by Jonathan Eberle | Aug 26, 2025 | Economy, News
By Jonathan Eberle |
Arizona’s labor market continued to struggle in July, losing nearly 5,000 jobs and marking the state’s third consecutive month of employment decline, according to the latest data from the Bureau of Labor Statistics.
The state shed 4,900 nonfarm jobs on a seasonally adjusted basis last month, a 0.15% decrease that ranked Arizona 46th among all states in monthly job growth. Since April, the state has lost a total of 23,400 jobs—the steepest decline in both raw numbers and percentage change of any state in the nation.
Nationally, employment also slipped, falling 0.12% in July. Twenty-one states reported job losses.
On a year-over-year basis, Arizona gained 29,600 jobs, a 0.9% increase that puts the state roughly in line with the national average of 1.0%. But the pace of growth has slowed sharply compared to recent years. So far in 2025, Arizona has added just 5,200 jobs—an average of 743 per month. Between 2022 and 2024, monthly job growth averaged more than 5,300.
Economists say the state remains well below its pre-pandemic trajectory. Arizona now has about 254,400 fewer workers than it would have had if its 2017–2019 growth trend had continued. At the current pace, the gap is unlikely to close.
The state’s mining and logging industry was the strongest performer, adding 1,400 jobs in July and growing nearly 10% over the past year. Analysts credit federal policy shifts and rising demand for U.S.-sourced raw materials like copper and uranium for the sector’s continued momentum.
By contrast, manufacturing continued to contract, losing 1,100 jobs last month and more than 3,000 over the past year—a 1.6% decline. Nationwide, the sector has also struggled, with 29 states reporting year-over-year manufacturing job losses. Leisure and hospitality posted the steepest monthly decline in Arizona, down 0.9% in July.
Arizona’s unemployment rate remained unchanged at 4.1%, holding steady for the fifth straight month. The labor force participation rate also stayed flat at 61.4%. By comparison, the U.S. unemployment rate ticked up to 4.2% in July, while the national participation rate edged down to 62.2%. Both Arizona and the nation remain below pre-pandemic participation levels.
Wages showed modest improvement. Average hourly earnings in Arizona increased by 10 cents in July to $34.79, a 0.29% rise that ranked 18th among all states. Over the past 12 months, wages in the state climbed 4.9%, outpacing the national average of 3.9%. Adjusted for inflation, real wages in Arizona are up 4% compared to just 1.1% nationwide.
Still, long-term wage trends tell a different story. Since April 2020, inflation-adjusted pay in Arizona has fallen 4.1%.
The report also underscored concerns about the reliability of monthly employment estimates. June’s figures were revised downward sharply—from a reported loss of 8,400 jobs to a revised loss of 15,200. That revision ranked as the seventh largest adjustment among all states.
Economists caution that declining survey response rates and lingering disruptions from the pandemic have increased volatility in state-level labor data, making short-term trends harder to interpret.
Jonathan Eberle is a reporter for AZ Free News. You can send him news tips using this link.
by Jonathan Eberle | Aug 19, 2025 | Economy, News
By Jonathan Eberle |
Arizona businesses are taking on some of the nation’s largest loans, according to a new study that analyzed Small Business Administration (SBA) lending data from 2021 through 2024.
The report, compiled by Fleysher Law Bankruptcy & Debt Attorneys, found that companies in Arizona borrowed an average of $699,343 per loan, placing the state sixth highest nationwide. In total, 5,293 SBA loans worth more than $3.7 billion were approved in Arizona during the study period.
Georgia topped the list, with businesses borrowing an average of $795,216 per loan across 8,099 approvals, amounting to $6.4 billion. Texas and California followed, averaging $770,887 and $765,968 per loan respectively. California led all states in both total approvals (31,610) and overall loan value ($24.2 billion).
Other high-borrowing states included Alaska ($725,285), North Carolina ($722,981), Louisiana ($663,950), Nevada ($647,991), Alabama ($637,609), and Utah ($630,412). Maine ranked lowest, with businesses averaging just $272,290 per loan.
The study highlights wide regional differences in borrowing patterns, particularly with Southern states recording higher average loans. Analysts note that while large loans may suggest increased financial obligations, they are often a sign of investment rather than distress.
“This data shows clear differences in how businesses across the country access financing,” a spokesperson from Fleysher Law said. “Though large loans mean that the company needs money, it doesn’t automatically signal financial trouble. Many businesses borrow for working capital, equipment purchases, or product development.”
