The Current State Of Arizona's Economy
It was a good, not great year for Arizona’s economy. And the state continues to show positive signs of slow, but steady growth.
The state’s seasonally adjusted unemployment rate dropped to 4.3 percent last month — it was at 5 percent a year ago.
The state's construction business may finally be showing some real signs of life. Total employment in that industry is spiking, more than 6 percent higher than a year ago — the biggest year-over-year jump of any sector of the state economy.
And as housing prices increase and permits for new single-family construction homes rise, there are signs that construction employment will continue to improve.
Lee McPheters, research professor of economics in the W. P. Carey School of Business at Arizona State University and director of the school's Economic Outlook Center, talked more current state of Arizona’s economy.