Workers saw record hourly earnings growth and employment levels continued to rise as 2021 drew to a close. This is according to the aggregated payroll data of approximately 350,000 Paychex clients with fewer than 50 employees, released monthly in the Paychex | IHS Markit Small Business Employment Watch. The December data shows hourly earnings growth improved to 4.27 percent, … [More]
Tampa Named Number One Hottest Housing Market for 2022, Phoenix Is Eighth
The hottest housing market of 2022 will be Tampa, according to a new Zillow® analysis. Rounding out the top five are Jacksonville, Raleigh, San Antonio and Charlotte in what is anticipated to be another hot year for housing across the Sun Belt. Zillow economists expect the housing market to back off just a bit from a record-breaking pace in 2021, but home shoppers … [More]
Annual Home Price Appreciation Continues to Accelerate, Up 18.1% in November
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for November 2021. While 2021 was a record-breaking year for U.S. home price growth, for many prospective buyers the hot housing market will continue to exacerbate ongoing affordability challenges into the new … [More]
2021 In Review: A Year of Record Economic Wins for Arizona
For Arizona’s economy, it was a year of record. Record projected new jobs announced. Record projected investment from businesses. Record venture funding received by startups. And one of the fastest recoveries in the nation. Celebrating A Transformative Decade In February, the ACA celebrated its 10th anniversary since legislation was signed creating the agency. Since its … [More]
Affordability Falls to Its Lowest Level Since 2008, Phoenix Declined the Most
First American Financial Corporation, a leading global provider of title insurance, settlement services and risk solutions for real estate transactions, today released the October 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]
Meyer Burger to Establish Solar Module Manufacturing Facility in Goodyear
Meyer Burger Technology AG announced today that the company is establishing a production site for high-performance solar modules in Goodyear. The investment is an important step in meeting Meyer Burger’s commitments to produce modules near end-customers, source material from regional suppliers, and improve overall sustainability by reducing transportation emissions and … [More]
U.S. Weekly Jobless Claims Remain Low, Nearly Unchanged
In the week ending December 18, the advance figure for seasonally adjusted initial claims was 205,000, unchanged from the previous week's revised level. The previous week's level was revised down by 1,000 from 206,000 to 205,000. The 4-week moving average was 206,250, an increase of 2,750 from the previous week's revised average. The previous week's average was revised down by … [More]
Getting a COVID-19 Booster More Important Than Ever with Omicron Spreading Quickly
The Arizona Department of Health Services (ADHS) is urging Arizonans to get their COVID-19 booster dose as soon as they can because of the rapid spread nationally of the Omicron variant and the potential for more breakthrough cases among vaccinated people. Those who have yet to be vaccinated also should act now to get the protection offered by safe, free, and highly effective … [More]
Single-Family Rent Price Growth Triples 2020 Rate in October, Says Report
CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its latest Single-Family Rent Index (SFRI), which analyzes single-family rent price changes nationally and across major metropolitan areas. October 2021 data shows a national rent increase of 10.9% year over year, up from a 3.2% year-over-year increase in October … [More]
Amazon Announces Plans to Create 550 New Jobs at Phoenix Tech Hub
Amazon announced plans to create more than 550 corporate and tech jobs in Tempe, Arizona, over the next few years, further expanding the company’s Phoenix Tech Hub. These new roles will support Amazon’s growing teams in Consumer Retail, Amazon Web Services, and Operations, and include positions such as software development engineers, senior solution architects, project … [More]
Update on Mandatory COVID-19 Vaccinations or Testing
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]












