The city of Phoenix Tuesday announced it has paused plans to implement a federal mandate requiring all city employees be vaccinated against COVID-19. This decision comes after a series of legal challenges and a ruling Tuesday from a federal judge in Georgia which temporarily halts the COVID-19 vaccine … [More]
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86% of Hotels Say Supply Chain Issues Are Impacting Operations
inbusinessPHX.com
Supply chain disruptions are impacting the operations of more than eight in ten surveyed hotels, and nearly three in four hotel operators say the disruptions are negatively impacting their business revenue, according to a new survey of American Hotel & Lodging Association (AHLA) members. Eighty-six percent of respondents reported that supply chain disruptions were having … [More]
Inflation and Supply Chain Delays May Make Debt Dangerous for U.S. Businesses in 2022
Resolute
Rising inflation and unpredictable interruptions in the supply chain are expected to eat into the profits of both manufacturers and retailers in 2022, according to the financial turnaround experts at Resolute Commercial Services (Resolute). “Any organization that depends on credit to finance its operations is likely to have difficulty in the coming years,” says Nathaniel … [More]
U.S. Annual Home Price Growth at a Record 18% in October, 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 October 2021. U.S. annual home price growth remained strong at 18% in October, the highest recorded in the 45-year history of the index. Nonetheless, monthly price growth has slowed from its April … [More]
Homebuilders Are Still Playing Catchup during Construction Boom
Zillow
We are officially in a house-permitting boom and home builder confidence is near an all-time high. A new Zillow® analysis shows how far builders still have to go to fill a 1.35 million new-home construction shortfall caused by a decade of underbuilding. New-home construction in the U.S. reached an important benchmark in February, when more than 1.5 million … [More]
Payroll Employment Rises by 210,000 in November; Unemployment Rate Declines to 4.2%
U.S. Bureau of Labor Statistics
Total nonfarm payroll employment rose by 210,000 in November, and the unemployment rate fell by 0.4 percentage point to 4.2 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in professional and business services, transportation and warehousing, construction, and manufacturing. Employment in retail trade declined over the month. This … [More]
Record Number of Small Business Owners Report Labor Quality as Top Business Problem
NFIB
Small business owners continue to struggle to increase their workforce with 29% of owners reporting labor quality as their top business problem in November, a 48-year record high. Ten percent of owners cited labor costs as their top problem, according to NFIB’s monthly jobs report. “Unfortunately, the tight labor market has not eased for small business owners,” … [More]
Weekly Jobless Claims Less Than Expected, Job Market Is Coming Back
U.S. Department of Labor
In the week ending November 27, the advance figure for seasonally adjusted initial claims was 222,000, an increase of 28,000 from the previous week's revised level. The previous week's level was revised down by 5,000 from 199,000 to 194,000. The 4-week moving average was 238,750, a decrease of 12,250 from the previous week's revised average. This is the lowest level for this … [More]
Amazon Investing in 274 Renewable Energy Projects Globally, Including Solar Projects in Arizona
Amazon
Amazon announced 18 new utility-scale wind and solar energy projects across the U.S., Finland, Germany, Italy, Spain, and the U.K., totaling 5.6 gigawatts (GW) of procured capacity to date in 2021. Amazon now has 274 renewable energy projects globally and is on a path to power 100% of its business operations with renewable energy by 2025—five years earlier than its original … [More]
Health Plan Delivers Lower Costs and a Patient-Focused Health Care Experience for Arizonans
UnitedHealthcare
UnitedHealthcare has introduced a new health plan that offers consumers in Southwest Arizona personalized and seamless customer support as well as the opportunity to save up to 15% on premiums. The Doctors Plan of Arizona provides access to quality, affordable, patient-focused health care for people with employer-sponsored health coverage in Arizona's Maricopa and Pinal … [More]
SBA Is Delivering Support to America’s Small Businesses, Helping Them Recover from the COVID-19 Pandemic
U.S. Small Business Administration
