Today, U.S. Small Business Administration (SBA) Administrator Isabella Casillas Guzman announced major enhancements to the COVID Economic Injury Disaster Loan (EIDL) program, a federal disaster relief loan designed to better serve and support our small business communities still reeling from the pandemic, especially hard-hit sectors such as restaurants, gyms, and hotels. The … [More]
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SBA Enhances COVID EIDL Program to Aid Small Businesses Facing Challenges from Delta Variant
U.S. Small Business Administration
U.S. Jobless Claims Hit All-Time Pandemic Low, Employers Retain Workers
U.S. Department of Labor
In the week ending September 4, the advance figure for seasonally adjusted initial claims was 310,000, a decrease of 35,000 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 5,000 from 340,000 to 345,000. The 4-week moving average was 339,500, a decrease of … [More]
The City of Phoenix Paying Customer’s Outstanding City Services Bills
City of Phoenix
The Phoenix City Council has earmarked $5 million to help customers impacted financially by the pandemic pay utility bills. Customers can apply for the city's Deferred Payment Arrangement (DPA) Recovery Program to pay a portion of customer's outstanding city services bill. Using funding from the Federal American Rescue Plan Act (ARPA), the city will pay two-thirds of the … [More]
U.S. Home Price Index Annual Growth Reaches All-Time High in July, 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 July 2021. With mortgage rates remaining near record lows, the ongoing challenges of persistent demand and constricted supply continue to put upward pressure on home prices. A recent CoreLogic survey of … [More]
Payroll Employment Rises by 235,000 in August, Unemployment Rate Declines to 5.2%
U.S. Bureau of Labor Statistics
Total nonfarm payroll employment rose by 235,000 in August, and the unemployment rate declined by 0.2 percentage point to 5.2 percent, the U.S. Bureau of Labor Statistics reported today. So far this year, monthly job growth has averaged 586,000. In August, notable job gains occurred in professional and business services, transportation and warehousing, private … [More]
U.S. Jobless Claims Hit Pandemic Low, Employment Strengthening
U.S. Department of Labor
In the week ending August 28, the advance figure for seasonally adjusted initial claims was 340,000, 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 1,000 from 353,000 to 354,000. The 4-week moving average was 355,000, a decrease of … [More]
Staggering 50% of Small Business Owners Report Job Openings They Can’t Fill, Says Report
NFIB
Fifty percent of all small business owners reported job openings they could not fill in the current period, a record high reading according to NFIB’s monthly jobs report. The number of unfilled job openings has remained far above the 48-year historical average of 22%. “Small employers are struggling to fill open positions and find qualified workers resulting in … [More]
VIRTUAL EVENT – Sep 13 to 15: National Small Business Week Virtual Summit Event Schedule for September 13-15
U.S. Small Business Administration
The U.S. Small Business Administration’s National Small Business Week Virtual Summit event schedule is set. This annual event, happening September 13-15, 2021, honors the nation’s 31 million small businesses for their perseverance, ingenuity, triumphs, and creativity. SBA Administrator Isabella Casillas Guzman announced National Small Business Week in a news … [More]
Phoenix City Council to Appoint Jeff Barton as New City Manager
City of Phoenix
The Phoenix City Council has announced intentions to appoint Jeff Barton as the new city manager. The Council will vote on the appointment during its formal meeting Wednesday, September 8. Barton will lead the country’s largest council-manager form of local government upon the planned retirement of City Manager Ed Zuercher, overseeing day-to-day operations including … [More]
67% of Business Travelers to Reduce Trips amid Rising COVID-19 Cases
American Hotel & Lodging Association
U.S. business travelers are scaling back travel plans amid rising COVID-19 cases, with 67% planning to take fewer trips, 52% likely to cancel existing travel plans without rescheduling, and 60% planning to postpone existing travel plans, according to a new national survey conducted by Morning Consult on behalf of the American Hotel & Lodging Association (AHLA). Despite … [More]
Navajo Nation and the ACA Sign Deal to Expand Film and Media Industry in Arizona
Arizona Commerce Authority
Navajo Nation and the Arizona Commerce Authority announced today a new partnership to promote Navajo Nation as a major international film and media destination. The partnership, which was outlined in a recently signed Memorandum of Understanding (MOU), aims to build a foundation of generational opportunities in the film and media industry. The MOU signed July 23, 2021, by … [More]
Investor Homebuying Report Shows Slowing Purchase Activity amid Shifting Market Dynamics — A Decade in Review
CoreLogic
CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, shared its Investor Homebuying report highlighting home U.S. purchase trends between 2011 and 2020. In the report, CoreLogic investigates activity nationally by both price tier and investor size and looks at which regions have had the most and least activity. A … [More]
SBA Opens Supplemental Grant Applications for Shuttered Venue Operators Grant Awardees
U.S. Small Business Administration
The U.S. Small Business Administration announced it will begin sending invitations for supplemental awards for the Shuttered Venue Operators Grant program. Per the Economic Aid to Hard-Hit Small Businesses, Non-profits and Venues Act, SVOG supplemental awards are to be provided to those who received an initial grant and have illustrated a 70% loss when comparing 2021’s … [More]
Ducey Names Don Herrington as Interim ADHS Director, Taps Richard Carmona as Senior Public Health Advisor
State of Arizona Office of the Governor
Governor Doug Ducey today named Don Herrington, a 21-year veteran of the Arizona Department of Health Services, to succeed Dr. Cara Christ and oversee the frontline health care workers who have spearheaded the state’s response to the COVID-19 pandemic. The Governor and Herrington together named Dr. Richard Carmona, the 17th Surgeon General of the United States, to serve as … [More]
U.S. Weekly Jobless Claims Rise but Stay Near Last Week’s Pandemic Low
U.S. Department of Labor
In the week ending August 21, the advance figure for seasonally adjusted initial claims was 353,000, an increase of 4,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 348,000 to 349,000. The 4-week moving average was 366,500, a decrease of 11,500 from the previous week's revised average. This is the lowest level for this average … [More]
Quarterly Trends Update on the Construction, Manufacturing, Retail, and Services Industries
NFIB
The NFIB Research Center released a quarterly Small Business Economic Trends industry report highlighting the construction, manufacturing, retail, and services industries. NFIB’s July Small Business Economic Trends report showed the overall Optimism Index at 99.7. “Small businesses are working hard to recover from the pandemic while still facing strong headwinds,” … [More]
Phoenix Digital Divide Solution Elevates Education and Workforce Opportunity
inbusinessPHX.com
Deployed as a digital divide solution, the Phoenix Digital Education Connection Canopy is a replicable network connecting students to schoolwork and virtual classrooms in Phoenix, Arizona. “It’s the silver lining from the pandemic cloud,” said Laura Pastor, Phoenix city councilwoman, whose district includes many of the city’s digitally underserved neighborhoods. “Children … [More]
Phoenix CRE Market Update: Slight Improvement in Office Vacancy
by Adriana Marinescu
Phoenix’s office vacancy slightly improved in July, according to CommercialEdge data. The average rate dropped to 17.7 percent, a 30-basis-point decrease when compared to June and a 70-basis-point drop year-over-year. However, the value continued to remain higher than the national rate of 15.5 percent. The metro’s decrease in vacancy is significant especially since no … [More]
