Phoenix-area economist believes Arizona is poised for a healthy 2018.
Arizona State University’s W.P. Carey School of Business recently held its annual Economic Forecast. Here are a few takeaways for the economy and jobs as we head into 2018.
Arizona ranks 13th for job growth so far this year among U.S. states with a 1.8 percent gain.
Arizona ranks first in the U.S. for growth in finance and insurance (4 percent), food service (8.5 percent) and fifth for health care (3 percent).
One Valley economist said the coming of 2018 could also bring some positive changes, including a huge boost for job and population growth in Arizona.
Jim Rounds with the Rounds Consulting Group said Arizona could be among the top five states in the country when it comes to job and population growth.
“Overall, Arizona is on solid footing,” he said. “Expect us next year to be in the top five, both for job growth and population growth.”
The state added more high paying jobs in 2017, which has Jim Rounds thinking the new year should be even better, possibly in the top five nationally when it comes to job growth.
Rounds said the passage of the Republican tax reform bill, which was signed into law by President Donald Trump shortly before Christmas, is expected to help the state’s economy in the long run.
“We are expected to see a benefit,” he said. “Individuals will spend more, businesses will invest more. The argument is that it will have a positive impact and help move public policy in the right direction.”
