Jobs Jobs Jobs – The Employment Report is out and +284,000 more Jobs than we thought yesterday!

Yes, the biggest boost our economy needs is JOBS. Put people to work and they spend more  putting more people to work to spend more…..

In January, only 157,000 jobs were created. However, revisions to November and December were quite substantial. With 247,000 in November, 196,000 in December and 157,000 in January, there are 600,000 people working today  that were not employed October 31, 2012!

With the real estate market zooming back, construction jobs are growing. Here in metro Phoenix, most builders can’t find people to fill their construction positions.

Did You Know?

• New Home Permits were up 65% in 2012, equalling 11,852 vs 7,204 for all of 2011
• 63,900 Jobs were created in Arizona up 2.6% in 2012, with 39,000 here in metro Phoenix
• Unemployment rate for Arizona is 7.9% in 12/2012 vs 9% for 12/2011
• Unemployment rate for metro Phoenix is 6.7%
• Foreclosure Starts down 40% 12/20012 = 1,721 vs 12/2011 = 2,867
• Foreclosure Starts down 74% Compared to Dec 2009 12/20012 = 1,721 vs 12/2009 = 6,646
• Lender Owned Sales down 51% 1/2013 = 722 vs 1/2012 = 1,479

We have a HUGE shortage of homes here in metro Phoenix and Scottsdale. Bidding wars are driving up prices and values are up 30% from a year ago, based on price per square foot.

How do you handle a shortage?

Build more homes!

It would seem prudent we could see close to 20,000 new homes built in the metro Phoenix area for 2013. Actually the need is there, can the builders ramp up quick enough… If we build 20,000 homes that will create around 20,000 more jobs here in Phoenix. This is a recipe to really get the economy cooking.

What do you think?

Are you unemployed or under employed?

Post your comments on our blog.

 

Just my opinion….

Jeff R Cameron