The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.9 percent in June on a seasonally adjusted basis after rising 0.6 percent in May, the U.S. Bureau of Labor Statistics reported today. This was the largest 1-month change since June 2008 when the index rose 1.0 percent. Over the last 12 months, the all items index increased 5.4 percent before seasonal … [More]
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Consumer Price Index Climbs Higher Than Expected to 5.4%, Biggest Surge since 2008
U.S. Bureau of Labor Statistics
Staffing Shortage Causing Loss of Sales for Some Small Businesses, Says Survey
NFIB
The NFIB Research Center released its latest COVID-19 survey today on how the pandemic has affected small businesses. This is the 18th survey in the series and included in this edition is an update on SBA small business programs, sales levels, staffing shortage, and more. “Small businesses are making adjustments to their hiring practices to attract qualified … [More]
Launch of Program Raises Visibility and Opportunities for Black-Owned Businesses in Arizona
ARG Cultivators Community
ARG Cultivators Community, an Arizona nonprofit, launched the inaugural cohort of The S.E.E. M.E. (Social and Economic Equity for Minority Enterprises) Program. Twenty (20) Arizona-based businesses were selected to participate in the 18-month program. The nonprofit was awarded a grant in February 2021 by the Arizona Community Foundation/Black Philanthropy Initiative to design … [More]
It’s Getting Harder to Save for a Down Payment, But First-Time Buyers Have New Opportunities in the Great Reshuffling
Zillow
Starter home prices are growing almost seven times faster than renter incomes, making what was likely already the biggest challenge for first-time home buyers ― saving for a down payment ― even more difficult. But there is good news for today's first-time buyers: With mortgage rates near record lows, monthly payments can remain affordable even with a smaller down payment, and … [More]
U.S. Jobless Claims Unexpectedly Rise to 373K, Job Growth Slows
U.S. Department of Labor
In the week ending July 3, the advance figure for seasonally adjusted initial claims was 373,000, an increase of 2,000 from the previous week's revised level. The previous week's level was revised up by 7,000 from 364,000 to 371,000. The 4-week moving average was 394,500, a decrease of 250 from the previous week's revised average. This is the lowest level for this average since … [More]
U.S. Build-for-Rent Housing Joint Venture Opens Opportunity Nationwide
inbusinessPHX.com
SVN | SFR Capital Management (“SVN | SFR”), a private commercial real estate investment firm dedicated to the single-family Build-for-Rent (“BFR”) housing sector, and Walton Global Holdings USA (“Walton”), a global real estate investment and land asset management company with US$3.4 billion in assets under management, announced the formation of a joint venture that will … [More]
Valley Metro Plan & Track App Released, Real-Time Bus and Train Tracking
Valley Metro
PHOENIX---Ever wonder when your bus is arriving? Or, when the next train will pull into the station? Ponder no more. Valley Metro, in partnership with the city of Phoenix and Vix Technology, has launched the new Valley Metro: Plan & Track app that features real time bus and light rail tracking and trip planning. “More than 90 percent of our riders own a smartphone and … [More]
Torrid Demand and Scarce Inventory Fuels Double-Digit Home Price Growth in May, 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 May 2021. Converging pressures of severe inventory shortages and sustained demand pushed home prices to record highs in May, with the year-over-year increase in home prices at its highest level … [More]
Small Businesses Continue to Struggle Finding Workers
NFIB
According to NFIB’s monthly jobs report, 46% of small business owners reported job openings they could not fill in the current period, down two points from May but still above the 48-year historical average of 22%. Small business owners continue to struggle to find qualified workers for their open positions while raising compensation at a record high level. “In the … [More]
Governor Ducey Rescinds 25 Pandemic-Related Executive Orders
inbusinessPHX.com
Governor Doug Ducey today is rescinding 25 Executive Orders related to the COVID-19 pandemic following action by the Arizona Legislature to codify into law many of the policies enacted by the Executive Orders to protect against excessive mandates, including mask usage in schools and prohibiting vaccine passports. “Throughout the pandemic, we took action to protect Arizonans … [More]
U.S. Jobs Report Shows Big Bounce Back with 850K Payrolls Added in June
U.S. Bureau of Labor Statistics
Total nonfarm payroll employment rose by 850,000 in June, and the unemployment rate was little changed at 5.9 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in leisure and hospitality, public and private education, professional and business services, retail trade, and other services. This news release presents statistics from two … [More]
U.S. Jobless Claims Fell to 364K, New Pandemic Low
U.S. Department of Labor
In the week ending June 26, the advance figure for seasonally adjusted initial claims was 364,000, a decrease of 51,000 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 4,000 from 411,000 to 415,000. The 4-week moving average was 392,750, a decrease of 6,000 … [More]
First Lady, Second Gentleman Visit Highlights State’s Vaccination Outreach Efforts
Arizona Department of Health Services
The Arizona visit by First Lady Jill Biden and Second Gentleman Douglas Emhoff took them to a pop-up vaccination clinic the Arizona Department of Health Services (ADHS) is funding in partnership with the Equality Health and HeroZona foundations. This event at Isaac Middle School in west Phoenix is one of a number of such clinics offered in recent months through the One … [More]
SBA Announces Extension of $100M Grant ‘Community Navigator Pilot’ Program Proposals to July 23
U.S. Small Business Administration
The U.S. Small Business Administration announced the extended application date for its new Community Navigator Pilot Program. SBA will now accept proposal submissions through July 23, 2021, and anticipates making award decisions by September 2021. This new initiative, established by the American Rescue Plan Act of 2021, will leverage a community navigator approach to reach our … [More]
Valley of the Sun United Way Announces Nonprofit ‘Change Maker’ Partners
Valley of the Sun United Way
Valley of the Sun United Way announced it will fund 81 nonprofit organizations and schools with support totaling more than $7.8 million for programs and services that align with the strategies of MC2026, United Way’s new five-year plan for creating Mighty Change in Maricopa County. In addition, United Way will provide multi-year support to foundational programs that have … [More]
Under Pressure: How Corporate America Can Address Social Issues
inbusinessPHX.com
From racial equality to voting rights, US corporations are facing mounting pressure to take stands on a growing list of social issues. A new report by The Conference Board helps companies decide whether and how to address such topics. As the study details, the stakes have risen: Companies must decide whether to speak out on hot-button social issues at a time of intense … [More]
State COVID-19 Vaccination Sites Close after Administering 1.6 Million Doses
Arizona Department of Health Services
After administering 1.6 million doses of COVID-19 vaccine to 875,000 individuals, the state’s mass-vaccination program officially ends today with the last appointments at Gila River Arena in Glendale. With vaccine widely available, Arizona’s focus has shifted to promoting neighborhood options such as pharmacies and doctors’ offices, supporting pop-up clinics, and providing … [More]
Rapid House Price Appreciation Drives Affordability Lower, According to 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 April 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]
