Category Archives: Phoenix

Phoenix Targets Expansion

The Phoenix area’s labor market has yet to see the meteoric gains in employment that it experienced prior to the Great Recession. Total Nonfarm employment is still about a year away from the pre-bust high given current growth. High-paying jobs, … Continue reading

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Phoenix Economy Shows Gradual, Sustainable Improvement

The Phoenix metro area ended 2014 with a 2.7 percent increase in total nonfarm employment. Growth occurred in most employment sectors, with particularly pronounced December-over-December changes in professional and business services and education and health services. These two industries alone … Continue reading

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The Phoenix Economy Awaits Housing Rebound

Phoenix employment growth is on the right track, gaining ground in the services industries over the past few years. However, area employment has still not recovered to pre-recession levels. The primary culprit has been construction employment. The decline in construction … Continue reading

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Phoenix Economy Shows Signs of Moderate Growth in 2014

Phoenix year-over-year employment growth is slowing down. Area employment grew 2.8 percent in 2013, but is expected to increase by only 1.8 percent this year. The outlook for Phoenix area employment remains positive heading into 2015 as the effects of … Continue reading

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Phoenix Ongoing Economic Development

Whether it’s the $136 million University of Arizona medical research building in downtown Phoenix or the 10-story office building in Tempe, economic development continues to be an integral part of the long-term strategy for the Phoenix Metropolitan Statistical Area (MSA). … Continue reading

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Phoenix Economy Ends 2013 with a Positive Outlook

After facing a number of headwinds in 2013, Phoenix’s moderate economic expansion will continue into 2014. Increased uncertainty and federal budget sequestration were a drag on local defense-related businesses throughout 2013. Honeywell International, whose aerospace division is headquartered in Phoenix, … Continue reading

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Positive Outlook for Phoenix in 2014

The Phoenix economy has turned the corner after suffering a devastating collapse in real estate values.  Metro area economic growth is outpacing the national average and is expected to remain strong in 2014. Phoenix year-over-year payroll employment growth has consistently … Continue reading

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Phoenix Continues Recovery

Phoenix employment is maintaining its positive trend while unemployment remains unchanged through 2013Q2. Payroll employment grew 2.4 percent year over year in Q2. Household employment grew 1.0 percent year over year in Q2, while the labor force only grew 0.2 … Continue reading

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Phoenix Recovery Advances, but Downside Risks Lurk

Following a flat unemployment rate through Q2 and Q3 of last year, Phoenix unemployment dipped to 6.8 percent on average for Q4 2012. Payroll job growth in Phoenix outperformed the national average in 2012, up 2.5 percent, compared to 1.7 … Continue reading

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Phoenix Recovery Advances, but Downside Risks Lurk

Improvement in Phoenix’s unemployment rate stalled in the third quarter, at a flat 7.2 percent. Although stationary, Phoenix unemployment is 0.9 percent below the national rate for Q3. Payroll job growth in Phoenix continues to outpace that of the nation, … Continue reading

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