The Joint Economic Committee (JEC) released an update Thursday showing inflation remained above the Federal Reserve’s target in April while consumer spending increased and personal savings declined.
According to the JEC’s Monthly Expenditures Update, the headline personal consumption expenditures (PCE) price index increased 0.40% from March to April, while core PCE inflation, which excludes food and energy prices, rose 0.24%. The annual inflation rate from April 2025 to April 2026 measured 3.77% for headline PCE and 3.29% for core PCE, both exceeding the Federal Reserve’s stated 2% inflation target.
The PCE index is the Federal Reserve’s preferred inflation measure and tracks changes in prices paid by consumers for goods and services.
The JEC reported that spending increased during the same period while savings declined. Real personal consumption expenditures increased by 0.11%, representing approximately $18.08 billion in additional spending. Real spending on services increased 0.19%, or $21.47 billion, while real spending on goods rose 0.08%, or $4.7 billion. At the same time, the nominal personal savings rate declined by 0.6 percentage points to 2.6%.
Y/Y, headline PCE price index inflation was 3.77%, which is higher than the Federal Reserve’s target of 2% & core PCE price index inflation was 3.29%. M/M, headline personal income remained unchanged, or $19 million, while real disposable personal income per capita decreased by…
— Joint Economic Committee Republicans (@JECRepublicans) May 28, 2026
According to the committee’s update, headline personal income remained effectively unchanged month-over-month, increasing by approximately $19 million, while real disposable personal income per capita decreased by 0.50%. The report stated that after-tax income increased more slowly than consumer prices during the month.
The figures align with data released Thursday by the U.S. Bureau of Economic Analysis (BEA), which reported increases in both consumer spending and inflation during April. According to the BEA, personal income increased by $210.1 billion, or 0.8%, while disposable personal income increased by $189.4 billion, or 0.8%. Personal consumption expenditures increased $47.8 billion, or 0.2%.
The BEA reported that prices for personal consumption expenditures increased 0.4% month-over-month and 3.8% annually, while core PCE prices increased 0.2% during April and 3.3% over the previous twelve months.
The JEC also released its Gross Domestic Product Update for the second estimate of first-quarter 2026 economic activity.
According to the committee, real gross domestic product increased 1.62% from the fourth quarter of 2025 to the first quarter of 2026. Current-dollar GDP increased 5.15%, or approximately $396.9 billion, bringing the total size of the U.S. economy to $31.819 trillion.
JEC Chairman Rep. David Schweikert (R-AZ01), who is also running for governor of Arizona, discussed affordability and inflation during a segment with KTAR host Mike Broomhead, describing what he characterized as the continuing effects of “Biden inflation” on Arizona households.
“For people in Arizona, for a whole segment of our working middle class — you know, hardworking population — they’re poorer today than they were five years ago,” Schweikert said. “We were one of the epicenters of Biden inflation. Then you actually do policies from particularly the governor’s office of not recruiting new businesses here to compete for your willingness to work. So affordability — because our wages haven’t gone up — we’re now 45th in affordability. That’s miserable. I mean how many people can afford a house right now?”
Arizona’s working middle class is poorer today than five years ago. Wages are flat, housing is out of reach, and families are trying to make the mortgage and car payment.
If we want affordability, we need jobs that force businesses to compete for Arizona workers again. pic.twitter.com/lU9c983UUT
— David Schweikert (@DavidSchweikert) May 27, 2026
In a post to X on Thursday, he wrote, “If we’re serious about affordability, the first thing we do is raise wages by bringing employers here that have to compete for Arizona workers.”
The committee’s GDP update reflected the Bureau of Economic Analysis’ second estimate for first-quarter economic growth. The full Joint Economic Committee Monthly Expenditures Update and GDP Update are available through the committee’s website.
As Summer RV travel peaks across the United States, new research highlights stark differences in crowding at America’s national parks. Arizona’s iconic Grand Canyon National Park stands as a major draw for RV enthusiasts, ranking ninth busiest overall despite a cooling trend in 2025.
