M A Y

1 9 9 6

OUTLOOK FOR
METRO PHOENIX
REMAINS BRIGHT
Marshall J. Vest
Forecasting Project Director
April 1, 1996

T

he Phoenix-Mesa metro area
continues to amaze. Last year
matched, and in some cases
surpassed, boom conditions of
1994. Population growth exploded
and, after a lull in the first half of
1995, housing markets accelerated
once again. Recent slowing in sales
and employment growth suggest
that a more normal-paced expansion
will become established during
1996. We review the results below,
but first, a look at recent revisions
to the employment estimates.
EMPLOYMENT ESTIMATES
REVISED UPWARD
In its annual revisiting of previouslypublished estimates, the Arizona Department
of Economic Security significantly boosted
its estimates for the total number of jobs
for the past two years. These revisions show
that Arizona’s economy remains one of the
fastest-growing states in the nation. Some
22,400 additional jobs were added statewide to the preliminary 1995 estimate.
That boosts the number of jobs created last
year to nearly 91,000. Instead of the 4.5%
increase originally reported, the revised
gain is now 5.4%.
Prior to the revision, Arizona ranked
fourth among all states for job creation
during 1995 with its preliminary 4.5% gain.
Nevada led the nation with a 6.2 % gain. Utah
was second with a 5.6% and New Mexico was

S P R I N G

third with a 5.1% gain. After the revisions,
Arizona moved up a notch to third place,
ahead of New Mexico.1
In addition, some 7,000 jobs were added
to 1994. When combined with last year’s
out-sized revisions, 1994’s boost of 53,500
over the initial estimate is the largest upward
revision ever. That puts the number of new
jobs created during 1994 at 106,300, a
percentage gain of 6.7%. That is the largest
number of jobs ever created in Arizona in a
single year. During this business expansion,
which began five years ago, almost 300,000
jobs have been created.
In its first revision to the 1995 estimates,
DES found nearly 14,600 additional jobs
in trade, 10,500 in services, and 2,700
in construction. Gains for all other major
employment groups were revised downward.
Manufacturing jobs, for example, instead of
increasing by 8,400 as originally reported,
are now estimated to have increased by only
2,600. That’s 5,800 fewer jobs. Likewise for
finance, insurance and real estate (FIRE),
which is now estimated to have lost 2,400
jobs last year (Exhibit 1).
Government payrolls increased by a
whopping 12,100 in 1995. But that reflects
a return to “normal” after an abnormally
low estimate for 1994. In our analysis one
year ago we stated, “Unbelievably, 10,000
jobs were subtracted from government.
Federal government payrolls … declined by

I S S U E

1995 WAS ANOTHER
BANNER YEAR FOR
THE PHOENIX-MESA
METRO ECONOMY.
IT’S AMAZING
THAT AN AREA WITH
OVER 2.5 MILLION PEOPLE
CAN GROW SO RAPIDLY.

roughly 3000, [and] education employment
during June and July of 1994 was significantly
below normal seasonal levels, suggesting
either a glitch or a change in the way
teachers were counted during the summer
recess. All of the problems occurred in the
Phoenix-Mesa metro area and are reflected
in the state-wide estimates.” In the newly
revised numbers, the glitch for 1994 remains,
but the 1995 numbers appear back to
normal, which explains the large increase.
Estimates for Arizona’s two largest metro
areas also were revised – Phoenix-Mesa
metro estimates were pushed higher, while

I N S I D E

FORECAST TABLES ................5
CHARACTERISTICS OF
ARIZONA’S HIGH TECH
INDUSTRY ..........................6
ARIZONA ECONOMIC
INDICATORS......................12

K A RL ELLE R G R AD U AT E S CHO OL OF M ANA GEM ENT • COL LE G E O F B U SINE SS AN D PU BL I C A DMI NI ST RA TI O N
T H E U N I V E R S I T Y OF A R I Z O N A

TUCSON, ARIZONA

EXHIBIT 1
ARIZONA EMPLOYMENT
CHANGES, 1995 VS 1994
(in thousands)

Tucson’s were largely unchanged (Exhibit
2). Job growth in the Phoenix-Mesa Metro
Area was a robust 6.4% rather than 5.3%,
while growth in Tucson is a modest 2.3%,
slightly less than the originally-reported
2.6% gain.
In the balance of the state, i.e., the areas
outside of the two large metro areas, some
10,600 jobs were created last year, a gain of
4.1%. That compares to a 13,400, or 5.6%,
increase in 1994.

PHOENIX-MESA METRO AREA:
1995 IN REVIEW
1995 was another banner year for the
Phoenix-Mesa metro economy. It’s amazing
EXHIBIT 2
Employment Increases
1994 to 1995
Percent
Increase

Absolute
Increase

Arizona
Revised
Original

5.4
4.5

90,900
75,600

Phoenix-Mesa MA
Revised
Original

6.4
5.3

73,500
59,900

Tucson Metro Area
Revised
Original

2.3
2.6

6,800
7,500

Balance of State
Revised
Original

4.1
3.2

10,600
8,200

PAGE TWO

EXHIBIT 3
Help Wanted Index
Phoenix-Mesa Metro Area
(1987=100)

that an area with over 2.5 million people
can grow so rapidly. Even more amazing is
that the boom has continued for a second
consecutive year. Among the highlights:
• Over 73,500 jobs were created during
1995, 300 more than during 1994’s
boom. 1984 is the only year with more –
78,700. As a percentage, 1995’s increase
is 6.4%, which ranks the Phoenix area
fifth among some 300-plus metro areas,
many of which are much smaller! After
moving to lower levels in early 1995, the
index of help wanted advertising for Metro
Phoenix surged to record levels as the
year came to a close and that portends
continued growth of payrolls in the coming
months (Exhibit 3). The size of the gains
should moderate as the year unfolds,
however. Another 50,000 jobs should be
added in 1996, a 4.1% increase.
• Population increased by more than
105,000, the largest single-year gain ever
recorded. Another 83,500 persons will
be added in 1996.
• Retail sales increased by 9.7% during the
year. After adjusting for inflation, the real
gain was 6.7%. Other than the increases
of 11.5% and 7.1% increases in 1994
and 1993, respectively, this is the largest
real increase since 1985. Consumers will
moderate their spending in 1996: look
for a current-dollar increase in the five to
six percent range.

• Residential building permits totaled
36,400, about 1,800 units more than the
prior year.2 That’s the most since 1986,
when 42,800 were issued(about 800 in
Pinal County). Once again, Metro Phoenix
was among the strongest new housing
markets in the nation. Single family permits
were a few hundred higher than the prior
year, and that made 1995 the biggest year
since 1978 (Exhibit 4). Going forward,
one should look for 25,000 single family
units to be built in 1996.
• Sales of resale housing broke the all-time
record set one year earlier with 36,800
homes sold. Sales mirrored movements in
interest rates: sales declined during 1994
as rates moved higher, then increased to
new highs as rates fell in 1995 (Exhibit
5). The average price of homes sold
increased by six percent. As population
flows subside and affordability deteriorates, fewer sales should be expected.

OUTLOOK FOR THE PHOENIXMESA METRO AREA
The Metro Phoenix economy has just
experienced two back-to-back years of
explosive growth. For rapid growth to
continue for a third year would be unprecedented. So, in 1996, the Phoenix growth
machine will cool, and rates of growth will
return to more normal levels.
ARIZONA'S ECONOMY

EXHIBIT 4
Permits: Single Family Units

EXHIBIT 5
Multiple Listing Unit Sales

Phoenix-Mesa Metro Area

Phoenix-Mesa Metro Area

EXHIBIT 6
Wage & Salary Jobs

EXHIBIT 7
Total Housing Unit Permits

Phoenix-Mesa Metro Area
(seasonally adjusted)

Phoenix-Mesa Metro Area

The manufacturing and construction
industries (the two most volatile over the
business cycle) will slow significantly.
Population growth will also recede. Consumers are still optimistic about the future but
they will be unable to maintain their spending
spree of the last two years, and retail sales
figures will cool significantly as the year
progresses. The economy’s rate of growth
should recede further and fall “below
average” in 1997.
AR IZ ON A 'S ECON O MY

In recent months, job growth has moved
into the four percent range and that is what
one should expect for the remainder of the
year (Exhibit 6). About 50,000 new jobs
in 1996 are expected. The largest increases
will be recorded in services (21,000 jobs)
and trade (8,000). Expansions at several
manufacturing plants will boost payrolls by
7000, or 4.3% . That’s about half of manufacturing’s 1994 gain of 9.6%, but better
than last year’s gain of 1.6%.

The Phoenix area is the selected site of
several new chip plants scheduled to be
built during the second half of this decade.
Projects include new plants and expansions
at Intel, Motorola, Microchip Technology,
SGS-Thompson Microelectronics, and
Sumitomo Sitix. These projects, which
typically mean several hundred million
dollars of investment and thousands of highpaying jobs, bode well for Phoenix’s future.

