CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report for July 2021. For the month of July, 4.2% 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 … [More]
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Small Business Optimism Slips in September as Labor Shortages, Inflation Impact Business Operations
NFIB
The NFIB Small Business Optimism Index decreased one point in September to 99.1. Three of the 10 Index components improved, five declined, and two were unchanged. “Small business owners are doing their best to meet the needs of customers, but are unable to hire workers or receive the needed supplies and inventories,” said NFIB Chief Economist Bill Dunkelberg. “The … [More]
Phoenix Suns Announce Partnership with Leading Blockchain Provider
inbusinessPHX.com
Phoenix Suns are proud to announce a new official team partnership with Socios.com, the leading global blockchain provider for the sports and entertainment industry. Socios.com is a direct-to-consumer (D2C) platform that leverages blockchain technology to provide the world’s leading sporting organizations with the tools to engage with and monetize their global … [More]
Payroll Employment Rises by 194,000 in September, Unemployment Rate Declines to 4.8%
U.S. Bureau of Labor Statistics
Total nonfarm payroll employment rose by 194,000 in September, and the unemployment rate fell by 0.4 percentage point to 4.8 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in leisure and hospitality, in professional and business services, in retail trade, and in transportation and warehousing. Employment in public education declined … [More]
Small Business Labor Shortage Worsens in September
NFIB
Fifty-one percent (seasonally adjusted) of small business owners reported job openings they could not fill in the current period, up one point from August and a record-high reading for the second consecutive month, according to NFIB’s monthly jobs report. The number of unfilled job openings continues to exceed the 48-year historical average of 22%. “More and more … [More]
U.S. Weekly Jobless Claims Fell for the First Time in Four Weeks
U.S. Department of Labor
In the week ending October 2, the advance figure for seasonally adjusted initial claims was 326,000, a decrease of 38,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 362,000 to 364,000. The 4-week moving average was 344,000, an increase of 3,500 from the previous week's revised average. The previous week's average was revised … [More]
Arizona Commerce Authority Announces Semifinalists for the 2021 Arizona Innovation Challenge
inbusinessPHX.com
The Arizona Commerce Authority announced 26 semifinalists have been selected for the 2021 Arizona Innovation Challenge (AIC). The AIC is designed to advance innovation and technology commercialization opportunities in Arizona by helping early-stage ventures scale. “Choosing this year’s 26 semifinalists from a competitive pool of more than 100 applicants for this round was … [More]
U.S. Annual Home Price Growth Reaches a New All-Time High in August, Says Report
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 August 2021. Home prices rose to a fever pitch this summer, with annual price gains reaching another all-time high in August at 18.1%. Ongoing affordability challenges within … [More]
GPEC Named the Top Economic Development Organization Globally
inbusinessPHX.com
The Greater Phoenix Economic Council (GPEC) was named the top economic development organization globally (population 500k+) by the International Economic Development Council (IEDC). GPEC President & CEO, Chris Camacho, and SVP of Marketing & Communications, Colleen Schwab, accepted the ‘Gold Rank’ EDO of the Year award during Tuesday’s Keynote Luncheon at IEDC’s 2021 … [More]
Partnership Expands Supply Chain in Arizona and Taiwan
Arizona Commerce Authority
The Arizona Commerce Authority and Taiwan’s Bureau of Foreign Trade, Ministry of Economic Affairs, today committed to partnering on trade and economic development. The partnership, which was outlined in a recently signed Memorandum of Understanding (MOU), aims to support efforts to establish or expand operations and supply chains in Arizona or Taiwan. The MOU was signed on … [More]
Celebrating National Disability Employment Awareness Month
inbusinessPHX.com
During October, the Office of Federal Contract Compliance Programs (OFCCP) joins the U.S. Department of Labor's Office of Disability Employment Policy in celebrating National Disability Employment Awareness Month (NDEAM). NDEAM celebrates America's workers with disabilities and is a time to remind employers of the importance of inclusive hiring practices, particularly as we … [More]
Arizona Commerce Authority Is Now Accepting FAST Grant Applications to Support Small Businesses
Arizona Commerce Authority
The Arizona Commerce Authority announced today it is accepting applications for the Federal and State Technology (FAST) grant to support small businesses. Applications are being accepted through December 31, 2021. The Small Business Administration’s FAST Partnership Program is designed to support programs that advance innovative, technology-driven small businesses. The … [More]
Basha’s Acquired: Meet Their New Owner
inbusinessPHX.com
Bashas’ Family of Stores announced today that it has signed a definitive agreement to be acquired by Raley’s Holding Company, an independent regional grocer based in California. The agreement brings together two leading grocers with rich legacies and shared values: employee achievement, exceptional customer service, and a deep commitment to local communities. Raley’s Holding … [More]
Arizona Economic Development Sets Records for Jobs, Investment in FY 2021
Arizona Commerce Authority
Fiscal Year (FY) 2021 was a record-breaking year for statewide economic development. During the 12-month fiscal period that ended June 30, 2021, the Arizona Commerce Authority (ACA) successfully worked with companies that committed to creating a projected 23,317 new Arizona jobs while investing $24.8 billion in local communities — the most ever for both metrics. The projected … [More]
U.S. Weekly Jobless Claims Unexpectedly Rise for Second Consecutive Week
U.S. Department of Labor
In the week ending September 25, the advance figure for seasonally adjusted initial claims was 362,000, an increase of 11,000 from the previous week's unrevised level of 351,000. The 4-week moving average was 340,000, an increase of 4,250 from the previous week's unrevised average of 335,750. The advance seasonally adjusted insured unemployment rate was 2.0 percent for the … [More]
Phoenix Market Update: Office Vacancy Keeps Improving
by Adriana Marinescu
After an encouraging July, Phoenix’s office vacancy rate kept bettering in August, according to CommercialEdge information. The average rate dropped to 17.2 percent, marking a 50-basis-point decrease month-over-month and a 30-basis-point drop when compared to August 2020. However, the value continued to remain higher than the national rate of 15.4 percent. As no … [More]
Lucid Motors Starts Production of Lucid Air at AMP-1 Factory in Casa Grande
Lucid Motors
Lucid Group today celebrated the start of production of its Lucid Air at its Advanced Manufacturing Plant (AMP-1) in Casa Grande with a factory commissioning ceremony attended by Lucid Group CEO and CTO Peter Rawlinson and Governor Doug Ducey. The company kicked off its Production Preview Week, a series of events during which Lucid welcomed guests to AMP-1 and Lucid Powertrain … [More]
Industry Leaders, States Launch National Roadmap to Maintain and Grow U.S. Semiconductor Leadership
Arizona Commerce Authority
Amidst heightened global demand and a steadily shrinking share of the world’s most advanced microchip factories, semiconductor industry leaders and stakeholders joined today to launch the National Semiconductor Economic Roadmap (NSER). The industry-led effort aims to boost U.S. semiconductor competitiveness through a focus on the workforce, supply chain and infrastructure to … [More]
