The NFIB Small Business Optimism Index decreased slightly in October by 0.9 points to 98.2. One of the 10 Index components improved, seven declined, and two were unchanged. “Small business owners are attempting to take advantage of current economic growth but remain pessimistic about business conditions in the near future,” said NFIB Chief Economist Bill … [More]
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Nearly 60% of Americans Unlikely to Travel for Thanksgiving or Christmas, Says Survey
American Hotel & Lodging Association
While rising vaccination rates against COVID-19 have increased travelers’ comfort levels, most Americans are still opting to stay home this holiday season, according to a new national survey commissioned by the American Hotel & Lodging Association (AHLA) conducted by Morning Consult. The survey found that 29% of Americans are likely to travel for Thanksgiving and 33% are … [More]
Payroll Employment Rises by 531,000 in October; Unemployment Rate Edges Down to 4.6%
U.S. Bureau of Labor Statistics
Total nonfarm payroll employment rose by 531,000 in October, and the unemployment rate edged down by 0.2 percentage point to 4.6 percent, the U.S. Bureau of Labor Statistics reported today. Job growth was widespread, with notable job gains in leisure and hospitality, in professional and business services, in manufacturing, and in transportation and warehousing. … [More]
Unfilled Job Openings Remain at Unprecedented Levels, Says Report
NFIB
Small business owners continued to struggle to find workers to fill open positions in October with 49% (seasonally adjusted) of all owners reporting job openings they could not fill in the current period, according to NFIB’s monthly jobs report. A net 44% (seasonally adjusted) of owners reported raising compensation, up two points from September and a 48-year record high … [More]
US Department of Labor Issues Emergency Temporary Standard to Protect Workers from Coronavirus
inbusinessPHX.com
The U.S. Department of Labor's Occupational Safety and Health Administration today announced a new emergency temporary standard to protect more than 84 million workers from the spread of the coronavirus on the job. The nation's unvaccinated workers face grave danger from workplace exposure to coronavirus, and immediate action is necessary to protect them. Under this … [More]
U.S. Weekly Jobless Claims Fall to Pandemic Low, Showing Signs of Lasting Recovery
U.S. Department of Labor
In the week ending October 30, the advance figure for seasonally adjusted initial claims was 269,000, a decrease of 14,000 from the previous week's revised level. This is the lowest level for initial claims since March 14, 2020 when it was 256,000. The previous week's level was revised up by 2,000 from 281,000 to 283,000. The 4-week moving average was 284,750, a decrease of … [More]
Providers across Arizona Set to Begin Vaccinating Ages 5-11 against COVID-19
Arizona Department of Health Services
Providers across Arizona are set to begin offering safe, free, and highly effective COVID-19 vaccines to children ages 5 to 11 following this week’s approval by the Centers for Disease Control and Prevention (CDC). "Parents already protect their kids against a host of diseases that have been eliminated or all but eliminated thanks to the modern miracle of vaccines,” said Don … [More]
Survey Shows Supply Chain Issues and Staffing Shortage Will Raise Prices, Costs
NFIB
The NFIB Research Center released its latest COVID-19 survey assessing how the COVID-19 pandemic has affected small businesses. This is the 20th survey in the series and includes updates on supply chain disruptions, the staffing shortage, and anticipations about the upcoming holiday season. The survey was conducted from October 25-27 with 613 responses … [More]
US Annual Home Price Growth Hits 18% in September as Supply and Demand Imbalances Intensify
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 September 2021. Demand for homebuying remained strong through the end of the summer. However, the ongoing housing supply shortage has continued to drive up prices, which increased 18% year over year … [More]
7 Ways the Infrastructure Bill Aims to Help Small Businesses
by Edgar R. Olivo
It may appear that the economy is back to business but, after experiencing the shock of COVID-19, many small businesses are still unable to recover. The recovery efforts have impacted the smallest businesses within many demographics of our communities, and access to more resources has become a priority in the Biden Administration and a major key in the Infrastructure Investment … [More]
EN NEGOCIOS: 7 formas en las que la ley de infraestructura ayudará a las pequeñas empresas
por Edgar R. Olivo
Puede parecer que la economía ha vuelto a funcionar, pero después de experimentar el impacto de COVID-19, muchas pequeñas empresas aún no pueden recuperarse. Los esfuerzos de recuperación han impactado a las empresas más pequeñas dentro de muchos datos demográficos de nuestras comunidades y el acceso a más recursos se ha convertido en una prioridad en la Administración de Biden … [More]
One-Time Program Aims to Keep Low-Income Homeowners in Their Homes
inbusinessPHX.com
Governor Doug Ducey and the Arizona Department of Housing announced $197 million to launch the Homeowner Assistance Fund, helping Arizona homeowners struggling financially to pay their mortgage and other home-related expenses. “We want to make sure families stay in their homes and continue to have a roof over their heads,” said Governor Ducey. “As Arizona emerges out of the … [More]
SBA Announces $44.8 Billion through Signature Lending Programs
U.S. Small Business Administration
U.S. Small Business Administration Administrator Isabella Casillas Guzman announced the agency reached $44.8 billion in funding to small businesses through more than 61,000 traditional loans for fiscal year (FY) 2021. “In the midst of a once-in-a-generation pandemic, the SBA’s mission-driven team delivered a record number of SBA’s traditional loans to our nation’s small … [More]
Q3 Arizona Business Index Released, Consumer Confidence Drops
Greater Phoenix Chamber
The Greater Phoenix Chamber recently released the Q3 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. “We are pleased to see job satisfaction improving as Arizona continues to rebound from the pandemic,” said Todd Sanders, president and … [More]
Economic Growth Rate Slows to 2%, Sharp Decline in Consumer Spending
Bureau of Economic Analysis
Real gross domestic product (GDP) increased at an annual rate of 2.0 percent in the third quarter of 2021 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 6.7 percent. The GDP estimate released today is based on source data that are incomplete or subject to further revision by the source … [More]
U.S. Weekly Jobless Claims Fall to New Pandemic Low of 281,000
U.S. Department of Labor
In the week ending October 23, the advance figure for seasonally adjusted initial claims was 281,000, a decrease of 10,000 from the previous week's revised level. This is the lowest level for initial claims since March 14, 2020 when it was 256,000. The previous week's level was revised up by 1,000 from 290,000 to 291,000. The 4-week moving average was 299,250, a decrease of … [More]
Harvard Investments, Toll Brothers, and Värde Partners Acquire Estrella under Joint-Venture Partnership
inbusinessPHX.com
Harvard Investments, Toll Brothers, and Värde Partners announced today they formed a joint venture to acquire the remaining undeveloped land in Estrella, a mixed-use master-planned community located in Goodyear, Ariz. The acquisition includes more than 18,000 acres of entitled land. This purchase is one of the largest acquisitions of an active master-planned community in … [More]
Rising Rates Expected to Dull House-Buying Power, According to House Price Index
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 August 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]
