Image by Gerd Altmann from Pixabay The Arizona economy experienced an increased labor force and decreased unemployment between November and December 2022, according to a new report from the Office of Economic Opportunity. While the seasonally adjusted labor force saw an uptick of 0.2%, there was an overall annual increase of 2.8%, which equates to
Wages rose 5.3% in the Phoenix metro area last year, but prices rose almost twice as fast, with rising fuel and food prices eroding workers’ buying power despite a surging economy. The situation in Arizona mirrored the U.S., where an average 5% increase in salary and wages was outstripped by a 7% rise in the
The U.S. Army, for the first time, is offering a maximum enlistment bonus of $50,000 to highly skilled recruits who join for six years, The Associated Press has learned, as the service struggles to lure soldiers into certain critical jobs during the continuing pandemic. Maj. Gen. Kevin Vereen, head of Army Recruiting Command, told AP
Benjamin Whitely headed to a Safeway supermarket in Washington D.C. on Tuesday to grab some items for dinner. But he was disappointed to find the vegetable bins barren and a sparse selection of turkey, chicken and milk. “Seems like I missed out on everything,” Whitely, 67, said. “I’m going to have to hunt around for
Warning that high inflation could make it harder to restore the job market to full health, Federal Reserve Chair Jerome Powell said Tuesday that the Fed will raise interest rates faster than it now plans if needed to stem surging prices. With America’s households squeezed by higher costs for food, gas, rent, autos and many
The economy and stock market will continue to grow in 2022 but will feel the effects of inflation, money managers and advisors say. “High inflation should persist longer than expected,” according to the Capital Group’s 2022 outlook. “Inflation levels should remain elevated through late 2022, fueled by labor shortages and broken supply chains.” Inflation numbers
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