PA GE TH RE E

EXHIBIT 8
Annual Changes in Population
and Nonag Employment
Phoenix-Mesa Metro Area

CONSU-MERS
ARE STILL OPTIMISTIC
ABOUT THE FUTURE
BUT THEY WILL BE UNABLE
TO MAINTAIN
THEIR SPENDING SPREE
OF THE LAST
TWO YEARS

In recent months, however, soft sales of
computers and reduced demand for chips,
memory, etc. have led to downward revisions
in industry forecasts. One project was
recently canceled – Micron’s $2 billion plant
in Utah. And, the bellwether book-to-bill
ratio for the semiconductor industry dropped
below one in both January and February,
which means that demand is shrinking. This
development obviously needs monitoring.
Housing markets, after retreating in the
first half of 1995, have regained lost ground
in recent months and moved to new highs
for this business cycle. Single family building
peaked in the spring of 1994 and drifted
lower until 1995’s first quarter, due primarily
to higher interest rates. Then, as interest
rates fell, single family building surged again
and as 1996 began, permits were running
in excess of 30,000 units at an annual rate.
However, interest rates jumped in March
and building activity will decline as the
year unfolds. We look for 25-26,000 single
family permits for all of 1996 (Exhibit 7).
Over 8,100 apartment units were permitted
in 1995, a jump of 26% from the prior year.
Never-the-less, apartment vacancies remained
PA GE F OU R

at a sub-5% seasonally adjusted level in last
year’s 4th quarter. Going forward, the forecast calls for 7,100 apartments in 1996.
Resale housing markets also recovered
in late 1995, jumping to a record annual
selling rate of 40,000 by year end. As with
new construction, resales are expected to
move lower as the year unfolds.
Consumer confidence, as measured in
a study by the Behavior Research Center in
an on-going study sponsored by Stockton
Capital Management of Scottsdale, remains
near its peak for this business cycle, with a
reading near 107 in the first quarter. But
with consumer debt at high levels and pentup demand pretty well satisfied, consumer
spending will moderate. Retail sales increased a strong 9.7% in 1995, but the pace
was slowing as 1995 ended. We project an
increase of five to six percent for all of
1996. Given the subdued rate of inflation –
2.5% or so – that’s a real gain of 2.5-3.5%.
Phoenix-Mesa’s population approached
2.6 million people in mid-1995, a gain of
4.2% from the prior year. A 3.2% increase
is expected for 1996, representing some
83,500 new residents.

Further slowing is expected for the Phoenix
economy in 1997. Job growth will recede
to 3.6%, personal income will grow by only
6.0%, and retail sales will slow into the three
to four percent range. Population will
increase by 2.8%. The following year, 1998,
promises more modestly-below-average
growth. (Exhibit 8). Still, these numbers
remain well above recession readings. The
outlook for the Metro Phoenix area, indeed,
remains bright. $
1 Blue Chip Job Growth Update, Economic Outlook Center, Arizona
State University, various issues.
2 U.S. Department of Commerce, Bureau of the Census, C-40 reports.

S P O N S O R S

Arizona Bank
Arizona Joint Legislative Budget
Committee
Arizona Public Service Company
Bank One of Arizona
City of Tucson Government
Estes Homebuilding Company
First Interstate Bank of Arizona
Pima County Government
Salt River Project
Tucson Electric Power Company
Tucson Newspapers
U S West Communications

ARIZONA'S ECONOMY

F O R E C A S T

T A B L E S

Forecasts for Arizona
Personal Income ($ mill)
percent change
Per Capita Personal Income
percent change
Aggregate Retail Sales ($ mill)*
percent change
Population (000s, mid-year)
percent change
Net Migration (000s)
Wage & Salary Employment (000s)
percent change
Goods-Producing
percent change
Construction
percent change
Manufacturing
percent change
Service-Providing
percent change
Trade (Wholesale & Retail)
percent change
Services
percent change

1994
78,049.8
8.7
19,169.1
5.6
35,108.8
10.8
4,071.6
3.0
87.2
1,693.4
6.8
310.5
11.8
108.3
21.5
190.3
7.9
1,382.9
5.7
416.9
7.0
484.7
7.6

1995
85,450.4
9.5
20,335.6
6.1
37,864.5
7.8
4,202.0
3.2
92.2
1,783.7
5.3
324.8
4.6
117.4
8.4
195.0
2.4
1,458.9
5.5
442.2
6.1
522.2
7.7

1996
91,563.8
7.2
21,169.6
4.1
40,294.6
6.4
4,325.2
2.9
78.1
1,850.8
3.8
334.2
2.9
122.1
4.0
199.2
2.2
1,516.6
4.0
457.7
3.5
550.2
5.4

1997
97,484.1
6.5
21,953.2
3.7
41,899.8
4.0
4,440.5
2.7
72.8
1,910.6
3.2
339.3
1.5
121.5
-0.5
204.9
2.8
1,571.3
3.6
470.5
2.8
580.5
5.5

1998
103,433.8
6.1
22,718.4
3.5
43,551.4
3.9
4,552.9
2.5
70.1
1,966.5
2.9
342.8
1.0
121.4
-0.1
208.5
1.8
1,623.6
3.3
482.0
2.4
611.2
5.3

Forecasts for Phoenix-Mesa Metro Area
Personal Income ($ mill)
percent change
Per Capita Personal Income
percent change
Aggregate Retail Sales ($ mill)*
percent change
Population (000s, mid-year)
percent change
Net Migration (000s)
Wage & Salary Employment (000s)
percent change
Goods-Producing
percent change
Construction
percent change
Manufacturing
percent change
Service-Providing
percent change
Trade (Wholesale & Retail)
percent change
Services
percent change

1994
52,028.9
9.6
20,910.9
6.6
22,892.6
12.5
2,488.1
2.8
44.6
1,142.5
6.8
226.0
12.2
74.6
22.3
146.7
8.0
916.5
5.6
280.4
7.0
335.9
8.6

1995
56,893.6
9.4
21,934.1
4.9
24,966.9
9.1
2,593.8
4.2
81.7
1,215.2
6.4
235.8
4.3
81.6
9.4
149.0
1.6
979.4
6.9
306.2
9.2
363.5
8.2

1996
60,974.0
7.2
22,773.7
3.8
26,445.3
5.9
2,677.4
3.2
58.5
1,264.9
4.1
244.3
3.6
83.7
2.6
155.4
4.3
1,020.6
4.2
318.9
4.2
384.3
5.7

1997
64,659.3
6.0
23,482.7
3.1
27,437.9
3.8
2,753.5
2.8
50.0
1,309.9
3.6
251.8
3.1
84.9
1.3
161.7
4.1
1,058.2
3.7
328.0
2.8
406.2
5.7

1998
68,582.6
6.1
24,257.9
3.3
28,503.1
3.9
2,827.2
2.7
46.6
1,348.4
2.9
255.2
1.4
84.8
-0.1
165.2
2.2
1,093.1
3.3
336.1
2.4
426.8
5.1

Forecasts for Tucson Metro Area
Personal Income ($ mill)
percent change
Per Capita Personal Income
percent change
Aggregate Retail Sales ($ mill)*
percent change
Population (000s, mid-year)
percent change
Net Migration (000s)
Wage & Salary Employment (000s)
percent change
Goods-Producing
percent change
Construction
percent change
Manufacturing
percent change
Service-Providing
percent change
Trade (Wholesale & Retail)
percent change
Services
percent change

1994
13,307.9
8.5
18,018.5
5.8
6,067.4
9.2
738.6
2.6
13.8
294.6
7.0
47.4
13.2
18.9
20.8
26.4
9.7
247.2
5.9
67.8
6.7
88.3
6.1

1995
14,236.6
7.0
18,729.7
3.9
6,302.3
3.9
760.1
2.9
16.5
301.9
2.5
49.5
4.5
19.7
4.3
27.6
4.5
252.4
2.1
69.0
1.7
92.0
4.2

1996
14,908.9
4.7
19,205.6
2.5
6,657.6
5.6
776.3
2.1
10.9
307.6
1.9
48.7
-1.6
19.4
-1.4
27.1
-1.8
258.9
2.6
70.3
1.9
95.8
4.1

1997
15,652.1
5.0
19,756.4
2.9
6,925.2
4.0
792.3
2.1
10.6
315.3
2.5
48.3
-0.8
19.0
-2.4
27.2
0.6
267.0
3.1
72.1
2.6
100.6
5.0

1998
16,576.5
5.9
20,470.9
3.6
7,207.1
4.1
809.8
2.2
12.0
324.3
2.9
48.9
1.2
19.2
1.0
27.7
1.5
275.4
3.1
74.1
2.8
105.7
5.1

* Aggregate Retail Sales includes retail, food, restaurant & bars and gasoline sales.
Source: Economic and Business Research Program, Karl Eller Graduate School of Management, College of Business and Public Administration, The University of Arizona

ARIZONA'S ECONOMY

PAGE FIVE

TABLE 1
When survey firms
were established

CHARACTERISTICS
OF ARIZONA’S
HIGH TECH INDUSTRY
Julie Leones, Ph.D.,
Department of Resource and Agricultural
Economics, College of Agriculture

I

n the February 1996 issue of this publication, the high technology
industry in Arizona was defined and its economic impact was assessed.
In this article, we summarize the results of a survey of high technology
firms.1 While the focus of the previous article was to determine the influence
of the high technology industry on Arizona’s economy, this article provides
insights into the nature of the industry, in terms of its organizational
structure, its research and development effort, its purchasing and selling
patterns, as well as the characteristics and payscale of its workers.

