AZ Unemployment Rate Drops (Phoenix, Mesa: real estate, construction, live)

[Ponderosa]

This is the second monthly drop in a row. It's not over, but for now - so much for the doomers who were predicting 12%.

Unemployment rate in Arizona drops to 8.9 percent in November, 9 of 11 sectors gain jobs | StarTribune.com (http://www.startribune.com/business/79546072.html?elr=KArksCiU1OiPiiUiD3aPc:_Yyc:a UU - broken link)

[fcorrales80]

Originally Posted by Ponderosa

This is the second monthly drop in a row. It's not over, but for now - so much for the doomers who were predicting 12%.

Unemployment rate in Arizona drops to 8.9 percent in November, 9 of 11 sectors gain jobs | StarTribune.com (http://www.startribune.com/business/79546072.html?elr=KArksCiU1OiPiiUiD3aPc:_Yyc:a UU - broken link)

Hmmm, did I not post an article about sectors and employers that expected to hire, and more so the beginning of next year's 1st quarter...

Thanks for the link Ponderosa:

Nine of the state's 11 economic sectors experienced job gains last month. The biggest gains came in trade and transportation, professional and business services, and the hospitality business.

[azjack]

Cool. Problem solved.


Of course, the shrinking labor force probably should not be ignored.

[fcorrales80]

Originally Posted by azjack

Cool. Problem solved.


Of course, the shrinking labor force probably should not be ignored.

Problem not solved, problem stabilizing, but there still remains a problem. Latest figures show the population is still growing but at a much slower rate than a few years ago.

[azjack]

"Latest figures show the population is still growing but at a much slower rate than a few years ago."

The civilian labor force in the Phoenix-Mesa-Scottsdale MSA has shrunk by about 27,000 people in the last year according to AZ Commerce. Full reports are on their website.

"problem stabilizing"

Stabilization contingent on $2 trillion annual deficits and mass liquidity injections from the Fed, neither of which can last forever.

[miamiman]

Originally Posted by fcorrales80

Problem not solved, problem stabilizing, but there still remains a problem. Latest figures show the population is still growing but at a much slower rate than a few years ago.

That's a good thing. If Arizona was still adding hundreds of thousands of people a year with our current economic picture we'd be in a sad, sad state of affairs.

This state can't provide services for the 6.5 million people who live here. We need some time to recover.

[Ponderosa]

Originally Posted by miamiman

That's a good thing. If Arizona was still adding hundreds of thousands of people a year with our current economic picture we'd be in a sad, sad state of affairs.

This state can't provide services for the 6.5 million people who live here. We need some time to recover.

If AZ were adding hundreds of thousands a year we would not be in this sad, sad, state of affairs. It would be boom times again. The problems we have are from a lack of growth - our top industry.

[fcorrales80]

[quote]

Originally Posted by azjack

The civilian labor force in the Phoenix-Mesa-Scottsdale MSA has shrunk by about 27,000 people in the last year according to AZ Commerce. Full reports are on their website.

From Nov 18, 2009:

Figures showing a "flat growth rate in Phoenix." Meaning the rate is stable and not increasing year over year, or month over month like in recent years past.

John Graham, president of Sunbelt Holdings, said he sees flat growth as good news because he thought the Valley had lost 200,000 people in the past few years (not the case).
Discussing the new report at Tuesday's meeting, Lattie Coor, chairman of the Center for the Future of Arizona, said, "It's still too early to call whether the slowdown in population growth is a blip, like in 1980s, or is it the start of a new growth dynamic for the region."

How soon we forget about past recessions and their ensuing surges following. Hopefully, the future growth in Arizona and Phoenix will be much more sustainable and not suburban. The recession and real estate collapse in the 80's in Phoenix was worse, with an unemployment rate flirting with 12%.

[fcorrales80]

Originally Posted by Ponderosa

If AZ were adding hundreds of thousands a year we would not be in this sad, sad, state of affairs. It would be boom times again. The problems we have are from a lack of growth - our top industry.

Growth wasn't our top industry, it was too big a piece of the pie. Particularly the construction industry which suffered the most.

[Ponderosa]

[quote=fcorrales80;12070272]

From Nov 18, 2009:

Figures showing a "flat growth rate in Phoenix." Meaning the rate is stable and not increasing year over year, or month over month like in recent years past.



How soon we forget about past recessions and their ensuing surges following. Hopefully, the future growth in Arizona and Phoenix will be much more sustainable and not suburban. The recession and real estate collapse in the 80's in Phoenix was worse, with an unemployment rate flirting with 12%.

I think we lost a lot of illegals.