According to data from Blue Capital Holdings, RV campers flocked to Glacier National Park in Montana more than any other over the past five years, logging more than 429,000 summer visits (June-August) from 2021 to 2025. Yosemite National Park in California followed closely in second place.
Top 5 Most Popular National Parks for Summer RV Camping (2021-2025):
Glacier National Park, Montana – 429,693 visits
Yosemite National Park, California – 423,672 visits
Great Smokey Mountains National Park, Tennessee – 333,739 visits
Olympic National Park, Washington – 280,272 visits
Acadia National Park, Maine – 158,105 visits
“Summer shows just how concentrated RV travel has become around a small number of national parks,” stated Blue Capital Holdings CEO Rich Turasky. “Glacier and Yosemite are in a league of their own, and together they logged more than 850,000 summer RV visits over the past five years. What is interesting is that popularity does not always mean momentum. Glacier still ranks first overall, but its numbers slipped in 2025, while Yosemite surged by 43%. Rocky Mountain also climbed 23%, and Kings Canyon rose 42%, so there are still parks seeing very strong summer demand.”
Grand Canyon National Park in northwestern Arizona recorded 124,968 summer RV visits over the five-year period, securing ninth place nationally. The park saw 26,075 visits in 2024 before declining roughly 20% to 20,854 in 2025, reflecting broader patterns where many headline destinations experienced softening demand amid concerns over heat, crowding, and access.
Arizona’s crown jewel continues to captivate travelers seeking its world-renowned vistas, dramatic landscapes, and unique Southwest character. While not topping the list, the Grand Canyon remains a bucket-list staple for the RV campers drawn to Arizona’s natural wonders.
According to the National Park Service, Grand Canyon’s North Rim reopened as of May 15, 2026, following impacts from the Dragon Bravo Fire. All paved roadways within the park have reopened, restoring access to many iconic viewpoints such as Point Imperial, Cape Royal, Roosevelt Point, and Angels Window.
The North Rim Campground is expected to reopen in June 2026 for tent and RV camping, however there will be no water or RV hookups available — campers must bring all their own portable water.
Stage 2 fire restrictions also remain in effect throughout the 2026 season due to limited water resources, prohibiting wood and charcoal fires.
Several trails remain closed due to fire impacts, including Bright Angel Point, Widforss, Transept, Uncle Jim Trail, and sections of the Ken Patrick Trail. No overnight lodging is available on the North Rim inside the park this season, though options exist outside the park boundaries.
At the other end of the list, several parks recorded dramatically lower traffic, providing quieter alternatives for summer travel.
Top 5 Least Popular National Parks for Summer RV Camping (2021-2025):
Badlands National Park, South Dakota – 1,845 visits
Death Valley National Park, California – 4,245 visits
Big Bend National Park, Texas – 4,979 visits
Guadalupe Mountains National Park, Texas – 5,531 visits
Canyonlands National Park, Utah – 6,138 visits
“At the same time, some of the biggest names lost ground. Great Smoky Mountains fell 19%, Grand Canyon was down 20%, and Yellowstone dropped 31% year on year,” added Turasky. “That suggests RV travelers are not just following the most famous names blindly, but are being influenced by heat, crowding, access, costs and the overall experience once they arrive. The least-visited summer parks also tell their own story. Places like Death Valley and Big Bend are spectacular, but summer can be a difficult time to visit them in an RV. For travelers willing to plan carefully, though, the lower numbers can mean a much quieter national park experience.”
Ethan Faverino is a reporter for AZ Free News. You can send him news tips using this link.
A new analysis of housing data found that less than half of households in Arizona could afford their monthly mortgage in 2025.
A new report from the Common Sense Institute (CSI) determined that only 42% of Arizona households could afford their mortgages last year.
In 2019, 66% of Arizona households could afford their monthly mortgages.