The high technology industry is characterized by a large number of young firms. Fiftyeight percent of the sample firms began
operations in Arizona in the past 15 years
(since 1980) and 52% of the sample firms
did not exist in any state or country prior to
1980 (Table 1). Despite their relatively
young age, 63% of the facilities described by
the survey firms had been located somewhere
other than their current location. Seventy
percent of the firms that relocated moved
from another location in Arizona (26% of
the firms did not indicate where they had
moved from). Seventy-one percent of the
PAGE SIX

12

13

3

3

3

3

9

9

1960's

13

14

8

8

1970's

17

18

20

21

1951-1959

October, 1995

INDUSTRY ORGANIZATION

%

Prior to 1951

Alberta Charney, Ph.D.,
Economic and Business Research, College
of Business and Public Administration

A total of 613 questionnaires were sent to
firms that met the definition of high technology that was outlined the February article.
The overall response rate for the survey was
15.7%. However, because of an 82% response
rate among the largest firms, a large share
(55%) of total industry employment is
captured in the survey. Most of the figures
in this article have been calculated by
weighting them by total employment in each
responding firm. The exception to this is
when figures on the number of firms are
reported. These have not been weighted by
employment and are presented as surveyed
firm results.

Number
Established

survey firms began in Arizona. These
predominantly smaller firms provided an
estimated 11% of total jobs in the industry.
Over two-thirds of the survey firms
operated out of a single location. Seventeen
percent had branch plants in Arizona but
headquarters located in another state. Six
percent were headquartered in Arizona but
had no other Arizona facilities and 8% had
both headquarters and other facilities in
Arizona. Of the 870 branches that the survey
firms operated, 13% are in Arizona, 53%
are in other states and 34% are in other
countries (Figure 1).
Several questions in the survey asked
firms to describe some of the relationships
within their business and between their
business and other businesses. One of the
first questions concerned where decisions
about hiring workers and purchasing inputs
were made. Overall, for those firms that had
more than one location, 23% indicated that
hiring decisions were made at the company
headquarters and 26% indicated that purchasing decisions were made at company
headquarters (Figure 2). Forty-two percent
and 35%, respectively, indicated that hiring
and purchasing decisions were made at
individual facilities or branch plants. A large
percentage (35% for hiring and 39% for
purchasing) of the firms indicated that these
decisions were made at both locations.

No. Established
in Arizona
%

1980's

35

38

41

43

1990-1994

13

14

14

15

Total

93

100%

95

100%

FIGURE 1
Location of Branch Facilities

TABLE 2
Firms involved in new forms
of business relations
Involved with Involved with
AZ firm
Non-AZ firm

Type of Relationship

(percentages)

Exclusive subcontractor to

16

19

Exclusive buyer of inputs

14

12

Key inputs available from
one seller

15

35

7

19

Product bundling with
Joint R&D ventures

20

32

Share development or
engineering resources

20

26

License technology to

10

21

Buy technology licenses from

9

Other

19
10%

Number of firms reporting

81

TABLE 3
Workers in R&D by
sector and firm size
All
Small Medium Large
Firms Firms Firms
Firms

Sector

(percentages of total workers)

Electronic components
and computers

17

11

13

18

Aerospace, instruments
and chemicals
22

16

7

25

High technology
services

22

24

30

NA

Total

20

15

18

20

ARIZONA'S ECONOMY

TABLE 4
R&D expenditures as a
percentage of total sales
Number of firms

Percent

Less than 1%

14

16

1-3%

13

15

4-5%

10

12

6-8%

12

14

9-12%

13

15

13-25%

15

17

9

11

Greater than 25%
Total

86

100%

TABLE 5
Expenditures by
high technology industry
Expenditure Category
Wages and benefits

4.360

40

Materials and supplies

3.635

33

Equipment

1.517

14

Buildings and land

0.307

3

State taxes

0.250

2

Utilities

0.215

2

Other1

0.702

6

Category

10.986

100%

Includes federal taxes, transfer payments, and other expenses.

Ten percent of all survey firms indicated
that the 14 large firms were among their five
largest input suppliers. However, on the other
side of the relationship, 31% of all survey
firms indicated that one or more of these
large firms was among their five largest
customers in terms of dollar value of sales.
FIGURE 2
Where purchasing and
hiring decisions are made
in multilocation firms

FIGURE 3
Sources of R&D funds

In
Arizona

Outside
Arizona

(percent)

Equipment

29

In
Arizona

Outside
Arizona

(billions of $)

71

0.440

1.077

Materials and
supplies

39

61

1.418

2.217

Other

33

67

0.232

0.470

Total1

60

40

6.592

4.394

1

1

A R IZ ON A 'S E CON OMY

% of Total

(in billions of $)

Total

A variety of business relationships exist
between high technology firms and other
firms. In addition, because high technology
industries use very sophisticated inputs that
are often custom-made for specific end
products, questions were asked about subcontracting and licensing agreements. The
responses of the sample firms are presented
in Table 2. Some of the most common
relationships are: a firm is purchasing key
inputs that are available from only one
seller who is located outside of Arizona;
the firm is involved in joint R&D ventures
with a firm outside of Arizona; or the
firm shares development or engineering
resources with a firm outside of Arizona.
Although the percentage of firms involved in
any one of these special relationships with
other firms is low, over two-thirds of the
firms were involved in one or more of these
affiliations. Those firms with special relationships with other firms were involved in
an average of four different types of alliances.
Another issue related to business relations
is the buyer-seller relationships within and
between high technology industry sectors.
For the sample firms, a large number of
these relationships existed between the
largest firms in the high technology sector
and all high technology firms. Overall, 48%
of the surveyed firms indicated that they
purchased inputs from one of 14 large firms.
Fifty-three percent indicated that they sell
to, or are input suppliers to, these 14 firms.
The 14 large firms listed on the survey were
Alcatel Information Systems, Allied Signal,
Bull Worldwide Information Systems,
Burr-Brown, Digital Equipment, IBM(Adstar),
Intel, AT&T Network Cable Systems,
McDonnell Douglas Helicopter Division,
MicroAge, Motorola, Honeywell, Hughes
Missile, and TRW Vehicle Safety Systems.

Amount

TABLE 6
Arizona expenditures
as a percentage of total
expenditures by category

Includes all expenses described in the previous table.
However, expenses occurred outside Arizona in only three
categories of expense.

The implications of this are that the largest
high technology firms, in addition to providing a large share of employment and value
added in the industry, are also important
purchasers of products from other high
technology firms in the state. While these
large firms are also suppliers of inputs to
almost half of all high technology firms in
Arizona, they are not among the five largest
suppliers to these firms.

RESEARCH AND DEVELOPMENT
Approximately 20% of all employees in
the high technology industry are believed
to work in research and development (R&D).
This varies somewhat by sector and by the
size of the firm, as evident in Table 3. In
particular, a high percentage of workers in
electronic components, computers and
computer software, and services are involved
in R&D. As might be expected, the share of
employees involved in R&D is larger for
large firms (with more than 1,000 employees)
than for medium and small sized firms
(Table 3). In the case of aerospace,
missiles, instruments and chemicals, small
firms had a higher percentage of employees
working in R&D than medium firms. In the
other sectors, small firms had the smallest
share of workers in R&D.
The median size of R&D expenditures as a
percentage of total sales is approximately
six to eight percent for the survey firms. The
distribution of firms according to their R&D
expenditures was similar for small firms
when compared to medium and large firms.
In particular, almost 28% of the responding
firms spent 13% or more of total sales on
R&D. On the other end of the spectrum,
16% spent less than one percent of total
sales on R&D (Table 4).
P AG E SE VE N

TABLE 7
Sales by destination
Sector

AZ

Sold to:
CA

Rest of
U.S.

Mexico

Japan

TABLE 9
Sales that are inputs
versus final products

Asia

Rest of
Europe

Other
Sector

(percentages)

Inputs

Final Products

Electronic components and computers

2

3

57

2

8

11

18

1

Aerospace, instruments and chemicals

7

4

57

2

3

7

12

8

Electronic components
& computers

78

31

1

50

0

1

7

9

2

Aerospace & missiles

34

66

7

3

56

2

5

9

14

4

Instruments

62

38

Chemicals

95

5

Computer software
& services

67

33

Research services

18

82

Total

45

55

High technology services
High technology industry TOTAL

TABLE 8
Destination of Arizona exports, by sector, 1993*
Chemicals
SIC-28

Fab. Metal
Prod. (incl
Ordnance)
SIC-34

Industrial
Mach (incl.
Computers)
SIC-35

Electronic
Equipment
SIC-36

Trans. Equip.
Aerospace Instruments
SIC-37
SIC-38

Electronic
Equipment &
Computers
SIC35+36

Aerospace,
Instruments
& Chemicals
OTHER

TOTAL

100

100

100

(percent distribution)

World

100

100

100

Canada

15

7

8

Mexico

33

77

29

100

100

100

5

7

11

6

8

6

10

32

6

14

32

17

Japan

18

1

6

14

1

5

12

3

11

EUROPE

21

6

33

26

25

55

28

28

28

Rest of ASIA

9

8

18

43

32

20

37

25

35

Other

3

1

6

2

3

3

3

3

3

World

SIC-28

SIC-34

SIC-35

SIC-36

(in millions of $)
SIC-37

SIC-38

SIC35+36

OTHER

TOTAL

78.9

247.6

831.4

3,224.1

1,160.0

426.4

4,055.6

1,912.8

9,945.1

Canada

12.1

16.0

66.2

173.6

77.1

47.0

239.7

152.3

619.6

Mexico

26.3

192.2

241.2

329.1

378.9

26.6

570.3

623.9

1,738.3

Japan

14.2

1.5

50.8

453.8

12.9

21.2

504.7

49.8

1,044.9

EUROPE

16.6

14.0

276.0

843.7

290.0

232.3

1,119.7

553.0

2,775.9

Rest of ASIA

7.0

20.9

143.8

1,373.1

369.6

85.2

1,516.9

482.7

3,509.4

Other

2.7

2.9

53.4

50.8

31.4

14.2

104.2

51.2

257.0

* Export data is only available at the two-digit SIC level. Only portions of all of these two-digit sectors (except 38) are high technology.

