The University of Arizona’s Economic and Business Research Center publishes quarterly data and insights on the Arizona and Tucson economies. Read the editor’s synopsis below of current economic conditions, with links to detailed stories.
According to data released January 17th, 2013, the unemployment rate for Arizona ticked up to 7.9 percent from 7.8 percent in November. This is still at least down from the 9 percent of a year ago. At the same time, Arizona gained 3,200 nonfarm jobs in December, all in the private sector. Evidence is mixed, and recovery in Arizona continues at a painfully slow pace. EBR’s new Associate Director and Research Professor, Dr. George Hammond, explores reasons for Arizona’s difficult climb out of the “Great Recession” in our lead article. For more on the outlook for Arizona and the nation, you may also browse presentations from this year’s Economic Outlook Luncheon.
The long recession, even longer recovery, and policy choices have caused structural changes in Arizona’s economy. Recent releases from the Census Bureau show that over 1.2 million Arizonans are now living in poverty.
As the nation and Arizona continue edging along the “fiscal cliff,” budget and tax rates continue to be front and center. Dr. Alberta H. Charney, a foremost authority on tax policy and impacts, provides insights to inform this important debate in her article “Can tax cuts pay for themselves by stimulating growth?”
Maile L. Nadelhoffer, Editor
Arizona’s Economy is the quarterly journal of the Economic and Business Research Center at the University of Arizona. Our mission is to provide the Arizona community of business and public-sector decision makers with applied research and information on economic, demographic, and business trends in Arizona.