Locally owned businesses are facing unique challenges, likely unlike any they’ve encountered before. Even as Arizona gets back to business, many owners are finding that they need to quickly adapt to stay afloat in light of the COVID-19 pandemic. To keep Arizona’s economy strong, it’s more … [Read more...] about Four Ways to Support Local Businesses Affected by COVID-19
Economy
Arizona Leads Nation In Personal Income Growth
Personal income in Arizona rose last year at a rate faster than nearly any state in the country, according to new estimates from the Bureau of Economic Analysis. With a personal income growth rate of 8.4%, Arizona tied with Montana for the fastest rate of growth in personal income in … [Read more...] about Arizona Leads Nation In Personal Income Growth
New Report: Arizona Ranks Third For Economic Momentum
Arizona is ranked third best in the nation for economic momentum, based on a new report by State Policy Reports. The report ranks states’ economic momentum based on growth in personal income, employment and population. Arizona ranked in the top four for employment growth and population growth. … [Read more...] about New Report: Arizona Ranks Third For Economic Momentum
Arizona Leads West In Income Growth
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 … [Read more...] about Arizona Leads West In Income Growth
Arizona Adds Nearly 80,000 Jobs In August, Unemployment Drops To 5.9%
Arizona’s economy posted strong gains in August, adding nearly 80,000 jobs over the month. The state’s unemployment rate dropped to 5.9%, down from 10.7% in July and lower than the U.S. overall rate of 8.4%. During August, the private sector in Arizona recorded a gain of 30,400 jobs, which is … [Read more...] about Arizona Adds Nearly 80,000 Jobs In August, Unemployment Drops To 5.9%
Arizona Headed For Faster Economic Recovery Than Rest Of Nation
Arizona is positioned for a faster economic recovery than the rest of the nation, and with some strategic moves on the part of state policymakers and citizens, it should jump back to a leading spot within next year or so, according to local economists. “We have the chance for this to be one of the … [Read more...] about Arizona Headed For Faster Economic Recovery Than Rest Of Nation
Revamping Economic Development Efforts
The City of Prescott anticipates bringing aboard a new economic development project manager after an interviewing and hiring process tied to its July 29 application deadline. The selected candidate will manage two work streams: attracting, expanding and retaining retail, commercial and industrial … [Read more...] about Revamping Economic Development Efforts
Population Growth, Health Industry, Infrastructure Improvements Fueling Arizona’s Economy
Arizona State University Professor Lee McPheters, Ph.D., says the state’s economy shows no sign of “gloom,” “doom” or “boom.” The forecast instead calls for basking in a little oomph from population influx, job creation, defense spending, health care hiring, international trade and infrastructure … [Read more...] about Population Growth, Health Industry, Infrastructure Improvements Fueling Arizona’s Economy
Growing STEM Careers in Today’s Economy
According to data from the U.S. Bureau of Labor Statistics (BLS), the economy is concentrated on STEM – science, technology, engineering and mathematics. STEM occupations growth are projected to grow faster than average for all occupations tracked by the BLS. In fact, the growth is more than 9 … [Read more...] about Growing STEM Careers in Today’s Economy
Quality of Life Good for Economy
The Prescott area’s allure for inward migration from other parts of Arizona and the nation has fueled the fastest growing labor market in the state for 2016, according Lee McPheters, research professor of economics at Arizona State University’s W. P. Carey School of Business. Generating overall … [Read more...] about Quality of Life Good for Economy