Source: Derived from the National Trade Data Base, University of Massachusetts, MISER Files

FIGURE 4
Sources of technology for high technology survey firms

(percentages)

22

Firms relied heavily on internal sources
of funds for their research. Eighty-seven
percent of all research funding for the
survey firms came from internal sources.
The next most significant source was the
U.S. Department of Defense which provided
approximately ten percent of funding for
research (Figure 3).
In addition to doing their own research,
companies have the option of acquiring
technology from other sources. Eighty-one
percent of the respondents indicated that
they rely on sources of technology within
the firm. However, 28% of the survey firms
indicated that they acquired technology from
private for-profit entities in Arizona and 20%
acquired technologies from universities or
research facilities (Figure 4). Small and
medium-sized firms tend to be less likely to
develop technology within the company than
are larger firms. Smaller firms also tend
to be more likely to acquire technologies
within Arizona rather than outside it.

EXPENDITURES
The estimated expenditures of high technology industry in several broad categories
are presented in Table 5. Some of the major
expenditures are on wages and benefits (40%
of total expenditures) and on materials and
supplies (33% of total expenditures). Smaller
expenditure categories include $250 million
paid in state taxes, $215 million spent on
utilities and $702 million in miscellaneous
spending. Of these total expenditures, 60%
or $6.592 billion were made in Arizona
(Table 6). The total materials and supplies
purchased in Arizona were valued at $1.418
billion in 1994. This represents approximately 39% of all materials and supplies
purchased by high technology firms.
PAGE EIGHT

ARIZONA'S ECONOMY

FIGURE 5
Distribution
of employment
by task or department

Informal
Formal
Purchasing
Subcontracts Agreements

MARKETING
High technology firms are important
contributors to international exports from
Arizona. High technology foreign exports
from Arizona were approximately $5.369
billion in 1994.2 This represents an estimated
63% of total foreign exports from the state.
Only approximately seven percent of total
sales in the high technology industry
remains in the state of Arizona. Other
important export markets are described
in Table 7. About 59% of total sales remain
in the U.S. in states other than Arizona. Of
the remaining 34% that is exported overseas,
14% is sent to Europe and 14% is exported
to Asia. These represent two of the largest
markets for high technology products from
Arizona. Japan alone is a market for roughly
five percent of total high technology exports
from Arizona. As might be expected, high
technology services sell a higher percentage
of their services within the United States, but
still have exports totaling 18% of total sales.
The electronic components and computers
sector is the most export-oriented with 38%
of total sales abroad.
Note that the export estimates based on
the survey differ somewhat from published
export data for Arizona. Table 8 presents
the destination of Arizona exports, by twoA R IZO N A' S E CO N OMY

Other

(percentages)

Electronic
components
& computers

Over the past five years, high technology
industry has spent an estimated $1.202
billion on construction. An estimated 17%
of all capital equipment in the industry was
purchased in the past one year, 56% was
purchased in the past five years and 87%
has been purchased in the last ten years.

FIGURE 6
Education and attainment
of high technology
industry employees

TABLE 10
Sales by type of
purchasing agreement

77

23

0

Aerospace &
missiles

94

0

6

Instruments

88

11

1

Chemicals

67

33

0

Computer software
& services

42

54

4

Research services

45

55

0

Total

78

20

2

digit sector for 1993. The percentages of
exports going to Mexico and the Rest of Asia
in Table 8 are substantially higher than the
percentages of exports going to these regions
as reported by survey firms and reported in
Table 7. The reason for this is that survey
firms reported distribution of the sale of
final products but Table 8 reports the value
of all shipments leaving the state for these

FOR THOSE FIRMS
THAT SOLD FINAL OR
FINISHED PRODUCTS TO THE
END USERS OF THAT PRODUCT,
ALMOST A QUARTER
WERE SOLD TO
THE U.S. DEPARTMENT OF DEFENSE

destinations. Thus, Table 8 includes shipments of components or intermediate goods
to Mexico and Rest of Asia that are destined
for further assembly, not for final sale. The
difference in the percentages of exports
reflect the maquiladora operations in
Mexico and off-shore assembly in parts of
Southeast Asia.
The percentage of total sales of inputs (or
components) versus final products varies
significantly by sector (Table 9). Research
services and aerospace and missiles tended
to have a larger percentage of sales in final

products. Overall, 45% of high technology
sales were of inputs or components and
55% were of final products.
For those firms that sold inputs or
components, 78% were sold based on
formal sub-contracts with the buying firms
(Table 10). The high technology service
sectors tended to rely more on informal
purchasing agreements (representing about
55-66% of their total sales) than on formal
subcontracts. Over 88% of total sales of
inputs or components were made to large
firms with more than 1,000 employees
(Table 11). Only high technology chemicals
and services tended to sell a large percentage
of their inputs/components to small and
medium-sized firms.
For those firms that sold final or finished
products to the end users of that product,
almost a quarter were sold to the U.S. Department of Defense (Table 12). Although this
percentage may be lower than if this survey
had been conducted ten years ago, it still
indicates a significant dependency on
defense contracts in Arizona’s high technology industry. See Table 13 for real defense
contracts in Arizona for various years from
1971 to 1992. The highest percentage of
sales of final products to the U.S. Military
are for high technology services, aerospace
and missiles, and electronic components
and computers. Clearly, the U.S. Department
of Defense is not only an important customer
for firms in aerospace and missiles, but
also for other producers of high technology
products and services.
Almost two-thirds of the value of all high
technology products and services are custommade for the buyer. Virtually all products
PAGE NI NE

TABLE 11
Sales of inputs by size
of purchasing firm

TABLE 12
Sales of final products
by type of customer

Small firms Medium firms Large firms
(less than 100 (101 to 1,000 (over 1,000
workers)
workers)
workers)
(percentages)

Electronic
components
& computers

2

9

Aerospace &
missiles

0

Instruments
Chemicals

US Military
Department
of Defense

Non-military
federal
All other
agencies
customers

Year

(percentages)

1992

2,055,509

1991

2,731,774

(in thousands)

89

27

2

71

3,360,500

99

Aerospace &
missiles

1985

1

29

1

70

1979

1,440,179

2

5

93

Instruments

11

4

85

1975

1,699,664

24

27

49

Chemicals

0

1

99

1974

1,535,688

Computer software
& services

55

36

9

1

2

97

24

4

72

1

78

Research services 20

24

56

Research services

8

88

Total

4

FIGURE 7
Employment in high technology
industries by occupation

in the aerospace and missiles sector are
custom-made (Table 14).
In addition, sales in the high technology
industry are fairly concentrated. On average,
almost one-fourth of a high technology firm’s
sales are to its largest customer. Almost half
of all the firm’s sales are to its five largest
customers (Table 15). Thus, the major
buyers of high technology products and
services have significant bargaining power.

EMPLOYMENT
Direct employment in the high technology
industry as defined here was approximately
95,099 in 1994. The high technology industry
PAGE TEN

Contract Awards
Real $ 1994

Electronic
components
& computers

Computer software
& services
21

Total

TABLE 13
Arizona prime
contract awards

is a high-wage employer in Arizona, with an
average payroll of $38,896 per employee.
Not surprisingly, the industry is a major
employer of engineers, scientists, computer
specialists and professionals (Figure 7).
Over a quarter of all doctoral scientists and
engineers estimated to work in the state of
Arizona are employed in the high
technology industry.3
Over a third of the high technology workers
have a four year college degree or higher
(Figure 6). A large percentage of the work
force is involved in research and development as mentioned earlier (Figure 5).
Approximately 20-25% of the total high technology work force is involved in research

Derived from: U.S. Department of Defense, Prime Contract
Awards; Balancing the Books: Military Spending in
Arizona by Nina Mohit; and The Rise of Military-Industrial
Spending in Arizona 1970-1972 by David A. Tansik and
R. Bruce Billings.