The report reviewed three types of SBA loans:
- 7(a) Loans, which provide flexible funding for a variety of business needs.
- 504 Loans, designed for fixed assets such as real estate, buildings, or large equipment.
- Microloans, offering up to $50,000 for smaller businesses or startups.
The findings underscore how companies across the U.S. are leveraging federal loan programs to finance operations and growth. With economic pressures continuing, access to capital remains a critical factor in business sustainability.
Jonathan Eberle is a reporter for AZ Free News. You can send him news tips using this link.
by Ethan Faverino | Aug 18, 2025 | Economy, News
By Ethan Faverino |
The One Big Beautiful Bill Act (OBBBA) marks the most transformative overhaul of federal tax policy since the 2017 Tax Cuts and Jobs Act (TCJA).
The OBBBA locks in the TCJA’s individual tax provisions, avoiding a tax increase for approximately 62% of tax filers in 2026, according to the Tax Foundation.
The group’s recent analysis also shows that the law will reduce federal taxes for individual taxpayers in every state, with an average national tax cut of $3,752 per taxpayer in 2026.
The economic impact is equally as big, with 938,000 new full-time equivalent jobs created over the long term, including 132,000 in California, 81,000 in Texas, and down to 1,800 in Vermont.
In Arizona, the Tax Foundation says that the OBBBA will deliver an average tax cut of $3,521 per taxpayer in 2026, providing relief to families and individuals across the state.
Maricopa County will see an average tax cut of $4,049 per taxpayer in 2026, driven by key provisions like:
- Income Tax Rate Cuts and Bracket Changes: $1,613 in savings per taxpayer.
- Standard Deduction Expansion: $821 in savings
- Child Tax Credit Expansion: $630 in savings
- Tip and Overtime Deductions: $50 and $229 in savings
- Business Provisions: $1,321 in savings
Other counties in the state will see major tax cuts in 2026, including Coconino County, with $3,096, Yavapai County, with $3,066, Greenlee County, with $3,011, Pima County, with $2,781, and Pinal County, with $2,553.
The Tax Foundation also projects that Arizona will gain approximately 18,014 full-time equivalent jobs in the long run, boosting local economies and supporting communities across the state.
OBBBA’s long-term outlook remains strong, with average tax cuts projected to dip to $2,505 in 2030 due to the expiration of temporary provisions like the tip and overtime deductions, before rising to $3,301 by 2035 as inflation enhances the value of permanent cuts.
Arizona’s business-friendly provisions, such as permanent 100% bonus depreciation and research and development (R&D) expense, will continue to drive investment and job creation.
Ethan Faverino is a reporter for AZ Free News. You can send him news tips using this link.
by Jonathan Eberle | Aug 18, 2025 | Economy, News
By Jonathan Eberle |
Pittsburgh-based autonomous trucking company Aurora Innovation Inc. has officially opened a terminal in Phoenix, marking a significant step in the company’s efforts to expand its commercial footprint beyond Texas.
The newly operational site supports driverless freight runs, including nighttime operations, and is part of Aurora’s strategy to scale its autonomous vehicle network across the southwestern United States. The company confirmed that the Phoenix terminal opened in June and is already servicing commercial routes for two of its key partners: Hirschbach Motor Lines and Werner Enterprises.
This development follows Aurora’s earlier announcement, reported last fall, that it would extend its existing autonomous freight corridor — which previously connected Fort Worth and El Paso — to include Phoenix. The move marks Aurora’s first expansion outside of Texas and signals growing confidence in its driverless trucking technology.
While Aurora declined to provide the terminal’s exact location, a company spokesperson said it is situated a few miles from the Loop 202 and Interstate 10 interchange in Phoenix — a strategic logistics hub for commercial transport. Details on staffing at the terminal, including how many employees are currently working on site or whether they are permanently based in Arizona, were not disclosed.
The expansion comes as Aurora and its competitors in the self-driving freight sector race to commercialize their technology at scale. With rising demand for long-haul freight solutions and persistent driver shortages, autonomous trucking is increasingly being positioned as a critical innovation in the logistics industry.
Aurora has not yet announced additional expansion locations, but its continued growth outside of Texas suggests a broader national rollout may be on the horizon.
