In 2022, Arizona’s median age was 38.7, still slightly lower than the national average of 38.9.up to date Population projections for 2022 State and county statistics, including detailed age, race, and ethnicity, were released on June 22, showing the median age of the population continues to rise.
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The state with the youngest median age was Utah at 31.9 years, and the oldest was Maine at 44.8 years. Coconino County will be Arizona’s youngest county in 2022 at 32.7 years old. It also featured the largest change in median age, an increase of 1.1 years between the 2020 Census and the 2022 Population Projection. No counties in Arizona had a decrease in median age, but Pinal County remained unchanged at 40.1 years. Six Arizona counties had a median age over 40: Pinal County (40.1 years), Cochise County (42.3 years), Gila County (51.2 years), Mojave County (53.3 years), Yavapai County ( 55.1 years old), La Paz County (58.5 years old). The median ages in the state’s two largest counties, Maricopa and Pima, are 37.5 and 39.5, respectively, just under 40.
of consumer price index On a seasonally adjusted basis, May rose 0.1% month-on-month after rising 0.4% in April. Shelters and used cars and trucks were the largest contributors to monthly price fluctuations. Energy prices fell by 3.6% in May. The index for all items except food and energy rose 0.4% in May, the same rate of gain for the past three months. Inflation fell to 4.0% in May, the lowest since March 2021. The 12-month change in May for all items except food and energy was 5.3%. Energy prices fell 11.7% year-on-year, while food prices rose 6.7%.
Arizona was one of three states to see an increase in retirements in April, according to June 21 data. State job openings and turnover (JOLTS) report. A termination is a voluntary separation from employment and does not include termination or transfer. The April job openings rate declined in two states and increased in 13 states, but was little changed in all other states. Arizona’s job openings rate rose to 6.3% in March from 5.7% in February and rose to 7.0%. Nationally, the total turnover rate was little changed, as were the number of job openings and hiring.
Producer prices fell 0.3% in May on a seasonally adjusted basis.Bureau of Labor Statistics producer price index Final demand goods fell 1.6% in the month, and the final energy index fell 6.8%, according to the May report, with lower energy prices being the main factor in the decline. On the other hand, final demand services rose 0.2%. Final demand, which excludes food, energy and trade, was unchanged during the month. The 12-month change in final demand producer prices has trended downward since 11.2% in June 2022, reaching an unadjusted 1.1% in May.
housing prices In April, the infection spread nationwide, including Phoenix. Nationwide, home prices peaked in June 2022, fell until January 2023, and have risen steadily since then. Both indexes rose in this month, but both showed year-on-year declines, with Phoenix showing his 6.14% decline and the National Home Price Index reporting a 0.2% annual decline. increase. Miami, Chicago, and Atlanta reported the highest year-on-year increases, with year-over-year price increases of 5.2%, 4.1%, and 3.5%, respectively. Seattle and San Francisco recorded the biggest declines at 12.4% and 11.1% respectively. The southeast is the strongest region for house price growth in the country, registering a 3.6% increase in prices, while the west is the weakest, declining 6.9% over the year.
building permit Arizona experienced a sharp year-on-year decline in May, with non-seasonally adjusted permits down 13.9% to a total of 4,534. The Phoenix metropolitan area dominated with 3,402 permits, down 15.7% from May last year. Meanwhile, the Tucson metropolitan area reported 450 permits, an increase of 3.0%, bucking the trend. Within counties, Apache and Coconino counties saw increases in the total number of building permits. Conversely, several counties, including Cochise, Gila, Mojave, Navajo, Pinal, Santa Cruz, Yavapai, and Yuma counties saw year-over-year declines in total housing units. Graham and La Paz counties showed no change in this respect.
US real GDP According to the U.S. Bureau of Economic Analysis’ third estimate, it will grow at an annualized rate of 2.0% in the first quarter or 2023, an upward revision of 0.7 percentage points. Both current dollar GDP and real GDI were revised upwards in this release. However, the real GDI is still negative 1.8%, up 0.3 points from his second estimate, making the real GDI negative for the second quarter. The release also included a breakdown of real GDP growth by industry, with private service-producing industries up 2.6%, government industries up 2.7%, and private goods-producing industries down 0.7%. Within the private service production industry, health care and social assistance. retail trade; real estate and rental leasing; Growth was driven by lodging and food services, partially offset by declines in finance and insurance. Among private goods-producing industries, both durable and non-durable manufacturing declined, partially offset by increases in agriculture, forestry, fishing and hunting.
author: Story written by Delaney Okley-Murphy EBRC Research economist. Valorie Rice, Senior Business Information Specialist. Alexandra Yeter is an EBRC web application developer.
