economy

State Capitol News
9:26 am
Mon March 19, 2012

Consumer Confidence Seems to be Up in Arizona

The data from the state Department of Revenue shows retail sales in January of $3.7 billion. That's nearly 5.4 percent higher than the same time last year -- and more than 16 percent above two years ago. Economist Dennis Hoffman of Arizona State University called that a nice solid month of performance. But Hoffman said there is reason to believe that this year-over-year growth may not continue.

"The headwind right now is $4 gas," said Hoffman. "And that is really going to be the proof in the pudding here."

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State Capitol News
9:56 am
Thu March 15, 2012

Bankers Beat Back Efforts at Mortgage Relief in AZ

About half of all Arizona mortgages are under water, meaning owners owe more than the property is worth. This proposal was aimed at helping those who continue to make payments rather than simply walk away. It is a bit complex, involving the state using its power of eminent domain to acquire the property, paying the bank the current market value with money from investors who buy state bonds, and giving the lender a no-interest promissory note for the balance. That buys the homeowner some time for the market to recover.

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Fronteras
5:00 am
Mon March 5, 2012

As Economy Picks Up, Latinos May Be Gaining Jobs Faster Than Others

Employees at work inside the Tacos La Doña taco truck.
Jude Joffe-Block

LAS VEGAS — For the last year, gardener Juan Romulo was unemployed and stood outside of Las Vegas nurseries, waiting for any kind of day labor work that would come his way. Then, when a landscaping firm hired him in February, he joined the ranks of a growing number of Americans going back to work.

His new job is hard work, and the pay is barely above minimum wage, but for Romulo, it is a relief to have a steady paycheck again to feed his family.

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KNAU and Arizona News
3:37 pm
Thu January 19, 2012

Yearly Economic Growth Greater Than Expected

Despite gaining some 4,000 private sector jobs in December, Arizona's seasonally adjusted unemployment rate is holding at 8.7 %.

The Department of Administration says the month's lackluster performance comes from above-average losses in government jobs, primarily in public education.

Still, even with the slow growth, the Department's Rick van Sickle says the state is ahead of where forecasters thought they would be.

He says economists thought the state would see 0.7 % growth over the year.

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