The job market will continue its recovery well into 2022, research from talent solutions and business consulting firm Robert Half suggests. According to the company’s State of U.S. Hiring Survey of more than 2,300 senior managers, 65% of respondents anticipate adding new permanent positions in the first half of the year, up 14 points from six months ago; another 33% expect to … [More]
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2 in 3 U.S. Companies Plan to Expand Their Teams in First Half of 2022, Says Report
inbusinessPHX.com
Arizona Business Index Reveals Continued Concern About Inflation and Pandemic, Economic Optimism Declines
Greater Phoenix Chamber
The Greater Phoenix Chamber recently released the Q4 Arizona Business Index™ (ABI™), powered by OH Predictive Insights (OHPI). The study measures and interprets the health of the Arizona economy from the perspective of the Arizona consumer. The final quarter of 2021 saw dips in consumer sentiment, economic optimism, and job satisfaction. Consumers also weighed in on their … [More]
SBA Commits to Continued Equitable Access to Resources and Opportunities to Indian Country Businesses
U.S. Small Business Administration
Administrator Isabella Casillas Guzman head of the U.S. Small Business Administration (SBA), and the voice for America’s 32.5 million small businesses in President Biden’s Cabinet signed the Agency's Tribal Consultation Policy of 2022. The Agreement, which directs the SBA’s coordination with Tribal governments, also recognizes the Federal Government’s unique relationship with … [More]
Investing in Arizona Workers, Ducey Outlines Plan
inbusinessPHX.com
Governor Doug Ducey outlined an ambitious 2022 policy agenda earlier this month, including an important initiative to significantly expand Arizona’s talented workforce. The Governor proposes to establish six advanced manufacturing training centers facilitated by community colleges across the state. “Let’s invest in the worker, arming them with the skills they need for our … [More]
Personal Income Rises Less Than Expected in December 2021
U.S. Bureau of Labor Statistics
Personal income increased $70.7 billion (0.3 percent) in December according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $39.9 billion (0.2 percent) and personal consumption expenditures (PCE) decreased $95.2 billion (0.6 percent). Real DPI decreased 0.2 percent in December and Real PCE decreased 1.0 percent; … [More]
Phoenix Second Highest Rate of Inflation, Says Report
inbusinessPHX.com
The most popular U.S. migration destinations tend to have high rates of inflation, according to a new report from Redfin, the technology-powered real estate brokerage. Atlanta, the 10th most popular migration destination in the fourth quarter, saw prices of goods and services increase by 8.9% year over year during the same period, the highest inflation rate of all the metros … [More]
United Officially Opens Flight Academy, Welcomes Historic Inaugural Pilot Class to Goodyear Facility
inbusinessPHX.com
United, the only major U.S. airline to own a flight training school, officially opened United Aviate Academy today and welcomed a historic inaugural class of future pilots, 80% of whom are women or people of color. United Aviate Academy is a key part of the airline's goal to train about 5,000 new pilots at the school by 2030, with at least half women or people of color. This … [More]
Steve Seleznow Announces Retirement from Arizona Community Foundation
inbusinessPHX.com
The Arizona Community Foundation announced that Steve Seleznow will retire from his role as President and CEO of Arizona’s statewide community foundation after 13 years of leadership. Seleznow has been a transformative CEO and will continue to lead ACF through March 31, 2023. The ACF Board of Directors selected Carlson Beck—a national executive search firm focused on … [More]
U.S. Economy Grew at Fastest Rate in 2021 since 1984
U.S. Bureau of Labor Statistics
Real gross domestic product (GDP) increased at an annual rate of 6.9 percent in the fourth quarter of 2021 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 2.3 percent. For the full year, the economic expansion was 5.7 percent, the biggest since 1984. The GDP estimate released today is … [More]
