In the week ending August 22, the advance figure for seasonally adjusted initial claims was 1,006,000, a decrease of 98,000 from the previous week's revised level. The previous week's level was revised down by 2,000 from 1,106,000 to 1,104,000. The 4-week moving average was 1,068,000, a decrease of 107,250 from the previous week's revised average. The previous week's average … [More]

Real gross domestic product (GDP) decreased at an annual rate of 31.7 percent in the second quarter of 2020 (table 1), according to the "second" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP decreased 5.0 percent. The GDP estimate released today is based on more complete source data than were available for the "advance" estimate … [More]

The Arizona Department of Economic Security (DES) announced today it has distributed more than $10 billion in state Unemployment Insurance (UI),Pandemic Unemployment Assistance (PUA), Federal Pandemic Unemployment Compensation(FPUC) and Lost Wages Assistance (LWA) since the week ending March 7, 2020. Last week,Arizona became the first state in the nation to begin issuing LWA. … [More]

The Federal Deposit Insurance Corporation (FDIC) reported that commercial banks and savings institutions saw a decrease in net income of 70 percent from a year ago, while liquidity and capital levels remained very strong to meet loan demand and absorb any losses in the future. For the 5,066 commercial banks and savings institutions insured by the FDIC, aggregate net income … [More]

CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released its latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes nationally and across more than 80 metropolitan areas. Data collected for June 2020 shows a national rent increase of 1.4% year over year, down from a 2.9% year-over-year … [More]

In the week ending August 15, the advance figure for seasonally adjusted initial claims was 1,106,000, an increase of 135,000 from the previous week's revised level. The previous week's level was revised up by 8,000 from 963,000 to 971,000. The 4-week moving average was 1,175,750, a decrease of 79,000 from the previous week's revised average. The previous week's average was … [More]

In the week ending August 8, the advance figure for seasonally adjusted initial claims was 963,000, a decrease of 228,000 from the previous week's revised level. The previous week's level was revised up by 5,000 from 1,186,000 to 1,191,000. The 4-week moving average was 1,252,750, a decrease of 86,250 from the previous week's revised average. The previous week's average was … [More]

As the meetings industry continues to struggle amid the ripple effects of global pandemic Covid-19, the Phoenix Convention Center with partner Visit Phoenix paves a new path for recovery. Bookings into the Future As the primary booking agent for the Phoenix Convention Center, Visit Phoenix works with the facility along with downtown hotels to book conventions into the … [More]

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6 percent in July on a seasonally adjusted basis, the same increase as in June, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 1.0 percent before seasonal adjustment. The gasoline index continued to rise in July after increasing sharply in June and … [More]

The Pac-12 CEO Group voted unanimously to postpone all sport competitions through the end of the 2020 calendar year. The Conference comprises 12 leading U.S. universities, including the University of Arizona and Arizona State University. The decision was made after consultation with athletics directors and with the Pac-12 COVID-19 Medical Advisory Committee who expressed … [More]