Jonathan Eberle is a reporter for AZ Free News. You can send him news tips using this link.
by Jonathan Eberle | Aug 17, 2025 | Economy, News
By Jonathan Eberle |
Main Street confidence ticked upward in July, with the NFIB Small Business Optimism Index rising 1.7 points to 100.3, edging above its long-term average for the first time in months. The lift was driven largely by more owners reporting better business conditions and viewing it as a good time to expand.
The latest figures, however, paint a mixed picture. While sentiment improved, NFIB’s Uncertainty Index climbed eight points to 97, and labor quality has re-emerged as the top challenge, cited by 21% of owners, the highest share since early spring.
Survey results show growing confidence in day-to-day operations. Thirteen percent of owners rated their business health as “excellent,” up five points from June, and 52% said it was “good,” up three points. Reports of “fair” or “poor” conditions declined. Owners’ outlook on the economy also improved: the net share expecting better business conditions jumped 14 points to 36%, well above historical norms. Sixteen percent said it is a good time to expand, up from 11% last month.
Even with the improved outlook, sales remain a point of concern. Eleven percent named poor sales as their most pressing problem — the highest since February 2021. Inflation worries held steady at 11%, the lowest level since September 2021, though 28% plan to raise prices in the months ahead, a sign that cost pressures persist.
Worker shortages remain acute. Thirty-three percent of owners reported job openings they could not fill, the lowest since December 2020 but still well above average. Of those hiring, 84% said they had few or no qualified applicants. Plans to boost pay are cooling: 27% reported raising compensation in July, down six points, and 17% plan to do so in the next three months. Labor costs were named the top concern by 9% of respondents.
Capital investment showed modest improvement. Fifty-five percent of owners reported spending in the past six months, with the largest share buying new equipment. Still, plans for future capital outlays remain below long-term averages. Borrowing conditions are relatively stable, with only 4% saying their last loan was harder to get. Interest rate concerns remain low, though 25% of owners borrow regularly — a historically small share.
Jonathan Eberle is a reporter for AZ Free News. You can send him news tips using this link.
by Ethan Faverino | Aug 16, 2025 | Economy, News
By Ethan Faverino |
Congressman Andy Biggs (AZ-05) has introduced a resolution in the U.S. House of Representatives formally recognizing America’s escalating national debt as a direct threat to national security.
As the national debt surpassed $36.2 trillion in January 2025, with the fiscal year 2024 interest expense exceeding $1.13 trillion, Congressman Biggs is urging Congress to confront the growing fiscal crisis head-on.
The resolution highlights the severity of the debt crisis, noting that the total public debt reached 120.87% of GDP in January 2025, equating to $104,780 per citizen and $323,045 per taxpayer.
It points to the federal government failing to produce a balanced budget since 1997, with the fiscal year 2024 resulting in a $1.86 trillion deficit due to federal outlays of $6.94 trillion.
The resolution warns that continued reliance on raising the debt ceiling and bypassing regular order in the appropriations process undermines fiscal responsibility and congressional oversight.
The resolution also references warnings from former national security leaders, including Secretary of Defense James Mattis, Director of National Intelligence Dan Coats, and Chairman of the Joint Chiefs of Staff Michael Mullen, who have all emphasized the national debt’s threat to military and economic security.
Congressman Biggs, who has introduced this resolution in previous Congresses, remains steadfast in advocating for fiscal discipline. He has also proposed a balanced budget amendment to the U.S. Constitution to enforce long-term fiscal responsibility.
“The federal government’s wasteful spending spree is unsustainable and is inching us ever closer to a fiscal cliff,” said Biggs. “Our reckless spending habits will enable our adversaries to surpass us on the global stage and constrain our ability to defend our nation in the face of attack. It is past time for Congress to be serious about balancing the nation’s budget and making significant cuts to federal spending, lest we pin a $70 trillion debt on our children and grandchildren’s shoulders. Relying on continuing resolutions year after year is lazy legislating. Raising the debt ceiling every year is a cop out. American voters elected us to enact President Trump’s America First priorities through responsible budgeting, not to maintain the status quo. My resolution acknowledges that Washington has a spending problem and calls to restore regular order to the appropriations process.”
Congressman Biggs’ resolution and amendment are backed by cosponsors across the country, including Rep. Byron Donalds (R-FL), Rep. Paul Gosar (R-AZ), Rep Daniel Webster (R-FL), Rep. Dan Newhouse (R-WA), and Rep. Keith Self (R-TX).
Ethan Faverino is a reporter for AZ Free News. You can send him news tips using this link.