The report also found that the state faces a 56,000-unit housing shortfall, and estimated a long-term cumulative housing deficit of 110,800 units.
Based on those estimations, CSI predicted that it would take well over a century — 119 years — to close the housing gap in Arizona.
CSI found that Arizona households need to make $87,000 annually or nearly 60 hours of work per month at the average hourly wage rate ($35.10) to afford a typical home mortgage. In 2019, the hours of work per month needed to afford an average mortgage amounted to just under 40 hours.
CSI’s analysis found that housing costs remain elevated while building permits have declined.
Although home prices fell by about 3% in 2025, the average home was estimated to cost nearly $42,000 (or 11%) above the pre-pandemic pricing — nowhere close to historical trends or price-to-income ratios. Home prices peaked in 2022.
At present, the average house in Arizona costs nearly $421,000. That figure represents a 3.4% decline from summer 2024 and an 8.6% decline since summer 2022. However, that average home cost sits $142,900 higher than the average cost in 2019.
As of February, the average 30-year mortgage rate was over 6%.
Compared to the earliest data provided (2015), many things have increased greatly for Arizonans: the average home price (doubled), the average mortgage payment (nearly tripled), and the hours of work required (nearly doubled).
The average home pricing in December 2015 was just over $211,100, with a 30-year mortgage rate just under 4%, an average mortgage payment of $800, and the average wage rate of $23.23 requiring 35 hours of work per month.
Average monthly mortgage payments doubled from 2019 to 2025: about $1,000 in 2019 to $2,000 in 2025.
The state issued just under 51,000 residential building permits last year, representing a 14% decline from 2024.
Though lower, last year’s total permits fell within the range for keeping up with population growth and housing demand. CSI estimated that the state needs between 45,000 to 60,000 permits annually to keep pace with growth and demand. Maintaining that safety range doesn’t appear to be the reality shaping up for 2026, however. The state authorized about 3,000 new housing units in January, putting the state on pace to have 36,700 units by the year’s end — well below the necessary annual permit range.
This report on the state of housing was released around the same time as the latest employment report from the Senate’s Joint Economic Committee (JEC).
The JEC found that the unemployment rate remained unchanged in April (4.7%), which is higher than the national unemployment rate (4.3%). The state had an increase in about 8,100 net payroll jobs, one of 42 states to experience an increase; in March, the state had a 1,900-job increase.
Over the past year, Arizona added 13,300 payroll jobs and the unemployment rate rose by 0.5%.
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Arizona added 8,100 nonfarm jobs in April, outperforming the national monthly growth rate and ranking 16th among all states and Washington, D.C., according to a new analysis released by the Common Sense Institute (CSI) Arizona. The report, based on the latest Bureau of Labor Statistics data, found that while Arizona’s labor market showed improvement in April, broader employment growth in the state remains historically weak.
According to CSI’s Arizona Jobs and Labor Force April 2026 Update, Arizona posted a monthly employment increase of 0.25%, placing the state 16th nationally for job growth during the month. CSI reported that Arizona added 13,300 jobs over the past year, representing annual growth of 0.41% and marking the first positive year-over-year employment growth recorded in the state since August 2025.
Despite the gains, CSI’s analysis concluded that Arizona’s labor market continues to face longer-term challenges with growth “unusually and persistently slow.”
The report noted that statewide job growth has remained effectively flat over the past two years and follows several months of mixed labor market performance. In CSI’s previous employment update covering March 2026, Arizona lost 2,600 nonfarm jobs and recorded its seventh consecutive month of year-over-year job losses before April’s rebound returned annual growth to positive territory.
Arizona added 8,100 jobs in April, but the bigger story is how flat the state’s labor market has become.
