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Arizona continues to be a state that ranks highly in terms of rates of growth. This is primarily true for population and job statistics. However, measuring rates of growth without also considering the quality of the growth that is being produced can be misleading.
The economic forecast described by ASU professor Lee McPheters (“ASU forecast: Strong Arizona economic rebound in progress with no housing bubble growing,” May 6) focuses on counts rather than quality. Dr. McPheters is not wrong, but the story is just incomplete.
The economic summary fails to recognize some key areas of concern on the horizon for Arizona. To rebuild as a stronger, more inclusive statewide economy, Local First Arizona believes policymakers should be considering the following when they review economic data.
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In the past few weeks, 22 states have announced they would end federal pandemic unemployment benefits, which pay recipients $300 on top of state benefits and are scheduled to run into September. (New Hampshire is the latest.)
Many of the states’ governors, all Republicans, made statements similar to that of Gov. Henry McMaster of South Carolina, who said the expanded benefits are “incentivizing and paying workers to stay at home rather than encouraging them to return to the workplace.” The U.S. Chamber of Commerce said the same.
Businesses of all types report that they are having trouble hiring despite high unemployment. But are expanded unemployment benefits really to blame?
This month s job numbers show we are on the right track, said Biden. But we still have a long way to go. My laser focus is on growing the nation s economy and creating jobs. My laser focus is on vaccinating, and my laser focus is on one more thing: making sure that hard working people in this country are no longer left out in the cold.
Hours before Biden spoke, the Labor Department reported that hiring slowed dramatically in April, with nonfarm payrolls increasing by a much less than expected 266,000 and the unemployment rate rose to 6.1% amid an escalating shortage of available workers.
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