On December 17, 2021, in a 2-1 decision, the 6th Circuit Court of Appeals allowed OSHA’s Vaccination and Testing Emergency Temporary Standard (“ETS”) to move forward by lifting an earlier court’s stay that had put the ETS on hold. In response to the court’s decision, OSHA has initiated an aggressive implementation and enforcement schedule. While OSHA expects covered … [More]
Phoenix Metro is #1 Destination for Those Moving from Chicago, Says Report
Allied Van Lines and Zillow collaborated to provide insights into moving and housing trends in the midst of a COVID economy. Florida continued to be a top destination for movers this year, as people sought warm weather, beaches and abundant rental properties. That's a key takeaway from the latest Magnet States Report, which analyzes moves by thousands of Allied Van Lines … [More]
Arizona Reaches Full Jobs Recovery
With the November employment report showing 27,300 jobs added last month, Governor Ducey announced that Arizona has now gained back the total number of jobs lost during the pandemic. Arizona is just the third state in the nation to reach full employment recovery. Nationally, the U.S. has recovered 83% of jobs lost since last year. The November report also showed a decline in … [More]
U.S. Weekly Jobless Claims Increase by 18K, Rising from 52-Week Low
In the week ending December 11, the advance figure for seasonally adjusted initial claims was 206,000, an increase of 18,000 from the previous week's revised level. The previous week's level was revised up by 4,000 from 184,000 to 188,000. The 4-week moving average was 203,750, a decrease of 16,000 from the previous week's revised average. This is the lowest level for this … [More]
Water Agencies Announce Partnership to Invest $200M in Conservation Efforts to Bolster Colorado River’s Lake Mead
Water agencies across Arizona, California and Nevada, together with the Department of the Interior, today announced a historic effort to invest up to $200 million in projects over the next two years to keep the Colorado River’s largest reservoir, Lake Mead, from dropping to critically low levels. The agreement, known as the 500+ Plan, aims to add 500,000 acre-feet of … [More]
Mortgage Delinquency Declines across the US in September to Approach Pre-Pandemic Levels, Says Report
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report for September 2021. For the month of September, 3.9% 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 2.4-percentage point … [More]
Small Business Optimism Up Slightly in November
The NFIB Small Business Optimism Index increased slightly in November by 0.2 points to 98.4. Four of the 10 Index components improved, four declined, and two were unchanged. The NFIB Uncertainty Index decreased four points to 63. “As the end of the year nears, the outlook for business conditions is not encouraging to small business owners as lawmakers propose … [More]
Small Business Economic Trends Report Reveals 42-Year High in One Component
Today’s release of the NFIB's monthly look at the nation’s small-business economy is certain to raise eyebrows in one of the poll’s 10 components—The net percentage of small-business owners raising selling prices jumped six points to a net 59%, the highest reading since October 1979. Other key findings included: Owners expecting better business conditions over the next … [More]
Homeowners Gained More Than $3.2 Trillion in Equity in Q3 2021, Says Report
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released the Homeowner Equity Report for the third quarter of 2021. The report shows U.S. homeowners with mortgages (which account for roughly 63% of all properties) have seen their equity increase by 31.1% year over year, representing a collective equity gain of over $3.2 … [More]
Local Governments Unite to Reduce Homelessness
For the first time, local and tribal governments have rallied around a single plan to respond to homelessness in the region. “Pathways Home, the Regional Homelessness Action Plan for Local and Tribal Governments,” was unanimously approved today by the Maricopa Association of Governments (MAG) Regional Council. “This is a monumental step for the region in creating lasting … [More]
Quarterly Update on the Construction, Manufacturing, Retail, and Services Industries Released
The NFIB Research Center released the quarterly Small Business Economic Trends industry report, highlighting the construction, manufacturing, retail, and services industries. “Small businesses in every industry are facing challenges like the staffing shortages and supply chain disruptions, which is impacting owners’ optimism,” said Holly Wade, Executive Director of … [More]
Grand Canyon University Refinances Loan Held by GCE
Grand Canyon University (GCU) has successfully completed a $1.2 billion bond offering to refinance the remaining balance of the secured note that was issued in 2018 as part of the purchase of the University related to its transition back to 501(c)(3) tax-exempt nonprofit status and additional loans made to acquire capital assets after the transaction … [More]
Consumer Prices Rose at the Fastest Pace since 1982 Last Month
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.8 percent in November on a seasonally adjusted basis after rising 0.9 percent in October, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 6.8 percent before seasonal adjustment. The monthly all items seasonally adjusted increase was the result of … [More]
U.S. Weekly Jobless Claims Fall to 52-Year Low
In the week ending December 4, the advance figure for seasonally adjusted initial claims was 184,000, a decrease of 43,000 from the previous week's revised level. This is the lowest level for initial claims since September 6, 1969 when it was 182,000. The previous week's level was revised up by 5,000 from 222,000 to 227,000. The 4-week moving average was 218,750, a decrease of … [More]
Alerus to Acquire Metro Phoenix Bank
Alerus Financial Corporation announced the signing of a definitive agreement and plan of merger to acquire MPB BHC, Inc., the bank holding company for Metro Phoenix Bank, the largest full-service community bank headquartered in Phoenix. The transaction represents the twenty-fifth acquisition for Alerus since 2000 as part of its long-term plan to continually expand its four … [More]
City of Phoenix Vaccine Mandate Paused
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]
86% of Hotels Say Supply Chain Issues Are Impacting Operations
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
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]