After seven straight months of year-over-year job losses, Arizona returned to positive annual growth but at just 0.41% — a sign the labor market may be stabilizing, but still… pic.twitter.com/Xz1OtZl7Ir
— Common Sense Institute Arizona (@CSInstituteAZ) May 22, 2026
Arizona’s manufacturing sector continued to lag behind broader employment gains, while Mining and Logging posted the fastest monthly growth. The sector added 100 jobs over March, an increase of 0.60%. The report noted that “This is a comparatively small sector but it has shown consistent growth over the last five years; today the state’s mining sector employs 44% more workers than it did in June 2020.”
CSI reported that Arizona lost 500 manufacturing jobs year-over-year in April, while 39 states reported declines in manufacturing employment during the same period. The organization noted that manufacturing weakness has persisted both in Arizona and nationally in recent months.
Labor force indicators, including the unemployment rate and the labor force participation rate (LFPR), have remained largely unchanged since March.
Arizona’s unemployment rate held steady at 4.7% in April, matching the rate recorded in March, while labor force participation remained at 61.4%, according to the Bureau of Labor Statistics and CSI’s analysis. State labor data published by the Bureau of Labor Statistics similarly shows Arizona maintaining a 4.7% unemployment rate during April.
The report also found continued wage growth among Arizona workers.
According to CSI, average private-sector wages in Arizona increased 3.8% year-over-year, ranking the state third nationally in annual wage growth. Arizona workers now earn an average of $36.02 per hour, while real wages, adjusted for inflation, increased approximately 0.8% over the past year. By comparison, the average U.S. worker earned $37.41 per hour in April, an increase of 3.57% year over year.
CSI stated that although April represented a positive month for Arizona employment, the state’s labor market remains substantially weaker than the rapid growth experienced during the post-pandemic recovery period and continues to show signs of slower long-term expansion.
The Maricopa County Board of Supervisors (MCBOS) approved a tentative $4.1 billion FY 2027 budget this week and scheduled a Truth in Taxation hearing over proposed increases in the county’s primary property tax levy and primary property tax rate.
In a May newsletter emailed to constituents, District 1 Supervisor Mark Stewart described the tentative budget as consistent with a focus “on keeping property taxes low,” despite the increases noted in the county’s Truth in Taxation Calculation.
According to Maricopa County, the tentative budget unanimously approved on May 18 reflects what county officials described as a fiscally conservative approach focused on maintaining services, preserving reserves, and reducing the overall property tax rate for a sixth consecutive year. County officials stated that the county’s tax levy remains $278.4 million below the maximum permitted under Arizona law.
In a press release announcing the tentative budget approval, Board Chair Kate Brophy McGee said county officials faced difficult fiscal decisions amid economic uncertainty.
“There’s no way to sugarcoat this: with an uncertain statewide economic outlook, it’s a tough year to budget,” Brophy McGee said. “To best serve our taxpayers, we had to say ‘no’ to most spending requests.”
Chair @KateMcGeeAZ says, "I am proud we found efficiencies to ensure we provide the same level of services and give some relief to taxpayers while safeguarding against an economic downturn." pic.twitter.com/gjNgRuEbYu
Vice Chair Debbie Lesko said the county continues to prioritize limiting tax burdens on residents. “Keeping your taxes as low as possible has always been one of my top priorities,” Lesko said. “This year, we are once again voting to cut your property tax rate, showing that Maricopa County leads the way in fiscal responsibility.”
"Keeping your taxes as low as possible has always been one of my top priorities," says Vice Chair @DebbieLesko, District 4. "This year, we are once again voting to cut your property tax rate, showing that Maricopa County leads the way in fiscal responsibility." pic.twitter.com/oWVxvriHZ6
However, documents accompanying the tentative budget show, as in 2025, the county is proposing an increase in its primary property tax levy that requires a Truth in Taxation hearing under Arizona law.
According to Maricopa County’s FY 2027 Truth in Taxation calculation, the proposed primary property tax levy would increase from $719.1 million, the maximum amount that could be imposed without a Truth in Taxation hearing, to approximately $735.9 million. After excluding new construction, the proposed increase totals approximately $16.46 million, or 2.34%. The proposed primary tax rate would be 1.1463, compared to 1.1201, the maximum rate that could be imposed without triggering a Truth in Taxation hearing.
