In the week ending September 18, the advance figure for seasonally adjusted initial claims was 351,000, an increase of 16,000 from the previous week's revised level. The previous week's level was revised up by 3,000 from 332,000 to 335,000. The 4-week moving average was 335,750, a decrease of 750 from the previous week's revised average. The previous week's average was revised … [More]
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U.S. Jobless Claims Jump to 351,000, Surprise after Pandemic Lows in Past Weeks
U.S. Department of Labor
SRP Signs Contract for Its Largest Solar Power Plant in Arizona
inbusinessPHX.com
On the heels of announcing signed agreements for three new solar power plants in Arizona, SRP today announced its largest standalone solar power plant to soon be under development northwest of Flagstaff, Arizona. The solar plant, “CO Bar Solar,” is scheduled to be commercially operational in 2024 and will deliver a total of 400 megawatts (MW) of renewable energy to SRP … [More]
Housing Market Expected to Stay Stable as COVID-Era Protections End
Zillow
Desperately needed housing inventory is on the rise and expected to come primarily from sales by existing homeowners, among a host of other sources — the smallest of which is foreclosures — according to a panel of real estate experts responding to the latest Zillow Home Price Expectations Survey. The housing market is expected to stay stable as homeowners exit forbearance … [More]
Eighteen Months into Pandemic, Home Prices Continue to Rise, Home Price Index Reveals
Rick McCartney
Home prices across the United States continued to climb in August, rising at an annualized 15.9 percent from the prior month, the third consecutive month reporting an all-time record month-over-month rate, according to Radian Home Price Index (HPI) data released today by Red Bell Real Estate, LLC, a Radian Group Inc. company. The company believes the Radian HPI is the most … [More]
SBA Economic Injury Disaster Loans Available to Arizona Small Businesses Due to Recent Natural Disasters
U.S. Small Business Administration
Small nonfarm businesses in seven Arizona counties are now eligible to apply for low-interest federal disaster loans from the U.S. Small Business Administration, announced Director Tanya N. Garfield of SBA’s Disaster Field Operations Center-West. These loans offset economic losses because of reduced revenues caused by rains, flash flooding and winds in Maricopa County that … [More]
Arizona Recovers 100% of Private Sector Jobs since April 2020, Says State Report
inbusinessPHX.com
Less than a year and a half after the initial economic disruption of the COVID-19 pandemic, Arizona has already recovered more than 100 percent of private sector jobs, representing one of the fastest jobs recoveries in the nation. “The last year and a half have challenged Arizonans like never before,” said Governor Doug Ducey. “But thanks to the ingenuity and perseverance of … [More]
U.S. Jobless Claims Remain Near Last Week’s Pandemic Low
U.S. Department of Labor
In the week ending September 11, the advance figure for seasonally adjusted initial claims was 332,000, an increase of 20,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 310,000 to 312,000. The 4-week moving average was 335,750, a decrease of 4,250 from the previous week's revised average. This is the lowest level for this … [More]
COVID-19 Survey: Half of Small Employers Report Supply Chain Disruptions Are Significantly Impacting Their Businesses
NFIB
The NFIB Research Center released its latest COVID-19 survey on how the COVID-19 pandemic has affected small businesses. This is the 19th survey in the series and includes updates on supply chain disruptions, staffing shortages, sales levels, and more. The survey was conducted from September 1-6, 2021, with 586 responses collected. “Supply chain disruptions and … [More]
June U.S. Foreclosure Rate Lowest in More Than Two Decades, Says Report
CoreLogic
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report for June 2021. For the month of June, 4.4% 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 … [More]
City Manager Names New CFO, CIO, and Chief Innovation Officer
City of Phoenix
Phoenix City Manager Ed Zuercher has named three key additions to his executive team: Kathleen Gitkin as the city's Chief Financial Officer; Steen Hambric as Chief Information Officer; and Michael Hammett as the city's first Chief Innovation Officer. “Kathleen, Steen and Michael all have a solid track record … [More]
Small Business Optimism Increased Slightly in August
NFIB
The NFIB Small Business Optimism Index increased in August to 100.1, up 0.4 points from July. Five of the 10 Index components improved, four declined, and one was unchanged. The NFIB Uncertainty Index decreased seven points to 69, the lowest level since January 2016. “As the economy moves into the fourth quarter, small business owners are losing confidence in the … [More]
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]
Piper Charitable Trust Awards $123 Million in Surprise Grants to 71 Nonprofits: The Largest Single-Day Grant Initiative in Arizona History
inbusinessPHX.com
Trustees of Virginia G. Piper Charitable Trust today awarded a total of $123 million in surprise grants to 71 Arizona nonprofits—the largest single-day grant initiative in Arizona’s history. The grants were presented to the 71 awardees throughout the day on September 13, 2021—as a complete surprise. Trustees personally met with the CEOs and Board Chairs of the 71 … [More]
SBA Enhances COVID EIDL Program to Aid Small Businesses Facing Challenges from Delta Variant
U.S. Small Business Administration
Today, U.S. Small Business Administration (SBA) Administrator Isabella Casillas Guzman announced major enhancements to the COVID Economic Injury Disaster Loan (EIDL) program, a federal disaster relief loan designed to better serve and support our small business communities still reeling from the pandemic, especially hard-hit sectors such as restaurants, gyms, and hotels. The … [More]
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]
The City of Phoenix Paying Customer’s Outstanding City Services Bills
City of Phoenix
The Phoenix City Council has earmarked $5 million to help customers impacted financially by the pandemic pay utility bills. Customers can apply for the city's Deferred Payment Arrangement (DPA) Recovery Program to pay a portion of customer's outstanding city services bill. Using funding from the Federal American Rescue Plan Act (ARPA), the city will pay two-thirds of the … [More]
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]
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]
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]
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]
