More than three million renters said they were at risk of losing their homes with the federal eviction moratorium that set to expire on Wednesday, but a new Zillow analysis shows the number of households ultimately evicted could be as low as 130,000, depending on government action, the pace of economic recovery, and how landlords respond. That range highlights the need for … [More]
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Financial Wellness Packages: The New ‘Must-Have’ for Competitive Employers
by Rob Schwister
In an October 2020 survey released by the National Endowment for Financial Education, 84% of Americans said COVID-19 is causing stress on their personal finances. More than half of those surveyed said not having money enough saved for emergencies, retirement, college and other uses ranks among their top financial concerns. Workplace Impacts When employees are stressed and … [More]
Arizona Tied for Tops in Nation for 2020 Personal Income Growth
City of Phoenix
Arizona tied for the top slot in personal income growth comparing 2020 over 2019. Both Arizona and Montana reported an 8.4 percent hike, according to data from the U.S. Bureau of Economic Analysis. In February, Greater Phoenix gained 13,400 jobs over January 2021, putting the workforce within 3.6 percent of February 2020’s employment totals. The Arizona Office of Economic … [More]
Small Business Recovery Remains Fragile, Says Survey
NFIB
The NFIB Research Center released its latest COVID-19 survey on the impact the pandemic has had on small businesses. This survey marks NFIB’s 16th survey in the series, which started in early March 2020. Thirteen percent of small business owners report that they will have to close their doors if current economic conditions do not improve over the next six months, down from 25% … [More]
U.S. Weekly Jobless Claims Lowest since Pandemic Began
U.S. Bureau of Labor Statistics
In the week ending March 20, the advance figure for seasonally adjusted initial claims was 684,000, a decrease of 97,000 from the previous week's revised level. The previous week's level was revised up by 11,000 from 770,000 to 781,000. The 4-week moving average was 736,000, a decrease of 13,000 from the previous week's revised average. The previous week's average was revised … [More]
Vaccines and the Economic Comeback
by Edgar R. Olivo
The Arizona Department of Health Services and Governor Doug Ducey announced on Monday that registration at Arizona’s state-operated COVID-19 vaccination sites in Maricopa, Pima and Yuma counties will be open to all Arizonans 16 and older beginning at 8 a.m. Wednesday, March 24. This is great news for many who have been waiting to have access to the vaccine, especially … [More]
Low-Income Renters Left Out of Pandemic Savings
Zillow
Home values continued their march upward in February, matching record monthly growth from months prior, according to Zillow's February Market Report.[i] While home sales and appreciation soared over the course of the pandemic, rent growth slowed, seemingly a boost for rent affordability. However, it was often the more-expensive areas of metros that softened the most, providing … [More]
Carvana Shares 2020 Online Car Buying Insights and Trends in New Report
Carvana
Carvana, the second largest used auto retailer in the U.S. and leading e-commerce platform for buying and selling used cars, has released its second annual online car buying report. After an unprecedented year that saw record e-commerce adoption across the board, Carvana examined hundreds of thousands of purchases and millions of site visits to identify insights that made … [More]
U.S. Jobless Claims Unexpectedly Jump despite Easing Restrictions
U.S. Bureau of Labor Statistics
In the week ending March 13, the advance figure for seasonally adjusted initial claims was 770,000, an increase of 45,000 from the previous week's revised level. The previous week's level was revised up by 13,000 from 712,000 to 725,000. The 4-week moving average was 746,250, a decrease of 16,000 from the previous week's revised average. The previous week's average was revised … [More]
Job Satisfaction, Covid Optimism on the Rise in First Two Months of 2021, Says Phoenix Chamber Data
Greater Phoenix Chamber
The Greater Phoenix Chamber released new economic data from the Arizona Business Index™ (ABI™), powered by OH Predictive Insights (OHPI), a barometer on the health of the Arizona economy from the perspective of the Arizona consumer. This extensive statewide consumer sentiment survey provides an accurate pulse on the key indicators that drive the economy and delivers expert … [More]
1-Year Later: Arizona Nonprofits Assess Impact of Pandemic; $91M in Losses, 52% Decrease in Year-End Funding
Alliance of Arizona Nonprofits
An Alliance of Arizona Nonprofits survey showed the devastating impact of the coronavirus pandemic with more than 400 Arizona nonprofits reporting a total revenue loss of more than $91 million, a 52% drop in year-end giving and an increase of over $15 million in expenses primarily for PPE, supplies and technology. The survey, distributed in late February to both Alliance … [More]
Study Finds 8 in 10 Americans Think the Federal Minimum Wage is Too Low and Two-Thirds Support Increasing Minimum Wage to $15 Per Hour
Ipsos
Global market research firm Ipsos released a new, comprehensive federal minimum wage study, which polled more than 6,000 Americans on their knowledge of and opinions on the current federal minimum wage of $7.25 an hour. The study confirmed that the vast majority of Americans agree that the federal minimum wage is too low and should be increased to at least $15 per hour. In … [More]
Home Equity Continues to Soar: Homeowners Gained over $1.5 Trillion in Equity in 2020, Says Report
CoreLogic
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released the Home Equity Report for the fourth quarter of 2020. The report shows U.S. homeowners with mortgages (which account for roughly 62% of all properties) have seen their equity increase by 16.2% year over year, representing a collective equity gain of over $1.5 … [More]
Move Over Zoom Rooms: Luxury Kitchen Amenities are the New Pandemic Must-Haves
Zillow
After a year of eating at home -- and finding escapism in the form of freshly baked bread or desserts -- home buyers want the professional features and equipment to take their cooking to the next level. New Zillow research finds buyers are willing to pay a premium for luxury kitchen amenities. From professional appliances to quartz countertops, six out of the top 10 features … [More]
U.S. Jobless Claims Down, Pace for Layoffs Eases
U.S. Department of Labor
In the week ending March 6, the advance figure for seasonally adjusted initial claims was 712,000, a decrease of 42,000 from the previous week's revised level. The previous week's level was revised up by 9,000 from 745,000 to 754,000. The 4-week moving average was 759,000, a decrease of 34,000 from the previous week's revised average. The previous week's average was revised up … [More]
Washington Is the Best State. Arizona, Not So Much.
U.S. News & World Report
Washington is the Best State in the country, according to the 2021 U.S. News Best States rankings. U.S. News & World Report, the global authority in rankings and civic journalism, evaluated all 50 states across a range of categories to capture how states best serve their citizens. Washington is among the top 10 states in the infrastructure, education, economy, fiscal … [More]
Nearly 40% of Millennials Are Comfortable Buying a Home Online
Zillow
Tech-savvy millennials are not only driving the Zillow surfing trend, they could change the way we shop for and buy homes. A new Zillow survey1 finds the largest generation of first-time home buyers overwhelmingly want digital tools available during the home shopping process, and many are comfortable purchasing their biggest financial asset online. Nearly 40% of … [More]
U.S. Consumer Prices Rise 0.4% in February, as Expected
U.S. Bureau of Labor Statistics
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent in February on a seasonally adjusted basis after rising 0.3 percent in January, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 1.7 percent before seasonal adjustment. The gasoline index continued to increase, rising 6.4 percent … [More]