and development work. However, over half
of all employees in the high technology
industry have at most a high school degree.
Per employee wages and salaries by
occupation are presented in Table 16.
Several of the largest high technology firms
did not provide information on this question,
hence, it reflects more of the average pay
per employee for small and medium-sized
firms. Drawing on secondary data sources,
the average payroll per employee for all
industries in Arizona in 1992 was $21,925
(1992 County Business Patterns). The
average payroll per employee for the high
technology industry was $38,376 per
employee in 1992. Estimated 1994 high
technology payroll per employee was $38,896
in 1994. Our survey results indicate wages
and salaries per employee of $37,000.
Clearly, the high technology industry provides high wages to its employees compared
to other industries in Arizona.
Several of the largest high technology
firms in Arizona are noted for their employee
training programs. Motorola is especially
well known for its employee education and
training programs. High technology firms
spend an average of $900 per employee
on training each year. Fifty-three percent
of this was spent on in-house training. Total
employee training expenditures by high technology firms were estimated at $86 million
in 1994. The highest training expenditure is
for in-house or on-the-job training. For 12%
of the firms responding to this question, it
was the only type of training indicated. The
next highest expenditure for training was
generally for sending employees to seminars,
meetings and workshops. The third and
AR I ZO NA 'S EC ONO M Y

TABLE 14
Sales in custom versus
standard products/services

Sector

Custom made
for the
buying firm

Standardized
product

(percentages)

Electronic
components
& computers

55

45

Aerospace &
missiles

100

0

Instruments

81

19

Chemicals

71

29

Computer software
& services

26

74

Research services

32

68

Total

66

34

TABLE 16
Payroll per employee
by occupation
Occupation

Payroll per
Employee
($)

Executives and managers

57,220

Professionals (lawyers, accountants, etc.)

46,351

Engineers, scientists and mathematicians

50,759

Computer programmers, specialists
and analysts

46,268

Sales representatives

24,750

Skilled workers (mechanics, craftsmen
and machinists)

28,477

Production workers (assemblers,
fabricators, operators)

28,168

Unskilled workers (material handlers,
laborers)

14,825

Clerical workers

32,492

All workers

37,000

fourth highest expenditures were for providing incentives/support for employees to
complete additional course work or degrees
and to bring in consultants to train employees.

CONCLUSION
In this article, numerous characteristics
of Arizona’s high technology industry are
described and measured. Several of the
survey results have significant implications
for Arizona’s economy. Since the high technology industry is an extremely important
sector in our economy, it’s continued
growth and stability is critical to the health
of Arizona’s economy. Arizona’s economy
is closely tied to the international
competitiveness of our high technology
ARIZONA'S ECONOMY

TABLE 15
Sales to largest customers

Sector

Sales to largest
Sales to five
customer
largest customers
(average percentages)

Electronic
components
& computers

21

46

Aerospace
& missiles

36

57

Instruments & chemicals

18

52

Computer software
& services

31

40

Research services

12

22

Total

24

49

firms because approximately one-third
of final sales of this industry is in foreign
exports. The survey results also document
the degree of the high technology industry’s
dependency on the defense industry. The
U.S. Department of Defense purchases
approximately one quarter of the industry’s
final sales and also plays an important role
in funding research and development.
Although there is some evidence that
Arizona’s dependency on defense has
declined in recent years, the state continues
to have risk associated with federal defense
cuts. The study found strong ties among
high technology firms and between high
technology firms and other sectors in the
economy. The survey also found significantly
higher levels of in-state purchases than were
found in previous studies of Arizona and a
wider variety of relationships among high
technology firms.$

THE GROWTH OF
HIGH TECHNOLOGY
IN ARIZONA
WILL BE THE SUBJECT
IN THE NEXT ISSUE OF
ARIZONA’S ECONOMY

The growth of high technology in Arizona
will be the subject in the next issue of
Arizona’s Economy.
1 Copies of the complete study are available from the authors,
from Frank Plencner at the Arizona Department of Commerce,
GSPED office (602)280-1499, and from the Internet at
http://ag.arizona.edu/AREC/arechome.html. The study was
sponsored by The Governor’s Arizona Science and Technology
Council and The Governor’s Strategic Partnership for Economic
Development. Funds to support the project came from the following
companies: Arizona Electronics Association; Apollo Group, Inc.;
Arizona Public Service Company; Hughes Missile Systems; Intel
Corporation; Inter-Tel, Inc.; Lansdale Semiconductor, Inc.;
MechTronics of Arizona, Inc.; Medtronic Micro-Rel, Inc.; Meyer,
Hendricks, Victor, Osborn, and Maledon; MicroAge, Inc.; Motorola,
Inc.; Pillar Financial; Quarles and Brady; SGS - Thompson
Microelectronics, Inc.; Simula, Inc.; Snell and Wilmer; Tally Defense
Systems; Three-Five Systems, Inc.; Tiffany & Hoffman; and Tucson
Electric Power.
2 This estimate is based on the University of Massachusetts MISER
files and information fro the Arizona Department of Commerce,
International Trade Office, not on information from the survey.
3 Based on National Science Foundation figures on doctoral scientists
and engineers in Arizona in 1991 and survey data.

PAGE ELEVEN

A R I Z O N A

YUMA METROPOLITAN REGION
Civilian Labor Force, ADES
Employment
Unemployment
Unemployment Rate (%)
Employees on Nonagricultural Payrolls, ADES
Total
Mining
Construction
Manufacturing
Trans., Comm. & Publ. Util.
Trade
Finance, Ins. & Real Estate
Services
Government
Sales ($000s) ADOR
Gross Retail
Retail
Restaurants & Bar
Gasoline, EBR
Gallons (000s) ADOT
Contracting
Value of Construction Contract Awards ($000s) F.W. Dodge
Total
Residential Building
Non-Residential Building
Non-Building
Number of Dwelling Units Awarded, F.W. Dodge
Total
One Family Houses
MOHAVE-LA PAZ REGION
Civilian Labor Force, ADES
Employment
Unemployment
Unemployment Rate (%)
Employees on Nonagricultural Payrolls, ADES
Total
Mining
Construction
Manufacturing
Trans., Comm. & Publ. Util.
Trade
Finance, Ins. & Real Estate
Services
Government
Sales ($000s) ADOR
Gross Retail
Retail
Restaurants & Bar
Gasoline, EBR
Gallons (000s) ADOT
Contracting
Value of Construction Contract Awards ($000s) F.W. Dodge
Total
Residential Building
Non-Residential Building
Non-Building
Number of Dwelling Units Awarded, F.W. Dodge
Total
One Family Houses

E C O N O M I C

I N D I C A T O R S

% change versus year ago for:
most
most
recent
recent
month
12-months

NOV
95

DEC
95

JAN
96

FEB
96

MAR
96

63,760
48,944
14,816
23.2

61,116
49,060
12,056
19.7

59,825
48,000
11,825
19.8

59,950
49,800
10,150
16.9

57,275
46,800
10,475
18.3

-6.9
-3.1
-20.7
-14.8

1.9
8.2
-11.3
-13.7

37,400
0
1,700
1,400
1,800
12,700
1,200
8,900
9,700

37,800
0
1,700
1,400
1,900
13,000
1,200
8,900
9,700

37,100
0
1,700
1,400
1,800
12,300
1,200
9,200
9,500

37,000
0
1,600
1,400
1,800
12,200
1,200
9,300
9,500

37,100
0
1,600
1,400
1,800
12,200
1,200
9,400
9,500

0.8
...
-5.9
0.0
0.0
-2.4
-7.7
8.0
1.1

6.5
...
-5.2
-13.6
10.8
6.2
-1.4
12.6
7.9

71,682
59,502
6,486
5,694
5,387
8,268

93,028
76,606
9,335
7,087
6,336
10,173

73,724
57,585
8,460
7,679
6,737
9,719

75,789
58,426
9,637
7,726
6,765
9,498

...
...
...
...
...
...

-0.4
-3.8
11.9
13.9
14.6
10.4

4.1
4.3
2.4
4.4
4.3
-3.8

7,807
4,276
2,584
947

22,484
3,737
15,652
3,095

14,625
3,622
3,569
7,434

10,323
4,525
1,874
3,924

7,672
6,034
798
840

-24.9
30.5
-13.1
-82.0

17.9
-0.5
44.4
17.4

55
55

52
52

46
46

65
65

87
72

42.6
18.0

1.5
0.1

67,647
63,144
4,503
6.7

67,032
62,584
4,448
6.6

66,900
62,025
4,875
7.3

67,025
62,050
4,975
7.4

67,975
63,150
4,825
7.1

9.1
9.5
4.1
-4.5

9.2
11.4
-14.4
-21.6

38,200
200
2,700
3,700
2,000
11,500
1,500
9,200
7,400

37,800
200
2,700
3,700
2,000
11,500
1,400
8,900
7,400

37,900
200
2,700
3,700
2,000
11,300
1,400
9,100
7,500

37,800
200
2,600
3,700
2,000
11,000
1,500
9,300
7,500

37,700
200
2,600
3,500
2,000
11,200
1,500
9,400
7,300

0.8
0.0
-13.3
-2.8
11.1
0.9
-6.3
4.4
2.8

5.3
71.4
-1.8
3.7
13.8
4.2
-11.8
5.2
12.3

73,153
55,986
9,141
8,026
7,593
12,516

88,065
68,517
10,119
9,429
8,430
14,823

78,626
54,220
10,533
13,873
12,170
11,764

81,033
58,334
11,697
11,002
9,633
15,613

...
...
...
...
...
...