U.S. Weekly Jobless Claims Trend Down, First Time in Four Weeks
U.S. Department of Labor
In the week ending January 22, the advance figure for seasonally adjusted initial claims was 260,000, a decrease of 30,000 from the previous week's revised level. The previous week's level was revised up by 4,000 from 286,000 to 290,000. The 4-week moving average was 247,000, an increase of 15,000 from the previous week's revised average. The previous week's average was revised … [More]
U.S. Housing Market Has Doubled in Value since the Great Recession after Gaining $6.9 Trillion in 2021
Zillow
U.S. housing gained a record $6.9 trillion in 2021, nearly doubling what was previously the largest annual gain of $3.7 trillion in 2005. The full U.S. housing stock is now worth $43.4 trillion, according to a new Zillow® analysis. Strong demand met limited supply in 2021, driving home values up more than ever before — home values grew 19.6% last year, an all-time high in … [More]
2021 U.S. Home Prices Hit Records Far and Wide, Says Report
Radian
According to Radian Home Price Index (HPI) data released today by Red Bell Real Estate, LLC, a Radian Group Inc. company (NYSE: RDN), home prices nationally rose from the end of November 2021 to the end of December 2021 at an annualized rate of 15.9 percent, and December 2021 marked the tenth consecutive month in which month-over-month home prices rose more than 10 percent on … [More]
Working Remote in 2022? Arizona Ranks as the Best Place According to a Recent Study
inbusinessPHX.com
Dwellics, the authority in U.S. City Data and personalized advice on where to move, today unveils the 2022 Report, Top 100: Best Cities to Work Remote in 2022. The Report reveals several surprising trends, including Arizona exceeding all other states in America by scoring three of the top ten positions on the list and six of the top twenty. Arizona cities … [More]
Phoenix Unemployment Drops to 2.4%; Workforce Size Sets New Record
by Eric Jay Toll, PHXNewsroom
Greater Phoenix ended the year with a workforce of nearly 2.3 million, a 5.7 percent year-over-year increase. The seasonally unadjusted unemployment rate for the metropolitan area dropped from 2.8 percent in November to 2.4 percent in December 2021. It was 6.4 percent a year ago. In Greater Phoenix, 122,700 new workers were hired in the year-over-year comparison with … [More]
Rental Market Wraps Up 2021 with 5.3 Times Faster Price Growth, Phoenix Metro 7th Fastest
inbusinessPHX.com
New data shows national rents grew five times faster in 2021 than in 2020, on average, according to the Realtor.com® Monthly Rental Report released today. In December, rents notched the sixth straight month of double-digit yearly increases nationwide and surged in the majority of large metros, led by Miami, Tampa, Fla. and Orlando with gains of more than 34% … [More]
XNRGY Announces Construction of U.S. Headquarters in Arizona
inbusinessPHX.com
XNRGY, one of the largest custom air handling manufacturers in North America, announced today the construction of a new cutting-edge manufacturing facility in the Greater Phoenix area, which will be designated as their headquarters. XNRGY is growing exponentially due to high demand for their premier climate technologies. XNRGY’s state-of-the-art 1 million-square-foot facility … [More]
Commercial and Multifamily Construction Starts Post Solid Recovery in 2021, Metro Phoenix at #9
inbusinessPHX.com
The value of commercial and multifamily construction starts in the top 20 metropolitan areas of the U.S. increased 18% from 2020 to 2021, according to Dodge Construction Network. Nationally, commercial and multifamily construction starts increased 16% in 2021. In the leading half (the top 10 metro areas), commercial and multifamily starts rose 18% in 2021, with two metro areas, … [More]
Tourism: Hotels Continue Moving Toward Recovery in 2022
American Hotel & Lodging Association
The hotel industry will continue moving toward recovery in 2022, but the path will be uneven and potentially volatile, and full recovery is still several years away, according to the American Hotel & Lodging Association (AHLA)’s 2022 State of the Hotel Industry Report. The report, which reveals shifts in consumer and business sentiment, was created in collaboration with … [More]
