Amid closures prompted by the COVID-19 pandemic, Arizona’s seasonally-adjusted unemployment rate spiked up significantly reaching 12.6% in April. That was below the national rate of 14.7% but was the highest reading since the beginning of the current series in 1976...
Prior to the COVID-19 pandemic, the Tucson economy posted the strongest growth in the past decade. Employment gains were at a 13 year high of 1.9% in 2019 (see figure 1), GDP outpaced the nation, and wages increased by 4.1%...
The spread of COVID-19 has created adverse economic impacts for the nation, as well as, Tucson. One sector that has been hit hard by the pandemic is the leisure and hospitality industry. This sector includes hotels, motels, restaurants and bars...
The COVID-19 pandemic has world-wide consequences for not only the health and wellbeing of individuals but also the global economy. Recent research by the Brookings Institute provides a glimpse into which regions of the U.S. are likely to be hit...
The median sales price of existing single-family homes in the Tucson Metropolitan Statistical Area (MSA) increased by 7.1% last year. That resulted in a 12-year high with prices at $238,900. Home prices have steadily increased in Tucson and across the...
The spread of COVID-19 has created adverse economic impacts for the nation and these impacts will grow in coming weeks and months. Arizona will not escape the damage. The national economy will be in recession very soon, if it is...
In 2018, the percentage of people living in a household with broadband internet access was 86.9% in the Tucson Metropolitan Statistical Area (MSA), placing it seventh among 12 comparable MSAs and just ahead of the national rate. Technology is an...