8.0
1.9
10.1
53.6
54.7
16.5

7.2
5.7
7.1
16.2
15.4
-7.7

13,873
9,271
3,079
1,523

11,654
8,709
681
2,264

16,953
9,076
2,372
5,505

25,804
9,201
547
16,056

14,886
11,455
1,194
2,237

-29.0
-13.5
-62.9
-50.2

-14.1
-19.4
-38.6
39.6

121
117

110
108

102
102

111
111

133
133

-13.6
-10.1

-18.9
-18.1

See notes at bottom of Arizona - Quarterly table.
PAGE TWELVE

ARIZONA'S ECONOMY

A R I Z O N A

COCHISE-SANTA CRUZ REGION
Civilian Labor Force, ADES
Employment
Unemployment
Unemployment Rate (%)
Employees on Nonagricultural Payrolls, ADES
Total
Mining
Construction
Manufacturing
Trans., Comm. & Publ. Util.
Trade
Finance, Ins. & Real Estate
Services
Government
Sales ($000s) ADOR
Gross Retail
Retail
Restaurants & Bar
Gasoline, EBR
Gallons (000s) ADOT
Contracting
Value of Construction Contract Awards ($000s) F.W. Dodge
Total
Residential Building
Non-Residential Building
Non-Building
Number of Dwelling Units Awarded, F.W. Dodge
Total
One Family Houses
GILA-GRAHAM-GREENLEE REGION
Civilian Labor Force, ADES
Employment
Unemployment
Unemployment Rate (%)
Employees on Nonagricultural Payrolls, ADES
Total
Mining
Construction
Manufacturing
Trans., Comm. & Publ. Util.
Trade
Finance, Ins. & Real Estate
Services
Government
Sales ($000s) ADOR
Gross Retail
Retail
Restaurants & Bar
Gasoline, EBR
Gallons (000s) ADOT
Contracting
Value of Construction Contract Awards ($000s) F.W. Dodge
Total
Residential Building
Non-Residential Building
Non-Building
Number of Dwelling Units Awarded, F.W. Dodge
Total
One Family Houses

E C O N O M I C

I N D I C A T O R S

% change versus year ago for:
most
most
recent
recent
month
12-months

NOV
95

DEC
95

JAN
96

FEB
96

MAR
96

58,204
51,789
6,415
11.0

57,099
50,830
6,269
11.0

57,350
50,325
7,025
12.2

57,400
50,775
6,625
11.5

56,850
50,700
6,150
10.8

3.1
3.6
-0.8
-3.8

4.1
5.9
-7.3
-11.1

42,000
100
2,000
2,100
2,200
11,200
900
9,200
14,300

41,700
100
2,000
2,100
2,300
11,300
900
8,800
14,200

41,600
0
2,000
2,100
2,300
11,300
900
8,800
14,200

41,700
0
2,000
2,100
2,300
11,100
900
8,900
14,400

41,900
0
2,000
2,100
2,300
11,000
900
9,100
14,500

4.0
-100.0
5.3
5.0
4.5
-5.2
-10.0
7.1
11.5

3.4
-25.0
8.2
2.5
2.3
-2.5
-6.6
8.2
6.3

56,724
44,972
7,245
4,507
4,263
9,518

73,632
58,832
8,588
6,212
5,554
13,090

57,296
41,759
8,032
7,505
6,584
9,206

58,234
44,486
7,850
5,898
5,165
10,024

...
...
...
...
...
...

-4.5
-6.1
-4.6
9.1
9.8
-11.2

-5.1
-7.1
-0.1
4.7
4.1
7.3

9,381
8,849
391
141

5,100
4,676
100
324

7,841
5,683
908
1,250

20,238
19,669
220
349

19,388
13,341
1,498
4,549

10.4
104.1
3.1
-52.5

-29.7
35.8
-73.8
-60.0

108
108

60
60

72
72

63
63

112
112

12.0
12.0

19.0
1.1

35,982
33,430
2,552
7.1

35,697
33,165
2,532
7.1

35,750
32,725
3,025
8.5

35,750
32,875
2,875
8.0

35,325
32,575
2,750
7.8

5.7
6.5
-3.6
-8.8

9.0
10.3
-4.6
-12.5

25,800
2,800
1,700
1,900
800
5,600
600
5,100
7,300

26,000
2,800
1,700
2,000
800
5,600
600
5,100
7,400

25,700
2,800
1,800
2,000
800
5,400
500
5,100
7,300

25,600
2,800
1,800
2,000
800
5,300
500
5,100
7,300

25,800
2,800
1,700
2,000
800
5,300
500
5,100
7,600

7.5
3.7
0.0
11.1
14.3
-3.6
-16.7
24.4
10.1

8.8
-9.0
10.1
5.0
4.4
5.5
13.3
22.6
12.2

36,349
28,725
4,610
3,014
2,851
9,497

42,805
34,384
4,713
3,708
3,315
9,413

34,497
26,588
4,487
3,422
3,002
9,107

32,916
24,685
4,604
3,627
3,176
8,707

...
...
...
...
...
...

19.8
21.7
7.1
25.5
26.4
6.0

9.3
9.9
6.5
8.1
7.4
-1.7

8,182
3,228
740
4,214

3,915
2,937
75
903

9,107
2,753
882
5,472

5,447
3,099
143
2,205

6,476
4,248
962
1,266

39.8
111.2
...
-51.7

5.6
15.9
-29.1
27.1

38
36

31
31

35
35

34
34

46
46

70.4
70.4

16.5
2.3

See notes at bottom of Arizona - Quarterly table.
AR IZ ON A 'S ECON O MY

PAGE THIRTEEN

A R I Z O N A

APACHE-NAVAJO REGION
Civilian Labor Force, ADES
Employment
Unemployment
Unemployment Rate (%)
Employees on Nonagricultural Payrolls, ADES
Total
Mining
Construction
Manufacturing
Trans., Comm. & Publ. Util.
Trade
Finance, Ins. & Real Estate
Services
Government
Sales ($000s) ADOR
Gross Retail
Retail
Restaurants & Bar
Gasoline, EBR
Gallons (000s) ADOT
Contracting
Value of Construction Contract Awards ($000s) F.W. Dodge
Total
Residential Building
Non-Residential Building
Non-Building
Number of Dwelling Units Awarded, F.W. Dodge
Total
One Family Houses
COCONINO-YAVAPAI REGION
Civilian Labor Force, ADES
Employment
Unemployment
Unemployment Rate (%)
Employees on Nonagricultural Payrolls, ADES
Total
Mining
Construction
Manufacturing
Trans., Comm. & Publ. Util.
Trade
Finance, Ins. & Real Estate
Services
Government
Sales ($000s) ADOR
Gross Retail
Retail
Restaurants & Bar
Gasoline, EBR
Gallons (000s) ADOT
Contracting
Value of Construction Contract Awards ($000s) F.W. Dodge
Total
Residential Building
Non-Residential Building
Non-Building
Number of Dwelling Units Awarded, F.W. Dodge
Total
One Family Houses

E C O N O M I C

I N D I C A T O R S

% change versus year ago for:
most
most
recent
recent
month
12-months

NOV
95

DEC
95

JAN
96

FEB
96

MAR
96

49,905
43,694
6,211
12.4

50,299
43,643
6,656
13.2

50,750
42,750
8,000
15.8

50,675
42,850
7,825
15.4

50,200
42,400
7,800
15.5

2.2
2.0
3.7
1.4

3.9
5.0
-1.4
-5.2

40,300
1,000
1,600
1,700
2,900
6,900
1,400
11,100
13,700

40,700
1,000
1,700
1,700
2,900
6,800
1,400
11,200
14,000

39,800
900
1,700
1,700
2,800
6,600
1,400
10,700
14,000

40,300
900
1,700
1,700
2,900
6,700
1,400
10,800
14,200

40,500
900
1,700
1,700
2,900
6,700
1,500
10,900
14,200

3.6
-10.0
13.3
0.0
3.6
1.5
7.1
1.9
6.0

2.2
-2.5
2.1
-11.1
0.3
1.6
16.6
1.2
4.7

49,473
39,126
3,856
6,491
6,140
7,858

57,507
45,772
4,494
7,241
6,474
7,702

48,906
38,023
3,740
7,143
6,266
7,348

46,396
35,807
3,970
6,619
5,796
6,130

...
...
...
...
...
...

-85.4
-88.4
3.3
13.0
13.8
12.3

-27.9
-33.9
6.3
2.3
1.5
14.2

2,989
2,003
925
61

18,595
1,535
7,692
9,368

3,593
1,510
210
1,873

14,436
1,832
9,175
3,429

5,820
2,485
2,000
1,335

-62.6
-19.9
-59.1
-82.4

-14.6
6.8
-38.5
-3.5

28
28

18
18

20
20

23
23

28
28

-12.5
-12.5

32.5
44.2

122,008
115,593
6,415
5.3

120,281
113,617
6,664
5.5

118,075
110,200
7,875
6.7

115,600
107,925
7,675
6.6

116,500
109,375
7,125
6.1

0.8
1.1
-3.8
-4.6

6.6
7.9
-9.6
-15.2

91,400
900
5,900
5,600
2,900
25,100
2,400
23,400
25,200

91,000
900
5,800
5,600
2,900
24,800
2,400
23,100
25,500

86,900
900
5,900
5,600
2,800
23,600
2,400
22,600
23,100

88,900
900
5,900
5,400
2,800
23,700
2,400
22,600
25,200

90,000
900
6,200
5,500
2,900
23,900
2,300
23,100
25,200

2.6
0.0
6.9
-8.3
0.0
2.6
-11.5
1.3
7.7

3.6
2.9
2.4
-4.2
-1.1
2.8
-5.2
3.8
8.5

139,081
104,738
22,125
12,218
11,558
32,084

162,157
125,945
23,353
12,859
11,497
33,883

125,899
93,488
21,379
11,032
9,678
31,167

128,194
92,404
22,951
12,839
11,242
34,255

...
...
...
...
...
...