While the holidays may still look a little different this year, the U.S. has made significant strides to ensure Americans can safely congregate with their loved ones for the Thanksgiving holiday and take part in celebrations to shop local and small on Small Business Saturday. Last year, shoppers came together in full force to support their local communities, and Small Business … [More]
Maricopa County Ranked No. 1 Again for Talent Attraction
Arizona Commerce Authority
At a time when workers are in high demand across the country, Maricopa County’s efforts to attract skilled talent lead the nation, according to a new report. Labor market analyst EMSI ranked the Phoenix region no. 1 in talent attraction, the second year in a row and 4th time in six years. According to the report, Arizona’s largest county saw the highest increase of working age … [More]
House-Buying Power Exceeds Median House Prices in Most Markets
First American Financial Corporation
First American Financial Corporation, a leading global provider of title insurance, settlement services and risk solutions for real estate transactions, today released the September 2021 First American Real House Price Index (RHPI). The RHPI measures the price changes of single-family properties throughout the U.S. adjusted for the impact of income and interest rate changes on … [More]
Micro and Small Business Grants Up to $15K Now Available for Phoenix Businesses
City of Phoenix
Small business resiliency grants up to $15,000 are available beginning this week for Phoenix businesses through the PHXbizGrants program. An allocation of $8 million in funds from the American Rescue Plan Act of 2021 by the Phoenix City Council created a program helping micro and small businesses with the pandemic’s economic impact. The PHXbizGrants application portal is now … [More]
Federal Minimum Wage Increases to $15 per Hour
U.S. Department of Labor
On November 22, 2021, the Department announced publication of the final rule, “Increasing the Minimum Wage for Federal Contractors.” The Department has finalized regulations to implement Executive Order 14026, “Increasing the Minimum Wage for Federal Contractors,” which was signed by President Joseph R. Biden Jr. on April 27, 2021. Executive Order 14026 states that the Federal … [More]
U.S. Weekly Jobless Claims Hit Lowest Level since 1969
Rick McCartney
In the week ending November 20, the advance figure for seasonally adjusted initial claims was 199,000, a decrease of 71,000 from the previous week's revised level. This is the lowest level for initial claims since November 15, 1969 when it was 197,000. The previous week's level was revised up by 2,000 from 268,000 to 270,000. The 4-week moving average was 252,250, a decrease of … [More]
Arizona Public Universities’ Enrollment Growing with Notable Increase in Online Programs
inbusinessPHX.com
During fall 2021, overall enrollment at Arizona’s public universities increased with notable growth in students taking online classes, according to the Fiscal Year 2022 Fall Enrollment Report approved by the Arizona Board of Regents. Online degree program students now comprise a third - 33.4% - of the university system’s total enrollment. Total student enrollment at … [More]
Federal Officials Sign Grant Agreement for Northwest Extension II
inbusinessPHX.com
Federal and local dignitaries gathered Friday to celebrate the signing of a $158 million full funding grant agreement for the Northwest Light Rail Extension Phase II (NWEII). The extension adds 1.6 miles of track, three stations and a multimodal transit center to the existing 28-mile light rail system. The event culminated an exciting week for transportation with the … [More]
AZ Inno: A New National Effort Wants to Focus on the Long Game for Microchips
inbusinessPHX.com
Amid high demand for microchips, there is a new, national effort to chart the future of the U.S. semiconductor industry — and it runs right through Arizona. The National Semiconductor Economic Roadmap, known as NSER (pronounced like “answer”), launched on September 28, 2021, with a mission to “boost U.S. semiconductor competitiveness through a focus on the workforce, … [More]
COVID-19 Vaccine Boosters Now Available to Everyone 18 and Older
Arizona Department of Health Services
Expanding eligibility for COVID-19 vaccine boosters to everyone 18 and older is welcome news as the holiday season nears in Arizona. Following approval by the Food and Drug Administration (FDA), the Centers for Disease Control and Prevention (CDC) today recommended booster doses of the Pfizer or Moderna vaccines for all adults who are at least six months past their second … [More]
