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