7.7
5.3
17.3
9.5
10.2
15.7

8.1
7.7
10.4
7.0
6.2
8.3

55,262
21,718
32,529
1,015

24,036
18,922
1,667
3,447

22,697
17,079
3,732
1,886

65,826
19,920
5,982
39,924

42,760
24,452
12,480
5,828

-9.1
-25.1
62.2
-12.9

6.0
-20.6
103.7
41.0

247
181

172
152

163
147

188
168

224
214

-37.6
-4.0

-18.3
-20.7

See notes at bottom of Arizona - Quarterly table.
PAGE FOURTEEN

ARIZONA'S ECONOMY

A R I Z O N A

E C O N O M I C

PHOENIX-MESA METROPOLITAN REGION (MARICOPA AND PINAL)
Civilian Labor Force (000s) ADES
Employment
Unemployment
Unemployment Rate, Seas. Adj. (%)
Employees on Nonagricultural Payrolls (000s) ADES
Total
Mining
Construction
Manufacturing
Durable
Nondurable
Trans., Comm. & Publ. Util.
Trade
Wholesale
Retail
Finance, Ins. & Real Estate
Services
Government
Sales ($000s) ADOR
Aggregate Retail Sales
Retail
Food, EBR
Restaurants & Bars
Gasoline, EBR
Contracting
Value of Construction Contract Awards ($000s) F.W. Dodge
Total Awards
Residential Building
Non-Residential Building
Non-Building
New Housing Units Authorized, Census C-40
Total Units
Single Family Units
2-4 Unit Structures
5-plus Unit Structures
Housing Sales and Prices, ARMLS
Total Sales ($000s)
Total Units
Average Price ($)
Phoenix Skyharbor International Airport, PSIA
Total Passengers
Total Aircraft Movements

I N D I C A T O R S

NOV
95

DEC
95

JAN
96

FEB
96

MAR
96

1,385.7
1,344.8
40.9
3.1

1,381.6
1,341.6
39.9
3.0

1,361.3
1,315.5
45.8
3.3

1,372.7
1,328.6
44.1
3.3

1,375.0
1,331.7
43.3
3.3

3.7
4.0
-5.3
-8.3

7.0
8.1
-18.4
-24.0

1,249.8
5.2
84.9
150.5
113.5
37.0
64.2
317.4
75.1
242.3
87.4
371.5
168.7

1,261.3
5.2
85.2
151.1
114.1
37.0
64.8
323.7
75.7
248.0
87.8
357.0
168.5

1,240.4
5.2
84.5
151.3
114.6
36.7
63.3
313.1
75.8
237.3
87.7
374.8
160.5

1,261.0
5.2
86.8
152.6
115.7
36.9
63.6
314.5
76.8
237.7
88.2
381.6
168.5

1,269.2
5.2
85.8
152.8
115.9
36.9
64.0
318.2
78.0
240.2
88.3
385.2
169.7

4.4
2.0
5.9
4.6
5.7
1.1
0.5
4.4
6.7
3.7
2.0
5.6
3.4

5.4
4.9
7.7
1.8
2.7
-1.0
0.4
7.8
8.9
7.4
-1.6
6.4
6.4

2,107,773
1,481,790
288,542
235,236
102,205
397,126

2,669,320
1,991,094
290,996
274,076
113,154
478,816

2,132,979
1,462,110
293,728
270,309
106,832
386,325

2,158,201
1,469,582
295,854
278,747
114,019
415,439

...
...
...
...
...
...

12.3
8.7
7.4
11.0
159.8
20.6

10.0
9.8
11.2
9.4
11.9
10.1

537,538
287,510
197,002
53,026

566,054
268,748
274,335
22,971

407,270
294,849
72,071
40,350

511,573
276,175
110,758
124,640

599,631
434,192
103,893
61,546

17.9
39.6
-38.2
108.6

9.5
0.7
15.6
54.7

2,992
2,200
59
733

3,443
2,276
60
1,107

3,367
2,235
45
1,087

4,341
2,374
32
1,935

3,954
3,071
16
867

5.6
24.3
73.3
28.7

17.6
14.8
38.5
26.2

352,118
2,886
122,009

388,316
3,181
122,074

331,251
2,576
128,591

310,847
2,514
123,646

465,604
3,795
122,689

24.2
35.7
-8.5

19.0
12.6
5.4

2,325,232
32,466

2,417,088
34,978

2,325,621
35,148

2,480,939
33,044

2,920,143
36,070

13.7
-20.4

10.2
-13.4

PHOENIX-MESA METROPOLITAN REGION (MARICOPA AND PINAL) - QUARTERLY DATA

Demographics & Vital Statistics (000s, seas adj) ADHS & EBR
Population
Natural Increase
Births
Deaths
Net Migration
Personal Income by Source ($mil, SAAR) EBR
Total Personal Income
Earnings by Place of Work
Less: Contributions for Social Insurance
Plus: Adjustment for Residence
Plus: Dividends, Interest & Rents
Plus: Transfer Payments
Per Capita Personal Income ($, SAAR) EBR

% change versus year ago for:
most
most
recent
recent
month
12-months

% change versus year ago for:
most
most
recent
recent
quarter
4-quarters

I
95

II
95

III
95

IV
95

I
96

2,557.1
5.9
10.9
5.0
20.8

2,582.2
6.0
11.0
5.1
19.2

2,604.5
6.0
11.1
5.1
16.3

2,625.3
6.1
11.2
5.1
14.7

2,646.1
6.2
11.3
5.1
14.7

3.5
3.9
3.3
2.7
-29.3

3.9
3.0
3.0
3.0
-15.7

55,270
39,936
2,439
-31
9,259
8,544
21,614

56,396
40,685
2,479
-31
9,479
8,742
21,840

57,460
41,423
2,520
-31
9,669
8,919
22,062

58,449
42,154
2,560
-31
9,821
9,065
22,264

59,444
42,893
2,602
-31
9,975
9,209
22,465

7.6
7.4
6.7
0.1
7.7
7.8
3.9

8.7
8.1
7.2
-1.5
10.6
9.2
4.7

See notes at bottom of Arizona - Quarterly table
AR IZ ON A 'S ECON O MY

PAGE FIFTEEN

A R I Z O N A

E C O N O M I C

TUCSON METROPOLITAN REGION (PIMA)
Civilian Labor Force (000s) ADES
Employment
Unemployment
Unemployment Rate, Seas. Adj. (%)
Employees on Nonagricultural Payrolls (000s) ADES
Total
Mining
Construction
Manufacturing
Durable
Nondurable
Trans., Comm. & Publ. Util.
Trade
Wholesale
Retail
Finance, Ins. & Real Estate
Services
Government
Sales ($000s) ADOR
Aggregate Retail Sales
Retail
Food, EBR
Restaurants & Bars
Gasoline, EBR
Contracting
Value of Construction Contract Awards ($000s) F.W. Dodge
Total Awards
Residential Building
Non-Residential Building
Non-Building
New Housing Units Authorized, Census C-40
Total Units
Single Family Units
2-4 Unit Structures
5-plus Unit Structures
Housing Sales and Prices, TAR
Total Sales ($000s)
Total Units
Average Price ($)
Tucson International Airport, TAA
Total Passengers
Total Aircraft Movements

I N D I C A T O R S

MAR
96

NOV
95

DEC
95

JAN
96

FEB
96

377.6
366.2
11.4
3.3

375.9
364.8
11.1
3.2

370.7
358.2
12.5
3.3

372.2
360.1
12.1
3.4

373.0
360.6
12.4
3.5

1.3
1.3
0.6
-2.8

3.6
4.2
-11.5
-15.1

306.9
2.2
20.0
27.5
22.2
5.3
13.6
70.1
9.9
60.2
11.7
93.1
68.7

309.4
2.3
20.4
27.7
22.5
5.2
13.8
71.0
9.9
61.1
11.9
93.2
69.1

304.7
2.3
19.9
27.4
22.3
5.1
13.8
70.0
10.3
59.7
12.0
93.0
66.3

309.0
2.3
19.8
27.5
22.3
5.2
13.7
70.2
10.3
59.9
12.0
93.7
69.8

310.5
2.3
19.7
27.6
22.4
5.2
13.6
70.4
10.5
59.9
12.1
94.3
70.5

1.7
9.5
1.5
0.7
0.9
0.0
0.7
2.3
6.1
1.7
1.7
1.0
2.3

1.6
9.3
2.9
2.3
3.7
-3.2
2.8
1.0
1.2
1.0
-4.6
2.5
0.8

516,617
350,545
79,069
57,846
29,157
92,237

667,115
485,999
79,742
68,045
33,329
97,911

512,841
345,108
79,117
61,709
26,907
84,443

528,987
347,058
79,689
69,367
32,873
81,331

...
...
...
...
...
...

