Majority of Small Businesses Are Attempting to Hire, Labor Market Remains Weak

NFIB

According to NFIB’s monthly jobs report, over half (51%) of small business owners reported hiring or trying to hire in July. Forty-four percent (86 percent of those hiring or trying to hire) reported few or no qualified applicants for the positions they were trying to fill, up 1 point. Fifty-two percent of construction firms reported few or no qualified applicants and 37% cited … [More]

June International Trade in Goods and Services, Down $1.4B from May

U.S. Bureau of Economic Analysis

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $50.7 billion in June, down $4.1 billion from $54.8 billion in May, revised. U.S. International Trade in Goods and Services Deficit Deficit: $50.7 Billion -7.5%° Exports: $158.3 Billion +9.4%° Imports: $208.9 … [More]

Economy Gained 1.8M Jobs in July, Slow Recovery Expected

U.S. Bureau of Labor Statistics

Total nonfarm payroll employment rose by 1.8 million in July, and the unemployment rate fell to 10.2 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflected the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. In July, notable job … [More]

Weekly Jobless Claims Exceed 1 Million for 20th Straight Week

U.S. Department of Labor

In the week ending August 1, the advance figure for seasonally adjusted initial claimswas 1,186,000, a decrease of 249,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 1,434,000 to 1,435,000. The 4-week moving average was 1,337,750, a decrease of 31,000 from the previous week's revised average. The previous week's average was … [More]

July Commercial Chapter 11s Increase 52% over Last Year, Total Filings Down 33%

Rick McCartney

Total commercial chapter 11 filings in July 2020 increased 52 percent from the previous year, according to data provided by Epiq. Commercial chapter 11 filings totaled 643 in July 2020, expanding from the July 2019 total of 423. Conversely, total commercial filings decreased 17 percent in July 2020, as the 2,768 filings were down from the 3,314 commercial filings registered in … [More]

New Movement Launches to Help Drive More Local Spending, Reviving Main St. Economies

Alignable.com

To help drive more progress in the recovery of all small businesses and their communities across the U.S. and Canada, Alignable.com is launching #MyMoneyStaysLocal today. #MyMoneyStaysLocal is a grassroots movement encouraging business owners and community members alike to spend more money on purchases close to home. The movement was created to raise awareness of how … [More]

What Do Consumers Want Now? The Data Knows

Mike Hunter

Sign up for or log into any social media platform and you will encounter suggested buying options based on your personal interests or previous buying history. There’s a reason for that. The market is a consumers’ market. Any company that wants the chance of long-term sustainability must know as much detailed information as possible about their ideal client or consumer, says … [More]

Road to Recovery: A Look Sector by Sector

by RaeAnne Marsh

Businesses’ first reaction to COVID-19-related disruption was to retrench and protect — actions that were, essentially, reactive. While that may have been the wisest move in the short-term, it is no way to sustain a business over the long-term.  Even businesses that were proactive in their response must adjust to new realities in the economy and the business community going … [More]

Hardening in the Insurance Market

by Charles A. Touché

With the recent surge in coronavirus cases across Arizona and other parts of the country, COVID-19 remains a significant challenge for businesses, creating additional uncertainty and potential risks for their people and operations. Though a return to pre-COVID normalcy is unlikely anytime soon, businesses nevertheless must carefully and thoughtfully assess their unique risks as … [More]

Robert Blaney, U.S. Small Business Administration, Arizona District

from Robert Blaney

Much has changed since March of this year. What to wear to work today is probably not the first thought of the morning. Telework has become the norm for many and questions and probable answers about reopening abound. Small-business owners are always well-advised to back up records, store data off-site and develop a Continuity of Operations Plan (COOP) to get their business … [More]

A Vegetable’s Journey

by Jim White, Ph.D.

For more than a century, the United States has been a major producer of vegetables and fruits, with total agricultural exports — to Canada, Mexico, Taiwan, Japan and many other countries — valued in 2018 at $140 billion.  Domestic sales aren’t as rosy. As COVID-19 shuttered restaurants, hotels and school districts around the country, farmers in Arizona and around the U.S. … [More]

The Rebuilding of Our Economy: Industry Leaders Speak Out on COVID-19

by RaeAnne Marsh

Businesses of every size and in every economic sector have been restructuring their operations, their business model and, in many instances, their products and services. On our website and through our In Business Dailies, we’ve shared the stories of individual companies that have put new focus on helping their community — businesses as well as individuals — better survive the … [More]

Consumer Price Index Plunges 0.8 Percent, Core Falls 0.4 Percent

The Center for Economic and Policy Research

The overall Consumer Price Index (CPI) fell 0.8 percent in April, driven again by large price declines in sectors that were hit hard by pandemic-related shutdowns. Gas prices fell 20.6 percent, following a drop of 10.5 percent in March. They are now 32.0 percent below their year-ago level. Apparel prices had an extraordinary 4.7 percent decline, following a drop of 2.0 percent … [More]

U.S. Commission on Civil Rights Selects Polsinelli Shareholder Melissa Ho to Serve Four-Year Term on Arizona State Advisory Committee

Polsinelli June 12, 2017

Polsinelli Shareholder Melissa Ho has been selected by the U.S. Commission on Civil Rights to serve a four-year term on the Arizona State Advisory Committee (SAC).  In this role, she will provide advice and recommendations to the Commission about allegations of voting rights deprivation; race, color, religion, sexual orientation, age, disability, and national origin … [More]

Q3 Market & Economic Update

by Jeffrey Kravetz  Oct. 4, 2016

Economic growth for the year in Arizona is expected to match or outpace the national average. Job growth did slow to 1 percent in August, which may be due to a seasonal aberration, but overall was up 2.3 percent year over year and is now trailing the nation at large by just a single percentage point. Employment gains in Phoenix and Tucson, specifically, both clocked in at 2.3 … [More]

Q1 Market & Economic Update

by Jeffrey Kravetz

Arizona’s performance is expected to remain moderately strong, picking up steam over the next year in new jobs, population, and income growth. Job growth beat the national average last year, but like other gains across a wider spectrum of data, it looks weaker when compared to the state’s historical performance over a 30-year period preceding the financial crisis from … [More]

Q4 2015 Market and Economic Update

by Jeffrey Kravetz

Arizona’s economy continues to show solid but measured growth heading into the new year, according to the Arizona Economic Outlook from Eller College of Management’s Economic and Business Research Center. Job growth in the state is largely driven by improvements in the Phoenix area, while by the end of Q3, the Tucson metropolitan statistical area had generated basically no net … [More]

Arizona Agriculture in 2013

by Sue Kern-Fleischer

Last month, the 2012 Census of Agriculture mailed forms to farmers and ranchers nationwide asking them questions relating to all areas of farming and ranching operations, including production expenses, market value of products and operator characteristics. In 2007, Arizona was seen as a major agricultural state, ranking third in the nation for total value of vegetables, melons … [More]

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