KNAU and Arizona News
5:07 pm
Thu May 16, 2013

ASU Economists report on the state's economic outlook

Business experts from the W.P. Carey School of Business at Arizona State University say the state’s economy is rebounding… But they say federal budget cuts are creating a drag on growth. Arizona Public Radio’s Terry Ward reports…

Some of Arizona's top business experts say the state is gaining jobs and home prices are rebounding… but they say the state has a long way to go to get back to pre-recession levels. Economists from ASU’s business school say Arizona has gained back nearly 40 percent of the 314,000 jobs that were lost during the recession, but that pace is well behind the nation as a whole. Economics professor Dennis Hoffman says decisions that have yet to be made on possible Medicaid expansion, the loss of the sales tax that was approved by voters in 2010 and then rescinded by voters last year… and potential taxing of online sales could affect Arizona's economy going forward.

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