economy Archives

Construction job losses hit two-year high

construction industry
by in AZRE Magazine | Construction

The construction industry lost 15,000 net jobs nationally in May, according to an analysis of Friday’s Bureau of Labor Statistics report by Associated Builders and Contractors (ABC). The report shows the loss is the industry’s worst since December 2013. April’s estimate had been revised downward from 1,000 net new jobs to a loss of 5,000… Read More →

Quarterly GDP growth slowest in 2 years

Small Businesses getting help in down economy
by in AZRE Magazine | Construction

Real gross domestic product (GDP) expanded only 0.5 percent (seasonally adjusted annual rate) during 2016’s first quarter, according to an analysis of Bureau of Economic Analysis data released Thursday by Associated Builders and Contractors (ABC). This disappointing figure follows a 1.4 percent annualized rate of economic output expansion during the fourth quarter of 2015. Nonresidential fixed… Read More →

March construction unemployment rates improve

by in AZRE Magazine | Construction

Construction unemployment rates improved in March with 298,000 new jobs added, according to Associated Builders and Contractors (ABC). Not seasonally adjusted (NSA) construction unemployment rates for the country and 30 states were 0.8 lower than in March 2015, marking five and a half years of consecutive monthly year-over-year rate declines. The state with the lowest construction unemployment rates in… Read More →

Arizona unemployment rate drops to 5.4%


Arizona’s seasonally adjusted unemployment rate dropped one-tenth of a percentage point from 5.5 percent in February to 5.4 percent in March, according to the Arizona Office of Employment and Population Statistics. The U.S. seasonally adjusted unemployment rate increased from 4.9 percent in February to 5.0 percent in March, according to the report released Thursday. A year… Read More →

Nonresidential spending regains momentum in 2016

Construction Employment
by in AZRE Magazine | Construction

Nonresidential construction spending crested the $700 billion mark on a seasonally adjusted annualized basis in January for the first time since March 2009, according to analysis of U.S. Census Bureau data released Tuesday by Associated Builders and Contractors (ABC). Nonresidential construction spending expanded 2.5 percent on a monthly basis and 12.3 percent on a yearly basis,… Read More →

GPEC’s Chris Camacho named to Policy Council


Greater Phoenix Economic Council (GPEC) President and CEO Chris Camacho, will join nearly a dozen national leaders on the newly formed Economic Innovation Group Policy Council. “It is an incredible honor to be named to the Economic Innovation Group Policy Council,” said Chris Camacho, president and CEO of the Greater Phoenix Economic Council. “The members… Read More →

Cactus League has $809M economic impact on Arizona


Spring training baseball has become a driving force in Arizona’s economy according to a pair of studies released today by Governor Doug Ducey and members of the non-profit Cactus League Baseball Association. The studies, conducted earlier this year, estimate spring training teams and the ballparks they play in now annually generate more than $809 million… Read More →

BMO: Arizona economy will accelerate in 2015

Deloitte Report Reveals Mid-Market Companies Expect U.S. Economic Growth, Nation’s Economy

Arizona’s economy should pick up in 2015, with expected GDP growth of 3.5 percent, just ahead of the national average and an improvement from the expected 2.5 percent in 2014, according to the bi-annual U.S. State Monitor Report from BMO Economics. Steady population growth and job growth in the high-tech market will also help lead… Read More →

Ariz. economy demands new sense of place

Coldwell Banker Commercial Advisors
by in AZRE Magazine | Featured

Block by block, the Phoenix Metro is seeing reinvestment, redevelopment and repositioning of land, existing buildings and infrastructure. It may not be high tide across the submarkets and sectors, but a rising tide somewhere can still lift a decent number of ships. The Great Recession has left its mark on the Metro, tasking developers and… Read More →

‘YOYO’ Economy Creates New Reality

Key Elements to Retirement Planning

With Social Security in its 79th year, and with real concerns about the future of the program, there is a different reality for retirement planning than when the agency started many years ago. Preparing for a secure retirement has changed drastically with today’s Baby Boomers living in what many call a YOYO (You’re On Your… Read More →

Experts: Slow, steady economic recovery for Arizona

Our economy continues to slowly improve, with the healthcare and biosciences industry having the most potential for local employment growth. That was just one of the positive signs that came out of last week’s Economic Outlook 2015, presented by the Greater Phoenix Chamber of Commerce (GPCC) and Cox Communications. Nearly 800 business leaders attended the… Read More →

Valley cities rank high for Hispanic business climate

hispanic, Cox

The United States is often dubbed “a nation of immigrants.” But lately the path to American citizenship has been a rough road, especially for an increasing number of Hispanics. Whether they’ve entered U.S. borders lawfully or otherwise, many have felt the sting of marginalization, racism and discrimination in every kind of social environment. And despite… Read More →

Tumbleweed Center Relocates Phoenix Headquarters

Tumbleweed Logo
by in In The Spotlight

Tumbleweed Center for Youth Development will expand and relocate its headquarters from Downtown Phoenix to Siete Square II, 3707 N. 7th St. in Midtown, according to Cushman & Wakefield of Arizona, Inc. Tumbleweed was established in 1972 with a mission to provide a safe space for collaborating with youth and young adults in the community… Read More →

Wells Fargo Plans 410,000 SF Expansion in Chandler

by in Business News | In The Spotlight

By Eric Jay Toll, Senior Correspondent for Arizona Builder’s Exchange | Special to Arizona Commercial Real Estate magazine   Wells Fargo unveiled its 410,000-square-foot Chandler campus expansion to a neighborhood meeting in the East Valley September 16. Arizona Builder’s Exchange broke the story Monday night that the bank filed a rezoning application with the city… Read More →