by Jonathan Eberle | Sep 29, 2025 | Economy, News
By Jonathan Eberle |
Arizona added 700 nonfarm jobs in August, a modest increase that ranked the state 31st nationally in monthly job growth, according to a new analysis by the Common Sense Institute (CSI). Nationally, the U.S. economy gained 22,000 jobs, while 18 states recorded employment losses.
On an annual basis, Arizona showed stronger momentum, adding 41,400 jobs over the past year, a 1.29% gain that placed it 15th in the nation. However, CSI noted that the state has shed 15,100 jobs since April 2025, marking the second-highest nominal job loss in the country during that period and the fifth worst relative decline at 0.46%. Arizona’s unemployment rate remained at 4.1% in August, unchanged for six straight months. Labor force participation also held steady at 61.4%, below its pre-pandemic level of 62.2%.
Manufacturing led the way in August with 1,100 new jobs, a 0.6% increase that ranked Arizona third nationwide for monthly manufacturing growth. Despite the improvement, the sector remains down 1,100 jobs compared to last year. Mining and Logging posted the strongest year-over-year growth, adding 1,500 jobs, or 10.2%. By contrast, Leisure and Hospitality lost 0.6% of its workforce last month, while the Information sector continues to lag behind with a 2.7% year-over-year decline.
Average hourly wages in Arizona rose to $34.91, up 4.1% from August 2024. Adjusted for inflation, real wages increased 2.7% over the past year—outpacing the national average of 0.7%. Still, CSI’s report highlighted longer-term challenges: since April 2020, real wages in the state have fallen 4.3%.
Overall, the report points to a mixed picture for Arizona’s labor market: modest gains in key industries and wage growth, offset by lingering job losses since the spring and participation rates that remain below pre-pandemic levels.
Jonathan Eberle is a reporter for AZ Free News. You can send him news tips using this link.
by Jonathan Eberle | Sep 25, 2025 | Economy, News
By Jonathan Eberle |
Maricopa County has retained the highest possible credit rating. Standard & Poor’s Global Ratings affirmed its AAA rating with a stable outlook, signaling strong financial health amid broader economic challenges.
County officials say the rating reflects careful fiscal management and a solid economic foundation. According to Chairman of the Board of Supervisors Thomas Galvin, District 2, the AAA rating demonstrates that “Maricopa County is not only financially strong but fiscally responsible.”
The County operates well below its maximum property tax levy and carries no general obligation debt, a distinction rare for large counties. Officials note that these measures help reduce costs for residents while supporting strategic investments in infrastructure and public services.
The AAA rating reflects several factors, including:
- Conservative budgeting and prudent financial management.
- Healthy reserves that protect against economic uncertainty.
- A diverse local economy, with strong employment in government, education, health care, and aerospace.
- Taxpayer protection through levying nearly $270 million below the County’s maximum property tax capacity.
- Absence of general obligation debt, limiting taxpayer liabilities.
Maintaining the AAA rating also allows the County to borrow at lower interest rates, which can save millions of dollars on capital projects such as public safety facilities, technology upgrades, and infrastructure improvements. Officials say these savings benefit residents through enhanced services and lower costs.
The affirmation comes at a time when many counties nationwide face economic pressures, highlighting Maricopa County’s continued focus on long-term fiscal stability.
Jonathan Eberle is a reporter for AZ Free News. You can send him news tips using this link.
by Jonathan Eberle | Sep 22, 2025 | Economy, News
By Jonathan Eberle |
Arizona workers in Yuma and Lake Havasu City-Kingman have seen some of the strongest wage growth in the nation over the past five years, according to a new analysis of Bureau of Labor Statistics data.
The study, conducted by AlgoCademy, reviewed mean hourly wage changes across 395 U.S. metropolitan statistical areas between 2019 and 2024. It found that two Arizona metros ranked in the national top 50 for wage growth.
Yuma placed 11th nationwide, with mean hourly wages climbing from $19.54 in 2019 to $25.74 in 2024—a 31.73% increase. Lake Havasu City-Kingman followed at 26th, where average wages rose from $19.90 to $25.89, a 30.10% increase.
Nationwide, the strongest growth occurred in San Jose-Sunnyvale-Santa Clara, California, where wages jumped 44.29% to an average of $58.25 per hour, reflecting the tech hub’s continued economic strength. Other metros in the top five included Sebring, Florida (up 38.74%), Decatur, Illinois (37.89%), Boulder, Colorado (37.84%), and Bellingham, Washington (37.10%).
AlgoCademy’s founder and CEO, Mircea Dima, noted that the findings highlight a broad trend: wage growth is not confined to large urban centers. “Smaller and mid-sized areas like Grants Pass, Oregon, Modesto, California, and Logan, Utah are all seeing wage increases above 34%, showing that opportunities for higher earnings are spreading beyond major U.S. cities,” Dima said. “These trends are a clear sign that workers across the country are benefitting, which can have a positive effect on local communities, from boosting spending power to attracting new talent and investment.”
