Sunday, November 9, 2008

Increase in Arizona Jobless Rate

Though economic downturns may create opportunities for some Phoenix entrepreneurs and Arizona Franchisees, joblessness isn't anything that brings a spirit of cheer. According to this article, Arizona currently matches the national statistic for jobs and is hovering at close to 6 percent. "And economists at the state Department of Commerce said the situation will continue to deteriorate for the immediate future. New figures Thursday put the seasonally adjusted unemployment rate at 5.9 percent. That’s up three-tenths of a percent from August; a year earlier the figure was 3.8 percent.The last time the state jobless rate was this high was July 2003." The credit crunch, commodity prices and lack of consumer confidence have all been blamed as possible factors.