Tag Archives: economy

Phoenix Employment Update | August 2014

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August Phoenix Employment UpdatePhoenix employment growth picked up in May to 2.1 percent over the last 12 months. The Valley added just under 37,700 new jobs  over the last year.

Education and health services as well as financial activities continue to drive the market forward with the biggest gains. In fact, the two sectors combined make up about 35… Read More

JLL’s Tony Lydon appears on Arizona Horizon

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JLL’s Tony Lydon, managing director of industrial, recently appeared on PBS 8’s Arizona Horizon news program to give an update on Arizona’s industrial market. View the segment above.

Click to tweet: #JLL‘s #TonyLydon appears on @arizonapbs‘ #AZHorizon to give an update on #AZ‘s #industrial market. http://bit.ly/1olgQo3

 

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Chart of the Week: Residential construction hits a speed bump

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COW_Phoenix_May 1

Residential construction in Phoenix has seen slow but steady growth since the worst of the recession when the construction sector lost over 106,000 jobs, a third of all jobs lost in Phoenix. The last two quarters have recorded the trend flattening. Slow economic growth in the overall US economy may be hindering the growth that Phoenix needs.

Click here for more market insight on our Phoenix research… Read More

Arizona manufacturing faces mixed future

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Note: The following interview and article featuring Anthony Lydon, JLL’s Managing Director – Industrial, originally aired on 91.5 KJZZ and appeared on KJZZ.org.

Listen to the interview:

http://joneslanglasalleblog.com/Phoenix/wp-content/uploads/2014/04/Manufacturing-Down.mp3

Lydon-KJZZ

A new report highlights how manufacturing has changed in Phoenix over the last year, and what could happen as the industry comes out of the recession. The report from JLL is generally positive: The housing market is stabilizing while… Read More

Phoenix Employment Update | May 2014

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May Phoenix Employment UpdatePhoenix employment growth has slowed slightly to 2.2 percent over the last 12 months. The Valley added 39,900 new jobs new jobs over the last year.

The top four sectors include Trade, Transportation & Utilities, Education & Health Services, Professional & Business Services, and Financial Activities. These four employment sectors make up the… Read More

As Phoenix suburban office markets recover, skyline poised to follow

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2014 Phoenix Skyline Report now available

Skyline“Game on” seems to be the sentiment of Phoenix office tenants as they continue to bounce back from the recession, albeit with smaller work spaces that must achieve greater efficiencies with a reduced footprint. Suburban office markets—primarily in Tempe, Chandler and the Camelback Corridor—that are close to employees and offer… Read More

Chart of the Week: Phoenix unemployment in the middle of the pack

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COW_Phoenix_March 31

Phoenix is seeing strong annual job growth which has helped bring down the unemployment rate from 10.5 percent during the recession to its current rate at 6.7 percent. Riverside, CA and Detroit, MI had unemployment exceed 15.0 percent during the recession and continue to have the highest unemployment rate among the largest 20 metropolitan… Read More

Phoenix Employment Update | March 2014

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March Phoenix Employment UpdateAlthough Phoenix lost 31,600 jobs in January due to seasonal lay-offs, the valley is still far ahead of last year’s January totals. Phoenix 12-month job growth is at 2.7 percent which translates into 48,405 new jobs added since last January.

All major employment sectors shed jobs in January with the biggest losses… Read More

Price Road Corridor is Hot

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NOTE: The following article featuring Dave Seeger, JLL’s Managing Director – Office, originally appeared on GlobeSt.com.

Seeger_GlobeStThe Price Road Corridor is one of the hottest commercial sectors in the Valley Metro area. And with the area 50% built out, a tipping point is not in sight. With the sector employing more than 35,000 people and expectations for 75,000, the sector is also a contributing factor to… Read More

Chart of the Week: 2013 was wrapped in caution tape

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 COW_Phoenix_February 17

Economic uncertainty coupled with political brinkmanship in an already slow recovery led to hesitation among many tenants in 2013. Office leasing activity  in Phoenix dropped below the 10-year average of 6.4 million SF in 2013, but expect this trend to reverse as tenants begin to re-evaluate their real estate needs in… Read More