The research underscores that wage gains have been widespread. While high-growth areas like Silicon Valley continue to dominate in raw numbers, smaller regions—including several in Arizona—are seeing wages rise at a pace that outstrips many larger metropolitan areas. Arizona’s results put the state in strong company, showing that even outside its largest metros, wages have grown substantially since 2019.
Jonathan Eberle is a reporter for AZ Free News. You can send him news tips using this link.
by Jonathan Eberle | Sep 16, 2025 | Economy, News
By Jonathan Eberle |
According to a new report from the Common Sense Institute (CSI), inflation in the Phoenix metro area rose 1.4% year-over-year in August, as measured by the Consumer Price Index (CPI). The increase marks a climb from June’s 0.8% reading and ends a four-month stretch where local inflation hovered below 1%.
As noted by the report, the uptick comes as Arizona’s economy shows signs of slowing, with weaker job growth and a cooling housing market. Still, compared with much of the nation, inflation in Phoenix remains subdued. Among the 23 metro areas tracked monthly, Phoenix ranked 20th in year-over-year price growth, continuing a dramatic reversal from 2022 and 2023, when the region routinely topped the list for fastest-rising prices.
Nationally, inflation picked up in August, rising 2.9% from a year earlier after holding steady at 2.7% in the prior two months. Prices across the country have now exceeded the Federal Reserve’s 2% target for more than two years.
Since August 2019, consumer prices in Phoenix have climbed 30.2%, adding about $1,525 in monthly costs for the average Arizona household. Nationally, prices are up 26.3% over the same period. Typically, inflation would run closer to 10% in a five-year span. On a two-month basis, Phoenix saw a 0.9% increase from June to August, tying January for the largest short-term jump of the year. Nationally, prices rose 0.6% over that period.
Housing costs remain a key driver of Phoenix’s relatively low inflation reading. Shelter prices fell 0.1% year-over-year in August, the fourth consecutive month of negative growth. Excluding shelter, inflation in the Valley was 2.3%—still below the national average, but nearly double the headline local figure. The Federal Reserve, which aims to balance price stability with job growth, faces a complicated outlook. While local inflation has hovered below target for nearly a year, national prices have not fallen under 2.3% since 2021.
Jonathan Eberle is a reporter for AZ Free News. You can send him news tips using this link.
by Jonathan Eberle | Aug 30, 2025 | Economy, News
By Jonathan Eberle |
Financial fraud is emerging as one of Arizona’s most costly economic threats, with residents projected to lose more than $4 billion in 2025, according to a new analysis from the Common Sense Institute (CSI). The report, The Impact of Financial Fraud in Arizona, outlines how scams, identity theft, and other fraudulent activity are draining household finances and hampering economic growth. In 2024, Arizonans reported nearly 55,000 fraud cases, leading to $521 million in losses—an increase of 384 percent since 2020.
CSI economists estimate that only about 14 percent of fraud is ever reported, meaning the true cost is far higher. By next year, the institute projects that reported losses could reach $558 million, with an additional $3.4 billion in unreported incidents.
“Arizona is projected to lose over $4 billion to financial fraud in 2025. That’s nearly 1% of the state’s total GDP,” said Zachary Milne, senior economist and research analyst at CSI. “Fraud is a systemic drain on Arizona’s families and the economy. Eliminating these losses would mean billions in growth, tens of thousands more job opportunities, and lower prices for Arizonans.”
Key Findings from the Report
- The average loss per incident in Arizona was $6,270—nearly 30 percent higher than the national average.
- Arizona ranked 11th nationally for fraud cases, with 1,459 reports per 100,000 residents.
- Older residents face the greatest impact. Adults 60 and older account for two-thirds of internet-based fraud losses, with those 70 and older suffering the highest average dollar losses.
- For every dollar lost to fraud, Arizonans lose $1.06 in personal income due to broader economic effects. Families also face slightly higher prices on everyday goods and services.
- Fraud contributes to reduced economic activity, costing Arizona more than 45,000 jobs.
Fraud schemes cited in the report range from identity theft and phishing to romance scams, wire transfer fraud, and elder financial abuse. As more commerce moves online, CSI researchers warn that the risks will only grow.
The study also highlights how financial crime affects more than direct victims. Lost spending power, higher security costs, and reduced consumer confidence create ripple effects across the state’s economy. CSI estimates fraud-related losses shrink Arizona’s GDP by $5.2 billion annually. Nationally, the FBI and Federal Trade Commission tracked tens of billions of dollars in fraud losses in 2024, part of a steady upward trend over the past five years. Arizona, with its above-average loss rate and older population, is particularly vulnerable.
The report concludes that combating fraud is not only a matter of protecting individuals but also of preserving Arizona’s long-term economic health.
Jonathan Eberle is a reporter for AZ Free News. You can send him news tips using this link.
