Total nonfarm payroll employment rose by 467,000 in January, and the unemployment rate was little changed at 4.0 percent, the U.S. Bureau of Labor Statistics reported today. Employment growth continued in leisure and hospitality, in professional and business services, in retail trade, and in transportation and warehousing. This news release presents statistics from two … [More]
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U.S. Gains 467,000 Jobs in January, Hiring Much Stronger Than Expected
U.S. Bureau of Labor Statistics
Historic Number of Small Business Owners Raising Compensation in January, Says Report
NFIB
A historic number of small businesses are struggling to increase their workforce, according to NFIB’s monthly jobs report. A net 50% (seasonally adjusted) of small business owners reported raising compensation, up two points from December and a 48-year record high reading. A net 27% plan to raise compensation in the next three months, down five points from … [More]
U.S. Weekly Jobless Claims Fall for Second Straight Week
U.S. Department of Labor
In the week ending January 29, the advance figure for seasonally adjusted initial claims was 238,000, a decrease of 23,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 260,000 to 261,000. The 4-week moving average was 255,000, an increase of 7,750 from the previous week's revised average. The previous week's average was revised … [More]
Carvana Super Bowl Advertising Debut Promises Fans, We’ll Drive You Happy™
inbusinessPHX.com
Carvana, the industry pioneer for buying and selling cars online, announces its Super Bowl national advertising debut to show customers that their Carvana experience will leave them feeling energized, cared for and empowered. Carvana’s position as the fastest organic growth auto retailer in U.S. history proves it has successfully changed the way people buy and sell cars. … [More]
Upward Trend in Annual Home Price Appreciation Continues, Up 18.5% in December
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 December 2021. Consumer desire for homeownership against persistently low supply of for-sale homes created one of the hottest housing markets in decades in 2021 — and spurred record-breaking home … [More]
Declined for EIDL? SBA Has Updated Deadline
U.S. Small Business Administration
The U.S. Small Business Administration (SBA) announced updated guidance for those small businesses that have already applied for the Targeted EIDL Advance program, received a decline, and are interested in applying for reevaluation. Specifically, the following updated guidance is being provided: Current Targeted EIDL Advance applicants: Those interested in being … [More]
2 in 3 U.S. Companies Plan to Expand Their Teams in First Half of 2022, Says Report
inbusinessPHX.com
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]
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]
