Arizona unemployment rate dropped sharply in May, though economists advise caution on figures

The state still has about 163,000 fewer jobs than it did a year ago, but the turnaround is welcome nonetheless.

The state still has about 163,000 fewer jobs than it did a year ago, but the turnaround is welcome nonetheless.

In this story published June 18, 2020, in The Arizona Republic:

This 45,000 new jobs added, it looks pretty good. Compared to a year ago, we are still way down. I think there is a strong case to be made, maybe not for a V-shapred (rapid) recovery, but slow, steady growth through the end of the year and better growth next year.

– Research Professor of Economics Lee McPheters, who is the director of the JPMorgan Chase Economic Outlook Center