by Valorie Hanni Rice
Senior Specialist, Business Information
Producer prices for total final demand decreased 0.1% in September, the first decrease for this year. Final demand goods were down 0.2% while final demand services were down 0.1% for the month. The unadjusted change over the year was 1.6%.
The Arizona unemployment rate dropped to 6.9% in September, according to the October 16th release. Total nonfarm employment was 2,579,900 in September, at 2.1% increase over a year ago. The majority of job gains over the year were in the private sector, with education and health services followed by professional and business services having the highest gains over the year.
Arizona initial unemployment claims were slightly higher the last week of September, moving to 4,455 from 4,395 the week before. The four-week average was also higher at 4,354. First-time claims for jobless benefits were down to a 14-year low nationally. Benefit claims were a seasonally adjusted 264,000 the second week of October. The less volatile four-week average was at 282,500.
Bankruptcies in Arizona were down 21.6% for September compared to a year ago. Year to date filings for 2014 are down 12.6% from 2013.
Initial unemployment claims in Arizona were stable the third week of September at 4,395. The four-week average was 4,176 compared to 4,132 the week prior. Jobless claims lowered nationally the first week of October to a seasonally adjusted 287,000. The four-week average was also lower at 287,750.
Hands and calculator photo courtesy Shutterstock.