The latest annual Rich States, Poor States report released today had some sobering news for Arizona, which came in 13th place in the report’s economic outlook ranking. “While we slipped three places in the ranking, are no longer in the top ten, and are approaching what could be a crisis of competitiveness, hope still remains that we can correct course,” said Chad Heinrich, … [More]

When the news gets out that Greater Phoenix is one of the top places in the nation to find a new job opportunity, people start heading to Arizona. Late in 2018 and early in 2019, that news started getting out in ranking after ranking. Job opportunities await and a new population follows. The jobs available today are filling roles in the expanding knowledge economy, and … [More]

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.8 percent in April on a seasonally adjusted basis after rising 0.6 percent in March, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 4.2 percent before seasonal adjustment. This is the largest 12-month increase since a 4.9-percent increase for the … [More]

A new NFIB’s jobs report for April shows a record 44% of all small business owners report having job openings they could not fill, 22 points higher than the 48-year historical average, and two points higher than the 42% figure from March. April is the third consecutive month with a record-high reading of unfilled job openings among small businesses. “The tight … [More]

Total nonfarm payroll employment rose by 266,000 in April, and the unemployment rate was little changed at 6.1 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains in leisure and hospitality, other services, and local government education were partially offset by employment declines in temporary help services and in couriers and messengers. … [More]

Following the explosive growth of the industrial sector in 2020, developers continue to move forward, with nearly 370 million square feet of projects underway at the end of April, according to CommercialEdge data. The rapid expansion of e-commerce companies persists in driving demand for modern facilities, as does recovering port traffic volumes. As demand pushes … [More]

The Arizona Office of Economic Opportunity is projecting the state will add more than half a million jobs over the next eight years, continuing a surge in economic growth. “Arizona has become a jobs magnet,” said Governor Doug Ducey. “Not only are jobs booming, wages are rising faster at one of the fastest rates in the country. Our recovery is moving forward and there is … [More]

in the week ending May 1, the advance figure for seasonally adjusted initial claims was 498,000, a decrease of 92,000 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 37,000 from 553,000 to 590,000. The 4-week moving average was 560,000, a decrease of 61,000 … [More]

P​hoenix topped the nation with a 5.67 percent hourly wage hike, based on one-month annualized wage growth data, in small businesses compared to a year ago, according to the monthly Small Business Employment Watch from Paychex IHS Markit. The average metro area small business is currently paying wages of $28.26 per hour. The U.S. average is $29.09, increasing only 2.84 … [More]

CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for March 2021. As consumer confidence rebounds and the job market picks back up, the 2021 spring homebuying season is on track to outpace trends seen in 2019 and 2018. Millennials lead the homebuying charge … [More]