Greater Phoenix Blog

The Business Journal of Phoenix - 11:11 AM MST Thursday, April 5, 2007

by Adam Kress

The Business Journal

As per the usual, the Phoenix area is No.1 for new jobs.

Arizona State University’s Blue Chip Job Growth Update ranks the area first among the nation’s largest metro markets for employment growth between February 2007 over February 2006.

The area’s 4.8 percent increase in total nonagricultural employment represents 89,200 new jobs. In metropolitan markets with less than 1 million workers, the Gulfport-Biloxi, Miss., area ranked No. 1, posting a 14.5 percent gain equating to 13,500 jobs.

Among states, Utah holds the top position in nonagricultural job growth for February, with a 4.4 percent increase, representing 52,000 jobs. Michigan remains in last place, with a 1 percent decrease, losing nearly 45,000 jobs.

Overall, the U.S. economy grew by close to 2 million jobs in February 2007 over February 2006, an increase of 1.5 percent.

(2 votes, average: 5 out of 5)

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The Valley grew by 787,306 people from April 2000 to July 2006, the fourth-largest gain for a metropolitan area in the U.S. during that time, according to new census data.

Estimates released Wednesday

indicate that the Valley’s population grew by 24 percent. The Valley is the 13th-largest metropolitan area in the nation, with more than 4 million residents, up from 14th in 2005.

The Atlanta area led the U.S. in population growth from 2000 to 2006, followed by Dallas and Houston.

The 50 metro areas with the largest percentage increases were all located in the West and South.

The most populous areas remain New York (18.8 million), Los Angeles (13 million) and Chicago (9.5 million).

(2 votes, average: 5 out of 5)

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NEW YORK - Home Depot Inc., Alcoa Inc. and DuPont Co. helped the Dow Jones Industrial Average recover almost all of its losses from the Feb. 27 global rout, and led the Standard & Poor’s 500 Index to its second straight/-gain. Google Inc.’s biggest jump since March 6 gave the Nasdaq Composite Index its fourth/-consecutive advance.

The National Association of Realtors’ index of signed purchase agreements climbed 0.7 percent last month, allaying concern falling real estate prices will curb spending. A separate report showed retail sales last week rose the most in two months, while the biggest drop in oil since March 9 bolstered expectations the economy will grow without fueling inflation.

The Dow industrials added 128, or 1 percent, to 12,510.30. The gauge is now 1 percent shy of recouping all of its decline from the global equity sell-off that began Feb. 27.

The S&P 500 rose 13.22, or 0.9 percent, to 1437.77. The Nasdaq increased 28.07, or 1.2 percent, to 2450.33.

More Americans signed contracts to buy previously owned homes in February, easing concern the housing market will worsen. Economists surveyed by Bloomberg expected a 0.5 percent drop in signed purchase agreements.

Warmer weather spurred a 4.9 percent increase in U.S. retail sales last week as consumers bought clothing and foods for Easter and Passover, according to the International Council of Shopping Centers and UBS AG.

Retailers gained the most among two dozen industries in the S&P 500, climbing 1.5 percent. Household spending accounts for about two-thirds of the U.S. economy. Home Depot, the world’s biggest home-improvement retailer, added 84 cents to $37.63.

(2 votes, average: 5 out of 5)

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