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Port Operations and Economic Conditions
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Current Economic Conditions: Third Quarter 2006 EMPLOYMENT AND ...
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Topic: Economic Conditions
Sort Desciption: Current Economic Conditions: Third Quarter 2006. EMPLOYMENT AND UNEMPLOYMENT. Arizonas employment continues to rise at a steady rate when comparing the ...
Content Inside: Current Economic Conditions: Third Quarter 2006 EMPLOYMENT AND UNEMPLOYMENT Arizonas employment continues to rise at a steady rate when comparing the current quarters numbers to the same quarter in the prior year (see Figure I). The Bureau of Labor Statistics seasonally-adjusted employment for Arizona grew by 4.7 percent from the third quarter of 2005 to the third quarter of 2006. These figures are based on preliminary figures for the third quarter 2006. For the United States the change was 1.3 percent increase from the third quarter 2005 to the third quarter 2006. The Arizona seasonally adjusted unemployment rate reported by the Arizona Department of Economic Security shows the September 2006 rate at 3.7 percent which is down significantly from the September 2005 rate of 4.8 percent (see Figure I). The September 2006 rate for the Phoenix Metro area is at 3.2 percent and the Tucson Metro area is at 3.7 percent. Nationally the unemployment rate for September 2006 is 4.6 percent down moderately from the 5.1 percent rate in September 2005. PERSONAL INCOME Inflation adjusted (using the GDP implicit price deflator) personal income as reported by the Bureau of Economic Analysis for Arizona rose slightly from the first quarter of 2006 to the second quarter of 2006 increasing by 1.2 percent. Earnings and wages and salary also rose slightly from last quarter of 2006 with earnings posting a 1.2 percent increase and wage and salary a 1.4 percent increase over the previous quarter. Comparing the second quarter of 2006 to the second quarter of 2005 Arizona posted a moderate increase of 6.3 percent for personal income 7.9 percent increase for earnings and 8.9 percent increase for wages and salary. For the nation inflation adjusted personal income earnings and wages and salary for the second quarter of 2006 were reported as follows: personal income was up 0.9 percent; earnings down 2.7 percent and wages and salary up 1.0 percent. U.S. personal incom ...
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