Arizona’s small businesses and hospitality sector have been especially hard hit by the pandemic, with thousands of jobs lost since March. To provide a boost to these critical sectors and the Arizonans they employ, Governor Ducey today announced $7 million to support economic recovery efforts. Over the course of the pandemic, the Arizona Department of Health Services has … [More]
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Governor Ducey Announces Resources to Support Small Businesses, Business Recruitment and Hospitality Industry
State of Arizona Office of the Governor
The U.S. Added 638,000 Jobs Last Month, the Unemployment Rate Fell Sharply to 6.9%
U.S. Bureau of Labor Statistics
Total nonfarm payroll employment rose by 638,000 in October, and the unemployment rate declined to 6.9 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 October, notable job … [More]
Small Businesses Looking to Hire in October, Having Trouble Finding Qualified Labor
NFIB
According to NFIB’s October Jobs Report, small businesses are looking to hire employees as they reported a historically high level of job openings in October. Overall, 55% of owners reported hiring or trying to hire in October, down 1 point from September. Thirty-three percent (seasonally adjusted) of all owners reported job openings they could not fill in the current period, … [More]
Weekly Jobless Rates Hold Steady at Record Numbers, Slowing of Economy Imminent
U.S. Department of Labor
In the week ending October 31, the advance figure for seasonally adjusted initial claims was 751,000, a decrease of 7,000 from the previous week's revised level. The previous week's level was revised up by 7,000 from 751,000 to 758,000. The 4-week moving average was 787,000, a decrease of 4,000 from the previous week's revised average. The previous week's average was revised up … [More]
Leaders in Science, Technology and Education Honored at the Arizona Technology Council’s 2020 Governor’s Celebration of Innovation
Rick McCartney
The Arizona Technology Council, in conjunction with the Arizona Commerce Authority, today announced the winners of the 2020 Governor’s Celebration of Innovation (GCOI) Awards. This marks the 17th year of this prestigious event honoring and attended by the top leaders in Arizona’s business, technology, education and government sectors. Due to COVID-19, the Council honored … [More]
Their Take: A Note of Gratitude to Arizona Small Businesses
by Michael Vallante
As the Regional Administrator for the Pacific Rim for SBA, and as Associate Administrator for the Office of Field Operations, I’ve had the honor to work closely with small business owners across the nation. A year ago, I wrote a note of gratitude to small business owners. Looking back at it a year later, nobody would have imagined the unprecedented challenge that our small … [More]
EN NEGOCIOS: ¡Democracia en acción! 4 puntos clave que los negocios deben tener en cuenta en el resultado de las elecciones de 2020
por Edgar R. Olivo
Mientras el mundo observa la democracia estadounidense en acción, los propietarios de pequeñas empresas en casa tienen mucho en juego en todos los niveles de gobierno. Una pandemia mundial ha creado una economía tambaleante con innumerables cierres de empresas y un desempleo récord. A medida que aumentan las tensiones raciales y se avecinan más cierres con una segunda o tercera … [More]
Democracy in Action! 4 Key Issues Small Business Owners Should Watch for in the 2020 Election Outcome
by Edgar R. Olivo
As the world watches the U.S. democracy in action, small-business owners at home have a lot at stake at all levels of government. A global pandemic has created a faltering economy with countless business closures and record unemployment. As racial tensions rise and more shut-downs loom with a second or third wave, it is important to understand how elections directly affect … [More]
Keep Calm and Count All the Votes
by Katie Hobbs, Arizona Secretary of State
With a record number of Arizonans casting early ballots in this year’s election, it means a record number of voters are also already anxiously awaiting the results. While counting all valid votes has always continued past election night, this year, voters should expect for accurate election results to take time. Not only are election officials across the country dealing … [More]
National Veterans Small Business Week to Kick-Off Today
U.S. Small Business Administration
The U.S. Small Business Administration will celebrate veteran, service member and military spouse small business owners nationwide during National Veterans Small Business Week, Nov. 2-6, 2020. “National Veterans Small Business Week is the perfect time to reflect on the accomplishments of our nation’s 2.5 million veteran-owned small businesses,” said SBA Administrator … [More]
Federal Reserve Board Adjusts Terms of Main Street Lending Program
Federal Reserve Board
The Federal Reserve Board on Friday, adjusted the terms of the Main Street Lending Program in two important ways to better target support to smaller businesses that employ millions of workers and are facing continued revenue shortfalls due to the pandemic. In particular, the minimum loan size for three Main Street facilities available to for-profit and non-profit borrowers has … [More]
Housing Market Shows Signs of Seasonal Cooling Even as Historic Demand Continues
Zillow
The housing market is showing signs of seasonal cooling after a scorching hot summer sales season that stretched uncharacteristically far into fall, according to Zillow's Weekly Market Report1. A nearly six-month acceleration of year-over-year list price increases stabilized this week at 11.7% above 2019. Buyers are quickly buying up what few homes are left on the market, with … [More]
Nearly 75% of Small Businesses Would Apply or Consider Applying for Second Round of PPP Funding
NFIB
The NFIB Research Center released its latest survey on the impact COVID-19 has had on small businesses, the 13th survey since early March. If eligible, about 75% of small businesses reported they would apply or consider applying for a second Paycheck Protection Program (PPP) loan. About half (52%) of owners anticipate needing additional financial support over the next 12 … [More]
Governor Ducey Announces More Than $1.6 Million to Expand Food Bank Assistance
State of Arizona Office of the Governor
More than $1.6 million to expand assistance to Arizona food banks was announced today to help them reach more families and seniors in need. The funding will enable food banks around the state to make more food home-deliveries to seniors and make more fresh produce and items available. Today’s announcement followed the Governor’s visit to St. Mary’s Food Bank, where he helped … [More]
Leslie’s Pools Goes Public, Trading on the Nasdaq
Leslie's, Inc.
Leslie's, Inc., the largest and most trusted direct-to-consumer brand in the U.S. pool and spa care industry, announced the pricing of its initial public offering of 40,000,000 shares of its common stock at an initial public offering price of $17.00 per share. The offering consists of 30,000,000 shares of common stock being sold by Leslie's and 10,000,000 shares of common … [More]
U.S. Jobless Claims Remain High Despite Recent Weekly Decreases
U.S. Department of Labor
In the week ending October 24, the advance figure for seasonally adjusted initial claims was 751,000, a decrease of 40,000 from the previous week's revised level. The previous week's level was revised up by 4,000 from 787,000 to 791,000. The 4-week moving average was 787,750, a decrease of 24,500 from the previous week's revised average. The previous week's average was revised … [More]
Third-Quarter GDP Record Increase on Heals of Worst in Second Quarter
U.S. Bureau of Labor Statistics
Real gross domestic product (GDP) increased at an annual rate of 33.1 percent in the third quarter of 2020 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP decreased 31.4 percent. The GDP estimate released today is based on source data that are incomplete or subject to further revision by the … [More]
SBA Achieves Historic Small Business Lending for Fiscal Year 2020
U.S. Small Business Administration
The U.S. Small Business Administration announced Fiscal Year 2020 summary loan data of the financial assistance provided through traditional loan program lending as well as aid provided via the CARES Act. Loans guaranteed through traditional SBA lending programs exceeded $28 billion; however, enactment of the CARES Act dramatically increased loan volume guaranteed by the … [More]
