By Valorie Rice, EBRC Senior Business Information Specialist
July 18, 2014
The June Producer Price Index (PPI) was released July 16. The PPI for final demand moved up 0.4% over the month on a seasonally adjusted basis after showing a decline of 0.2% in May. Goods rose 0.5% for the month while services rose 0.3%. For the 12 months ending in June, the index for final demand increased 1.9%.
The Bureau of Labor Statistics released June employment figures for all states on Friday, July 18. Arizona was among the 14 states with an unemployment rate increase while 22 states had decreases and 14 had no change. Arizona’s unemployment rate was up slightly in June, moving to 6.9% from 6.8% in May.
Year-over-year job growth was 1.7% for Arizona, all of which could be contributed to the private sector. The private sector added 45,900 jobs between June 2013 and June 2014 while government dropped 3,100 for the same period.
Initial unemployment claims for Arizona were stable the first week of July, at 5,131 compared to 5,176 the week before. The four-week average was also lower, matching the one week figure of 5,131. The number applying for benefits nationally dropped 3,000 to a seasonally adjusted 302,000. The four-week average dropped also dropped 3,000 to 309,000 which is the lowest level since June 2007.