Driven by COVID-19 pandemic, Arizona jobs, income and sales experienced a dizzying drop from February to April. Travel and tourism, health care, professional and business services and retail trade were hit hard, but the housing sector remained surprisingly robust. The economic recovery began in May and was rapid at first, propelled in part by federal funds flowing from the CARES Act. As the pandemic dragged on through the summer, the recovery slowed significantly.
There is still a huge amount of uncertainty about the future of the outbreak and the pace of the recovery. What industries will recover the fastest? How fast will the hardest hit sectors recover? What are the long-term economic consequences of the pandemic? Will Arizona experience a major increase in migrants from other states, as remote workers seek lower housing costs? What are the implications of the Federal Reserve’s recent shift in policy guidance? How will the stock market fare in the recovery?
Join MAP Dashboard and the Eller College of Management Economic and Business Research Center’s Director and Research Professor, George Hammond, and JP Morgan Chase’s Former Chief Economist, Anthony Chan, as they offer insight into emerging economic trends and answer these questions.