The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent in September on a seasonally adjusted basis after rising 0.4 percent in August, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 1.4 percent before seasonal adjustment. The index for used cars and trucks continued to rise sharply … [More]
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DES Partners with ID.me to Prevent Unemployment Fraud
Arizona Department of Economic Security
The Arizona Department of Economic Security (DES) announced a partnership with ID.me to allow unemployment claimants to securely verify their identities online. ID.me is a federally-certified identity verification provider specializing in digital identity protection, and is utilized by several states to address the high volume of unemployment fraud across the nation. In an … [More]
Merchant Transaction Volume Steady Despite Anticipated Seasonal Slowdown, Arizona Increased
Shift4 Payments
Shift4 Payments, the leader in integrated payment processing solutions, continues to see improvement in merchant transaction volume across America as businesses adapt to overcome the impacts associated with the coronavirus. In the latest update since the COVID-19 pandemic began to spread throughout the US in early 2020, Shift4’s analysis of transaction volume suggest that … [More]
SBA and Treasury Announce Simpler PPP Forgiveness for Loans of $50,000 or Less
U.S. Small Business Administration
The U.S. Small Business Administration, in consultation with the Treasury Department, today released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This action streamlines the PPP forgiveness process to provide financial and administrative relief to America’s smallest businesses while also ensuring sound stewardship of … [More]
Pricing Disconnect Weighs on Commercial Real Estate Investment Activity, Says Survey
CBRE Group
A new CBRE survey finds a wide disconnect on pricing expectations between buyers and sellers as a consequence of the COVID-19 pandemic that is weighing on commercial real estate investment activity. The CBRE survey found that 61% of buyers are looking for discounts from pre-pandemic prices and only 9% of sellers willing to offer such discounts. Among buyers looking for … [More]
Applications for Arizona Small Business Rent and Mortgage Relief Grants Reopen Oct. 8
Local First Arizona
In August, the Governor’s Office partnered with Local First Arizona Foundation to launch the Arizona Small Business Rent and Mortgage Relief Grant program and distribute $10 million in grants to small businesses who were required to shutter their doors during this pandemic. Starting Oct. 8, 2020, at 2 p.m., applications will reopen for gyms, fitness centers and studios, bars … [More]
Arizona Nonprofits Projecting Difficult Futures Without Additional Federal Support during Pandemic
Alliance of Arizona Nonprofits
The impact of the COVID-19 pandemic continues to create major challenges for Arizona nonprofits both financially and operationally according to the latest Alliance of Arizona Nonprofits Pulse Poll. The poll, conducted from Sept. 23 to Oct. 6, generated more than 200 responses from nonprofit organizations serving communities across Arizona. Among the outcomes: Without … [More]
CDC Report Shows How Wearing Masks and Closing Bars Dramatically Cut the Rate of COVID-19 Infections in Arizona
inbusinessPHX.com
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]
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]
