Arizona’s unemployment rate fell to 3.3% in March, the lowest rate in almost a half-century, according to numbers released Friday by the Bureau of Labor Statistics. The White House said Arizona was one of 17 states whose jobless rates hit “historic lows” in March, as the U.S. economy claws its way back from the pandemic.
The U.S. cost of living surged 8.5% over the past 12 months, the fastest one-year increase in more than 40 years, driven by skyrocketing gas, food and housing prices, new government data shows. And consumers in the Phoenix area have been seeing even sharper increases – while March numbers are not yet available for the
As one of its three pillars to address inflation, and in continuation of the agenda outlined through last summer’s Executive Order on “Promoting Competition in the American Economy,” the Biden administration promised more work promoting competition. Recognition of the importance of competition in the economy — or even in government — ought to have bipartisan
An inflation gauge that is closely monitored by the Federal Reserve jumped 6.1% in January compared with a year ago, the latest evidence that Americans are enduring sharp price increases that will likely worsen after Russia’s invasion of Ukraine. The figure reported Friday by the Commerce Department was the largest year-over-year rise since 1982. Excluding
Consumer prices rose by an average of 7% in U.S. cities last year, the steepest rise in decades, and they grew even faster in the Phoenix metro area, according to new data from the Bureau of Labor Statistics. The bureau reported Wednesday that the consumer price index for the Phoenix-Mesa-Scottsdale area rose 9.7%, driven by
President Joe Biden enters the midterm election year of 2022 determined to address what economists call a “supply” problem — there aren’t enough jobseekers or goods to meet the country’s needs. This is also a political problem. The mismatch has obscured the strong growth and 3.9% unemployment rate achieved during Biden’s first year, the kind