Posts
We continue to shed jobs here in the valley of the sun. Job losses are spreading from the construction industry to the rest of the economy. However some areas show strength. The housing industry is primed for recovery as we slowly go through the excess inventory. Home construction should hit a bottom this year and begin to move up next year. The question is how bad does the recession get before housing turns fully?
Arizona Department of Commerce, Research Administration
Nonfarm Employment Down by 6,700
in May; Unemployment Rate at 4.4%
Arizona’s seasonally adjusted unemployment rate rose to 4.4 percent in May, a one-half of one percentage point increase from 3.9 percent in April. The national rate increased from 5 percent to 5.5 percent during the same time period. The civilian labor force in the state increased and employment fell, according to local area unemployment statistics. Arizona’s economy lost 6,700 nonfarm jobs in May for an over-themonth percentage change of -0.3 percent. Based on the 10-year average, a small gain was expected during May (+0.1%). http://www.workforce.az.gov/admin/uploadedPublications/2711_PrJune08.pdf
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment