's® latest Market Report1 shows. April pushed the envelope even further: Annual home value growth for a typical U.S. home is 11.6%, the highest seen since 2005. Today's rapid rise in prices may recall that of the mid-2000s, stoking unfounded fears of another … [More]

Seasonal Slide: U.S. Mortgage Delinquency Rates Level Off in February, Says Report

CoreLogic

CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report for February 2021. For the month of February, 5.7% 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 2.1-percentage point increase … [More]

U.S. Jobless Claims Fall to Another Pandemic Low

U.S. Department of Labor

In the week ending May 8, the advance figure for seasonally adjusted initial claims was 473,000, a decrease of 34,000 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 9,000 from 498,000 to 507,000. The 4-week moving average was 534,000, a decrease of 28,250 … [More]

Employees Want Remote and Hybrid Work More Than Employers Do, Says Survey

Littler

Littler, the world’s largest employment and labor law practice representing management, has released the results of its ninth annual survey, completed by 1,160 in-house lawyers, C-suite executives and human resources professionals. The Littler® Annual Employer Survey, 2021 finds employers navigating a host of issues in the transition to a post-pandemic future – chief among … [More]

Arizona’s Economic Outlook Ranking Falls, Says Report

NFIB

The latest annual Rich States, Poor States report released today had some sobering news for Arizona, which came in 13th place in the report’s economic outlook ranking. “While we slipped three places in the ranking, are no longer in the top ten, and are approaching what could be a crisis of competitiveness, hope still remains that we can correct course,” said Chad Heinrich, … [More]

Maricopa County #1, Greater Phoenix #2 Fastest U.S. Metro Growth in 2020

City of Phoenix

When the news gets out that Greater Phoenix is one of the top places in the nation to find a new job opportunity, people start heading to Arizona. Late in 2018 and early in 2019, that news started getting out in ranking after ranking. Job opportunities await and a new population follows. The jobs available today are filling roles in the expanding knowledge economy, and … [More]

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