Arizona Construction Gained 2,400 Jobs in October
By Tasha Anderson for AZBEX Arizona’s seasonally adjusted unemployment rate increased to 8.0 percent in October 2020, from September 2020, according to the latest report published by the Arizona Office of Economic Opportunity. The national rate decreased to 6.9 percent from 7.9 percent in September. In October 2019, the state had a seasonally adjusted rate […]
Phoenix Retail Posts Positive Net Absorption in Q3
Source: Colliers International The Greater Phoenix retail market posted positive net absorption in third quarter, despite the continued impact of the COVID-19 pandemic. Vacancy rose slightly during the quarter to 7.7 percent as the city was recognized for comparatively low unemployment and small business closures. During third quarter, Greater Phoenix posted a 1.7 percent increase in unemployment, finishing September […]
AZ Const. Reports No Job Gains/Losses in Sept.
By Tasha Anderson for AZBEX Arizona’s seasonally adjusted unemployment rate increased to 6.7 percent in September 2020, from August 2020, according to the latest report published by the Arizona Office of Economic Opportunity. The national rate decreased to 7.9 percent from 8.4 percent in August. In September 2019, the state had a seasonally adjusted rate of 4.6 percent, and the national was at 3.5 percent. The state had a net gain of 30,200 non-farm jobs over the month. “Historically (2010-2019), Nonfarm employment has averaged a gain of 28,700 jobs in August,” the report states. Government had the largest net gain with 10,800 jobs, followed by Leisure […]
Ariz. Construction Gained 1,300 Jobs in August
By Tasha Anderson for AZBEX Arizona’s seasonally adjusted unemployment rate decreased to 5.9 percent in August 2020, from July 2020, according to the latest report published by the Arizona Office of Economic Opportunity. The national rate decreased to 8.4 percent from 10.2 percent in July. In August 2019, the state had a seasonally adjusted rate of 4.6 percent, and the national was at 3.7 percent. The state had a net gain of 79,200 non-farm jobs over the month. “Historically (2010-2019), Nonfarm employment has averaged a gain of 53,900 jobs in August,” the report states. Government had the largest net gain with 48,800 jobs, followed by Education […]
Ariz. Construction Lost 1,200 Jobs in July
By Tasha Anderson for AZBEX Arizona’s seasonally adjusted unemployment rate increased to 10.6 percent in July 2020, from June 2020, according to the latest report published by the Arizona Office of Economic Opportunity. The national rate decreased to 10.2 percent from 11.1 percent in June. In July 2019, the state had a seasonally adjusted rate of 4.7 percent, and the national was at 3.7 percent. The state had a net loss of 19,500 non-farm jobs over the month. “Historically (2010-2019), Nonfarm employment has averaged a loss of 19,200 jobs in July,” the report states. Leisure & Hospitality had the largest net loss with 16,200 jobs, […]
Ariz. Construction Lost 900 Jobs in June
By Tasha Anderson for AZBEX Arizona’s seasonally adjusted unemployment rate increased to 10 percent in June 2020, from May 2020, according to the latest report published by the Arizona Office of Economic Opportunity. The national rate decreased to 11.1 percent from 13.3 percent in May. In June 2019, the state had a seasonally adjusted rate of 4.8 percent, and the national was at 3.7 percent. The state had a net gain of 19,700 non-farm jobs over the month. “Historically (2010-2019), Nonfarm employment has averaged a loss of 51,600 jobs in June,” the report states. Leisure & Hospitality had the largest net gain with 34,000 jobs, […]
Ariz. Construction Gained 3,500 Jobs in May
By Tasha Anderson for AZBEX Arizona’s seasonally adjusted unemployment rate decreased to 8.9 percent in May 2020, from April 2020, according to the latest report published by the Arizona Office of Economic Opportunity. The national rate decreased to 13.3 percent from 14.7 percent in April. In May 2019, the state had a seasonally adjusted rate of 4.8 percent, and the national was at 3.6 percent. The state had a net gain of 45,200 non-farm jobs over the month. “Historically (2010-2019), Nonfarm employment has averaged a loss of 6,800 jobs in May,” the report states. Leisure & Hospitality had the largest net gain with 37,200 jobs, […]
Ariz. Construction Lost 4,200 Jobs in April
By Tasha Anderson for AZBEX Arizona’s seasonally adjusted unemployment rate increased to 12.6 percent in April 2020, from March 2020, according to the latest report published by the Arizona Office of Economic Opportunity. The national rate increased to 14.7 percent from 4.4 percent in March. In April 2019, the state had a seasonally adjusted rate of 4.8 percent, and the national was at 3.6 percent. The state had a net loss of 283,300 non-farm jobs over the month. “Historically (2010-2019), Nonfarm employment has averaged a gain of 8,700 jobs […]
Nonres. Construction Employment Sees Record Drop
Source: Associated Builders and Contractors The construction industry lost 975,000 jobs on net in April, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. This was the largest recorded decrease in construction jobs since the government began tracking employment in 1939, despite construction remaining an essential industry in much of the nation […]
Ariz. Economy May Expect Solid Recovery
By George W. Hammond for AZ Big Media There is still a huge amount of uncertainty about the future of the outbreak and the economic impacts on the Arizona economy associated with it. Regarding the outbreak, the question at this point is when government and self-imposed social distancing will ease. The April 2020 U.S. forecast from IHS Markit, […]