Third Quarter 2024 Forecast Update By George W. Hammond, Ph.D., Director and Research Professor, EBRC September 2024 The Arizona economy was solid through the first half of 2024. Job growth was strong, contributing to a record...
Arizona's Economy is the online magazine of the Economic and Business Research Center, the premiere source for information on Arizona's economy since 1949.
THE OUTLOOK
Business Cycle Indicators
U.S. Coincident Economic Indicators | Temporary Help Services Jobs | AZ and U.S. Unemployment Claims |AZ Business Applications | TSA Passenger Throughput |
The following three visualizations show six key indicators of U.S. economic performance. They feature prominently in the NBER’s determination of recession begin and end dates, but are not the only data considered.
Note: Official initial claims data for Arizona are released every Thursday morning covering the week ending on the previous Saturday.
Note: The official Initial Claims for Unemployment Insurance numbers for the U.S. are released every Thursday morning covering the week ending on the previous Saturday.
The U.S. Census Bureau continues to produce weekly estimates; however, the weekly estimate files are published as part of the Monthly Business Formation Statistics (BFS) Release. One key dataset with these estimates is High-Propensity Business Applications, a subset of total weekly business applications in Arizona that measures the number of applications with a high-propensity of turning into a business with a payroll, based on various factors. These data reflect weekly applications for Employer Identification Numbers (EINs) in Arizona and include applications: (a) from a corporate entity, (b) that indicate they are hiring employees, purchasing a business or changing organizational type, (c) that provide a first wages-paid date (planned wages); or (d) that have a NAICS industry code in manufacturing (31-33), retail stores (44), health care (62), or restaurants/food service (72). Applications for EINs occur before the jobs and wages are added, so this is a leading indicator.
Read more about the Business Applications dataset. Source: U.S. Census Bureau.
Job Growth in Western States
Click on any series title in the table to view a pop-up chart of trend.
AZ Employment | Compare Western States | Compare Western Metros