Third Quarter 2024 Forecast Update
By George W. Hammond, Ph.D., Director and Research Professor, EBRC
September 2024
The Arizona economy solid through the first half of 2024. Job growth was strong, contributing to a record-low unemployment rate and a surge in the ratio of open jobs to unemployed residents. Income growth remained solid, with over-the-year growth outpacing decelerating inflation. Even so, housing affordability remained….
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The forecast numbers below are from our third quarter 2024 baseline scenario forecast and were produced in September 2024 by the EBRC.
Arizona Economic Forecast Data (Statewide)
Phoenix-Mesa-Scottsdale MSA Forecast (Maricopa + Pinal Counties)
Tucson MSA Forecast (Pima County)
*The Economic and Business Research Center produces new economic forecasts each quarter (February, May, August, November) for Arizona (statewide), the Phoenix-Mesa-Chandler MSA, and the Tucson MSA. The EBRC makes the forecasts for the five major measures in the above table public each quarter. However, EBRC forecasts many more important economic variables using unique structural econometric models. If your business or organization requires more in-depth forecast data, analysis, and consulting, find out about the benefits of joining EBRC’s Forecasting Project.
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