A home assessed at $100,000 would see the county’s primary property tax rise from $112.01 to $114.63, an increase of $2.62. The county’s Truth in Taxation calculation estimates the proposed levy exceeds the non-hearing threshold by approximately $16.46 million.
The Truth in Taxation analysis provided by the county states that the current primary property tax levy totals approximately $703.9 million and reflects assessed valuation and new construction calculations required under Arizona law.
County officials have emphasized that property valuations are determined separately from the Board’s tax-rate decisions and that Maricopa County receives only a portion of overall property tax collections. In prior Truth in Taxation notices, the county stated that it historically receives approximately 11 cents of every property tax dollar collected.
The Board of Supervisors is scheduled to hold a public Truth in Taxation hearing on June 22, 2026, at 9:30 a.m. at the Board of Supervisors’ Auditorium before final adoption of the FY 2027 budget and tax levy.
Arizona’s rising marriage rate is having a positive impact on its poverty rate, according to a new study.
The Center for Arizona Policy (CAP) and the Institute for Family Studies (IFS) published a 75-page report last week assessing the impact of family structures on childhood outcomes, academic performance, and community prosperity across the state.
CAP said the report indicated marriage to be an exceedingly powerful, though heavily underutilized, anti-poverty and life success tool.
Since the first year of the pandemic, 2020, Arizona rose from 39th to 35th on the nation’s Family Structure Index, which measures healthy family structure trends.
In 2011, 58 percent of children in Arizona lived with married parents. In 2024, that number rose to 62 percent.
From 2022 to 2024, 85 percent of Arizona children ages six to 17 living with married parents received A’s and B’s in class, whereas only 64 to 65 percent of children in that age range who lived with a single mother or other family structures received those higher grades.
15 percent of Arizona children living with married biological parents received poor grades (mostly B’s and C’s or lower). Comparatively, over one-third of children from single-mother or other homes received those poorer grades.
Additionally, reading proficiency scores tended to increase within districts with higher shares of married-couple households. 60 percent of students within the Higley Unified School District (HUSD) tested proficient in reading; 77 percent of households with children in that district have married parents.
The Flowing Wells Unified School District — which spends about 60 percent more per student on classroom support than HUSD — had a student reading proficiency rate of 35 percent aligning with its married-parent household with children rate of 54 percent.
The report found that the correlation between higher reading proficiency rates and higher marriage rates proved to be true regardless of race.
Marriage rates also proved to have an impact on Arizona children’s mental health. In non-intact families, girls were 60 percent more likely to be depressed and boys were 57 percent more likely to be depressed.
Arizona children in intact homes were less likely to be living in poverty. Less than one in 10 children from married homes were found to be living in poverty, compared to more than one in five children with cohabitating parents and one in four children in single-mother homes.
Unlike with academic outcomes, race did appear to have an impact on poverty. White children in Arizona had starkly lower poverty rates within both married and unmarried households than non-white children.
Three percent of white children living in intact homes were in poverty in Arizona, compared to 14 percent of Hispanic children, 20 percent of Native American children, and 22 percent of black children.
15 percent of white children living in non-intact homes were in poverty in Arizona, compared to 23 percent of Hispanic children, 27 percent of Native American children, and 31 percent of black children.
CAP President Peter Gentala said in a press release that Arizona, historically a frontier state, has a new frontier with building families.
“The American Dream — the Arizona Dream — is still within reach for every Arizonan, and strong families are how we get there together,” said Gentala. “This report isn’t partisan. It’s a data-driven invitation to every Arizonan who cares about the future of our state.”
The report, titled “Renewing Arizona Families: Why Strong Families Are Central to Arizona’s Future,” was co-produced with University of Virginia researcher and National Marriage Project director W. Bradford Wilcox.
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