News Article From: 09-05-2006
The first article, Arizona job gains likely to continue, from the Arizona Republic, reports that Arizona will continue to add jobs at a healthy clip through 2007 but not at the fast pace seen in 2005. Arizona economist at the Department of Economic Security see a 4.9 percent job growth rate in 2006 and 4 percent in 2007. That's down from the 5.3 percent job growth rate seen in 2005. The slowdown will be due to the housing market slowdown. But even at 4.9 percent, it will be much higher than the national average. The Department of Economic Security report said that out of Arizona's 11 major industry groups, 10 should grow jobs this year and next. The Arizona Business Conditions Index also rose to 60.5 in August from 54.4 in July. A reading above 50 indicates growth.
The second article, Study: Phoenix top relocation destination, from the Arizona Republic, reports that The Retirement Solutions Foundation, a group run by personal-finance author Jane White, ranked Phoenix number 1 in a new study of best relocation destinations. The report looked at several factors such as local economic strength, employment, housing affordability and attractions that make a city enjoyable. "Affordable real estate attracts workers, especially from obscenely overpriced California," the study says of Phoenix. "The region also has an unusually large number of organizations devoted to helping small businesses." Also, the report noted high rankings for the Valley from Inc. and Entrepreneur magazines and the Milkin Institute.