Wear a mask and close the bars. That's the verdict from a new report by the Centers for Disease Control and Prevention, out Tuesday, which highlights how these two actions — taken together — are critical to fighting COVID-19, the disease caused by the novel coronavirus. The report details how both bar closures and mask mandates were likely major factors that helped … [More]
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CDC Report Shows How Wearing Masks and Closing Bars Dramatically Cut the Rate of COVID-19 Infections in Arizona
inbusinessPHX.com
Green Light for Arizona’s First New Community Bank in 12 Years
Scottsdale Community Bank
Scottsdale Community Bank (in organization) has received conditional approval from the Federal Deposit Insurance Corporation (FDIC) to establish Arizona’s first new community bank in 12 years. “This is a very exciting achievement for our outstanding organization and is a strong signal for positive economic development in the City of Scottsdale and the State of Arizona, … [More]
One In Five Small Businesses Anticipate Having to Lay Off Employees in Next Six Months
NFIB
NFIB’s Research Center released the latest survey relating to COVID-19 and its impact on the small business economy. The majority of Paycheck Protection Program (PPP) borrowers have used all of their loans and are preparing to apply for forgiveness. “It has been over six months from the onset of the health crisis and economic shutdowns and small businesses are … [More]
EN NEGOCIOS: ¿Se siente perdido durante COVID-19? 7 preguntas para descubrir su propósito y encontrar dirección
por Edgar R. Olivo
En algunos entornos empresariales, discutir bienestar mental y cómo COVID-19 nos ha hecho sentir todo tipo de cosas como la incertidumbre, la frustración, el miedo y el estrés está comenzando a ser menos tabú. Sin embargo, incluso en tiempos turbulentos, se espera que los profesionales sepan exactamente cuál es su propósito en todo momento para sentirse importantes o … [More]
Feeling Lost during COVID-19? 7 Questions to Uncover Your Purpose & Gain Direction
by Edgar R. Olivo
In some business environments, discussing mental wellness and how COVID-19 has made us all feel all kinds of things such as uncertainty, frustration, fear and stress is starting to be less taboo. Yet, even in turbulent times, professionals are expected to know exactly what their purpose is at all times to feel important or risk losing face. This causes an unnecessary burden of … [More]
Arizona Leads the West in Income Growth
inbusinessPHX.com
Arizona’s median household income rose by 15.2% over the latest three-year recording period, according to new data from the U.S. Census Bureau. That was the highest growth among western and mountain states, and higher than Texas and Florida. The Census data, which compares income growth averaged between 2014-2016 and 2017-2019, indicates that the median household income in … [More]
September Strong Job Growth Chiefly Making Up for Declines
U.S. Bureau of Labor Statistics
Total nonfarm payroll employment rose by 661,000 in September, and the unemployment rate declined to 7.9 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. In September, notable … [More]
Major Venue Management Co. Agreement to Bring Global Exposure to Westgate Entertainment District
inbusinessPHX.com
ASM Global, the world’s leading venue management and services company, announced today that it has entered into a Billboard Lease and Sponsorship Sales Agreement with YAM Westgate, LLC with respect to Westgate Entertainment District which is located adjacent to the Gila River Arena and State Farm Stadium; both of which are also managed by ASM Global. Located in the heart of … [More]
All AZ Counties Now Meet Benchmarks for Safe Reopening of Certain Businesses
Arizona Department of Health Services
Reflecting the continuing decline of COVID-19’s community spread across Arizona, all counties now meet benchmarks for safely reopening businesses such as indoor gyms and fitness centers, bars serving food, and movie theaters. In Thursday’s update of the Arizona Department of Health Services Business Dashboard, Graham County advanced to the moderate transmission stage, … [More]
Small Business Economy Continues to Rebound in September
NFIB
The small business labor market continues to make improvements in September despite continued state and federal employment regulations related to COVID-19. According to NFIB’s monthly jobs report, 10% of owners reported increasing employment an average of 3.2 workers per firm and 16% reported reducing employment an average of 2.0 workers per firm (seasonally … [More]
Weekly Jobless Claims Slightly Lower Even as Layoffs Continue
U.S. Department of Labor
In the week ending September 26, the advance figure for seasonally adjusted initial claims was 837,000, a decrease of 36,000 from the previous week's revised level. The previous week's level was revised up by 3,000 from 870,000 to 873,000. The 4-week moving average was 867,250, a decrease of 11,750 from the previous week's revised average. The previous week's average was … [More]
Many Arizona Cities among the Quickest to Recover from Unemployment
WalletHub
The employment market continued to recover in August, as the latest jobs report shows that the national unemployment rate has fallen to 8.4%, which is 43% below the peak of 14.7% during the height of the COVID-19 pandemic. To provide more context at the city level, WalletHub today released its report on the Cities Whose August Unemployment Rates Are Bouncing Back Most, as a … [More]
Ally Increases Carvana Loan Purchase Commitment by $1 Billion, Expanding Inventory and Selection of Vehicles
Carvana
Carvana, a leading e-commerce platform for buying and selling used cars, announced a $1.0 billion increase to its current loan sale program with Ally Financial Inc., demonstrating the success of the previous increase and extension of the facility completed earlier this year. This increase represents a total of $3.0 billion in commitment to fund Carvana customer loans since … [More]
Q2 GDP Decreased at Annual Rate of 31.4%, Corporate Profits Decreased $208.9B
U.S. Bureau of Labor Statistics
Real gross domestic product (GDP) decreased at an annual rate of 31.4 percent in the second quarter of 2020 (table 1), according to the "third" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP decreased 5.0 percent. The “third” estimate of GDP released today is based on more complete source data than were available for the "second" … [More]
EN NEGOCIOS: Salir de su cabeza. Cómo los empresarios pueden superar el miedo durante el COVID-19
por Edgar R. Olivo
El miedo juega un papel importante en nuestra psicología; nos ayuda a evitar el peligro y mantenernos a salvo. Sin embargo, también es una de las principales razones que pueden impedirnos avanzar. Agregue al fuego las incertidumbres de una pandemia y el miedo puede agravarse con más ansiedad. ¿Cómo detiene el miedo al propietario de una pequeña empresa? Puede evitar que … [More]
Get Out of Your Head. How Small Business Owners Can Overcome Fear during COVID-19
by Edgar R. Olivo
Fear plays a major role in our psychology; it helps us avoid danger and keeps us safe. However, it is also one of the major factors that can hold us back from moving forward. Add to the fire the uncertainties of a pandemic and fear can become compounded with more anxiety. How does fear hold a small business owner back? It can stop you from making an important change and … [More]
Arizona to Receive More Than 2 Million Rapid COVID-19 Tests
inbusinessPHX.com
Governor Doug Ducey announced that Arizona will receive 2.19 million Abbott rapid point-of-care tests from the federal government. The tests can produce results within 15 minutes. Delivery is expected to take place with shipments beginning in the next seven to 10 days. The Arizona Department of Health Services is working with county health departments to prioritize the tests … [More]
Office Furniture Co. Expands Corporate Footprint to Phoenix
Vari
Vari, a workspace innovation company that took sit-stand desks mainstream, is doubling down on its commitment to the Phoenix market. The company has opened a sales office and Vari showroom located east of downtown Phoenix. Industry executive Lisa Teman-Rosenburg will helm the company’s strategy in the greater Phoenix area as regional sales director. Tours of the flexible … [More]
