Largest number of businesses in Arizona are in healthcare
Healthcare and social assistance was the sector in Arizona with the greatest number of employer establishments for 2021 based on the 2021 County Business Patterns data released on April 27.
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After Arizona healthcare businesses, the second-highest number in Arizona was for professional, scientific, and technical services, followed by retail sales. Retail sales was the top sector for employer establishments in the U.S., with professional, scientific, and technical services second and health care and social assistance third. The total number of employer establishments in Arizona for 2021 rose to 154,759, an increase of 3.3% over 2020. The number of employer establishments in the U.S. increased by 1.9% between 2020 and 2021. An upcoming article will expand upon the number and type of establishments in Arizona and its counties.
House prices in Phoenix and nationwide moderated in February. After seven consecutive months of declining prices, both markets gained on a month-over-month basis. Nationally, on a year-over-year basis, house prices were up 2.0%, while in Phoenix, they were down 2.1%. The April 25th S&P CoreLogic Case-Shiller release indicated seven other metropolitan areas with negative price changes on an annual basis, all of which were in the West: Denver, Las Vegas, Los Angeles, Portland, San Diego, and San Francisco. The metros with the largest annual increases include Miami, Tampa, and Atlanta at 10.8%, 7.7%, and 6.6%, respectively. The largest annual decline in housing prices occurred in San Francisco, at -10.0%.
The lowest unemployment rate in Arizona for March took place in Phoenix at 2.9% before seasonal adjustment, placing it below the national unemployment rate of 3.6%. The Bureau of Labor Statistics released March’s metropolitan employment report on May 3rd, noting that Decatur, AL; Huntsville, AL; and Rapid City, SD boasted the lowest rates, each at 1.6%. Conversely, the highest rates were observed in three California metropolitan areas: El Centro at 15.6%, Visalia-Porterville at 11.3%, and Merced at 11.2%. Among Arizona metropolitan areas, Flagstaff decreased by 20 basis points over the month to 3.5%, Prescott increased by 10 to 3.2%, and Sierra-Vista Douglas decreased by 10 to 4%. The remaining areas showed no change: Phoenix-Mesa-Scottsdale at 2.9%, Tucson at 3.2%, and Yuma with the highest rate at 9.1%. Arizona’s civilian labor force decreased by 9,800 individuals from February to March, with most of the decline concentrated between Phoenix-Mesa-Scottsdale and Tucson.
Authors: Contributing to this article were EBRC staff members Delaney O’Kray-Murphy, Valorie Rice, and Shaw Zeider along with EBRC student researcher Prarthana Magon.