Arizona’s Recession-Tattered Economy Improving, Strong Growth Expected in 2014-15

Arizona’s economy, commercial real estate and job markets, while at a slow pace are all office condo in payson arizonarecovering.


CNNMoney reports that the latest data from the ADP National Employment Report found that hiring picked up in the private sector hired 188,000 in June, according to the new report, up from 134,000 in May. The strongest pace of hiring since February and exceeded economists’ expectations of 150,000 jobs.


UA economist and EBR Center director George Hammond said “The Arizona economy continues to grow and improve in early 2013, but the pace overall is slow compared to historical standards,” “The outlook calls for the state to gather speed during the next two years, but only after another year of sluggish gains.”


While the tourism industry, call centers and healthcare industry have been hiring. The challenge for Arizona’s economy is securing more high-wage job growth.


Hammond expects more sustained economic growth in 2014 and 2015 both for jobs and the overall economic picture.


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