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Arizona labor market shows improvement: BMO Capital Markets Economics
The Arizona labor market has begun to show some signs of improvement in recent months, although overall growth remains modest and home prices continue to fall, according to the State Monitor report released Nov. 17 by BMO Capital Markets Economics. The Arizona labor market has picked up recently, with four straight quarterly gains, lifting employment 1.7 percent above year-ago levels in the third quarter. Still, payrolls are a deep 10 percent below pre-recession levels. Manufacturing and construction led the pack with more than a 3 percent increase year-over-year, but after peaking at more than 9 percent of nonfarm payrolls at the height of the 2006 boom, construction now makes up just 4.6 percent of total employment.
November 18, 2011
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Arizona labor market shows improvement: BMO Capital Markets Economics
The Arizona labor market has begun to show some signs of improvement in recent months, although overall growth remains modest and home prices continue to fall, according to the State Monitor report released Nov. 17 by BMO Capital Markets Economics. The Arizona labor market has picked up recently, with four straight quarterly gains, lifting employment 1.7 percent above year-ago levels in the third quarter. Still, payrolls are a deep 10 percent below pre-recession levels. Manufacturing and construction led the pack with more than a 3 percent increase year-over-year, but after peaking at more than 9 percent of nonfarm payrolls at the height of the 2006 boom, construction now makes up just 4.6 percent of total employment.
November 18, 2011
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