Arizona Economy Poised for Steady Growth Despite Looming Recession Fears

Economic experts believe a recession is possible but not until late 2024 or 2025. Metro Phoenix is poised to fare better than most of the U.S.

Arizona ranked 6th for job growth from 2019-2023 and has a low unemployment rate around 4%.

About 58% of Americans think the economy is struggling, but key indicators are going in different directions.

Inflation has moderated but is still high around 4%. Mortgage rates and credit card interest rates have more than doubled.

Metro Phoenix had strong job growth in 2022 and the long-term outlook is good, but the short-term is tied to the national economy.