8.4
5.7
5.6
6.5
71.9
6.8

4.6
4.0
7.1
4.2
7.5
8.8

115,141
64,946
45,198
4,997

55,123
36,405
13,892
4,826

68,420
42,957
14,988
10,475

97,219
54,554
27,739
14,926

112,393
72,359
31,947
8,087

37.5
43.5
88.4
-43.7

-7.8
-21.0
18.0
37.1

373
371
2
0

354
212
13
129

577
403
6
168

397
395
2
0

...
...
...
...

-51.5
23.4
0.0
-100.0

-27.9
-26.3
-50.0
-30.2

72,498
604
120,030

76,907
629
122,269

72,125
612
117,851

70,909
545
130,109

...
...
...

22.4
5.8
15.6

-3.7
-7.3
3.8

289,081
20,775

291,833
20,494

283,183
22,389

312,477
20,117

349,205
22,421

4.6
1.8

4.9
-0.5

TUCSON METROPOLITAN REGION (PIMA) - QUARTERLY DATA

Demographics & Vital Statistics (000s, seas adj) ADHS & EBR
Population
Natural Increase
Births
Deaths
Net Migration
Personal Income by Source ($mil, SAAR) EBR
Total Personal Income
Earnings by Place of Work
Less: Contributions for Social Insurance
Plus: Adjustment for Residence
Plus: Dividends, Interest & Rents
Plus: Transfer Payments
Per Capita Personal Income ($, SAAR) EBR

% change versus year ago for:
most
most
recent
recent
month
12-months

% change versus year ago for:
most
most
recent
recent
quarter
4-quarters

I
95

II
95

III
95

IV
95

I
96

752.7
1.2
2.9
1.6
4.2

757.7
1.3
2.9
1.6
3.7

762.1
1.3
2.9
1.7
3.1

766.1
1.3
3.0
1.7
2.8

770.2
1.3
3.0
1.7
2.8

2.3
6.6
4.2
2.5
-34.8

2.6
7.0
4.2
2.1
-26.7

13,965
8,764
544
139
2,796
2,811
18,553

14,157
8,846
550
140
2,854
2,866
18,684

14,332
8,932
557
142
2,897
2,919
18,807

14,492
9,028
565
144
2,919
2,966
18,916

14,657
9,129
573
147
2,941
3,012
19,030

5.0
4.2
5.3
5.8
5.2
7.2
2.6

6.2
4.8
5.9
6.8
9.0
7.9
3.5

See notes at bottom of Arizona - Quarterly table
PA GE S IX TE EN

ARIZONA'S ECONOMY

A R I Z O N A

ARIZONA MONTHLY DATA
Civilian Labor Force (000s) ADES
Employment
Unemployment
Unemployment Rate, Seas. Adj. (%)
Employees on Nonagricultural Payrolls (000s) ADES
Total
Mining
Construction
Manufacturing
Durable
Nondurable
Trans., Comm. & Publ. Util.
Transportation
Trade
Wholesale
Retail
Finance, Ins. & Real Estate
Services
Government
Federal
State & Local
Schools
Hours Worked Per Week, Manufacturing, ADES
Average Hourly Earnings ($) ADES
Copper Mining
Construction
Manufacturing
Utilities
Retail Trade
Wholesale Trade
Sales ($000s) ADOR
Aggregate Retail Sales
Retail
Food, EBR
Restaurants & Bars
Gasoline, EBR
Gallons (000s) ADOT
Utilities
Communications
Amusements
Rentals - Real Property
Rentals - Personal Property
Contracting
Mining - Metal, Oil & Gas
Hotel/Motel
Value of Construction Contract Awards ($000s) F.W. Dodge
Total Awards
Residential Building
Non-Residential Building
Non-Building
New Housing Units Authorized, Census C-40
Total Units
Single Family Units
2-4 Unit Structures
5-plus Unit Structures
Bankruptcy Filings, U.S. Bankruptcy Court
Total
Chapter 7
Chapter 11
Chapter 13

E C O N O M I C

I N D I C A T O R S

% change versus year ago for:
most
most
recent
recent
month
12-months

NOV
95

DEC
95

JAN
96

FEB
96

MAR
96

2,160.8
2,067.6
93.3
4.6

2,149.0
2,059.3
89.7
4.6

2,120.7
2,019.8
100.9
4.8

2,131.4
2,035.0
96.4
4.9

2,132.1
2,037.3
94.8
4.9

2.9
3.3
-5.1
-7.5

6.1
7.4
-13.6
-18.8

1,829.5
12.4
120.4
194.4
147.2
47.2
91.3
54.6
461.3
95.5
365.8
107.3
531.5
310.9
43.9
267.0
160.6
42.1

1,843.8
12.4
121.2
195.3
148.1
47.2
92.3
55.0
468.5
96.6
371.9
107.8
534.3
312.0
45.0
267.0
161.5
42.2

1,811.9
12.4
119.9
195.3
148.2
47.1
90.9
54.1
454.0
96.0
358.0
107.2
532.0
300.2
44.3
255.9
150.0
43.1

1,839.5
12.4
121.7
196.4
149.2
47.2
91.3
54.4
455.5
96.9
358.6
107.6
541.2
313.4
44.3
269.1
163.3
42.8

1,852.6
12.5
120.6
196.5
149.2
47.3
92.0
54.8
460.5
97.7
362.8
107.8
547.7
315.0
44.3
270.7
165.2
...

3.7
2.5
4.0
3.4
4.0
1.3
2.0
2.6
3.6
3.7
3.6
0.8
5.1
3.3
3.5
3.2
3.1
1.4

4.5
1.8
6.0
1.5
2.3
-0.7
1.4
2.0
6.0
7.7
5.6
-2.0
6.0
4.7
2.9
5.0
5.8
-1.3

16.71
12.38
11.57
16.70
10.27
12.02

16.45
12.50
11.39
17.02
10.35
11.94

16.63
12.75
11.21
17.89
10.09
12.86

16.54
12.30
11.31
17.36
10.36
14.03

...
...
...
...
...
...

1.3
0.6
0.4
5.1
-2.3
20.1

2.3
2.0
1.4
-4.5
6.4
5.9

3,148,938
2,165,384
465,698
346,545
171,311
162,058
306,746
122,147
32,349
270,721
174,830
569,104
168,602
97,801

3,952,549
2,887,149
469,659
402,723
193,018
172,568
322,194
125,288
6,252
278,691
187,479
665,811
133,955
91,725

3,168,096
2,118,881
476,172
388,649
184,394
161,764
358,302
108,654
43,933
275,383
187,526
549,079
158,115
134,278

3,213,849
2,130,782
479,618
408,823
194,626
170,411
323,992
127,701
46,159
251,946
161,102
580,997
120,215
167,252

...
...
...
...
...
...
...
...
...
...
...
...
...
...

0.9
-5.9
7.9
10.1
89.2
90.4
1.8
9.9
-11.0
-6.8
-22.8
16.9
-18.9
12.8

7.1
6.6
7.7
8.1
10.0
9.5
0.6
13.8
-17.7
19.3
11.1
8.7
14.7
10.3

750,198
401,801
282,448
65,949

706,961
345,669
314,094
47,198

550,506
377,529
98,732
74,245

750,866
388,975
156,438
205,453

809,026
568,566
154,772
85,688

14.5
34.2
-23.8
7.8

4.7
-4.3
13.1
37.3

4,004
3,171
90
743

4,323
2,897
129
1,297

4,422
3,053
69
1,300

5,302
3,167
57
2,078

5,153
4,101
50
1,002

6.5
20.8
-58
-24.3

9.8
7.4
-11.5
22.1

1,384
1,050
32
302

1,272
952
14
306

1,333
970
27
336

1,827
1,207
52
568

1,529
1,155
25
349

15.3
18.8
-3.8
6.4

17.8
17.9
-31.0
24.5

See notes at bottom of Arizona - Quarterly table.
ARIZONA'S ECONOMY

PAGE SE VE N TEE N

A R I Z O N A

E C O N O M I C

ARIZONA - QUARTERLY DATA
Demographics & Vital Statistics (000s, seas adj) ADHS & EBR
Population
Natural Increase
Births
Deaths
Net Migration
Personal Income Derivation ($mil, SAAR) EBR
Total Personal Income
Earnings by Place of Work
Less: Contributions for Social Insurance
Plus: Adjustment for Residence
Plus: Dividends, Interest & Rents
Plus: Transfer Payments
Components of Earnings ($mil, SAAR) BEA
Wages and Salaries
Other Labor Income
Proprietor’s Income
Farm
Nonfarm
Per Capita Personal Income ($, SAAR) EBR
Average Wage Per Employee, Annual Rate ($) E
Measures of Financial Institutions
Banks and S&Ls Combined ($mil) ASBD
Assets
Loans
Liabilities
Deposits
Equity Capital
Capital:Asset Ratio (%)

I N D I C A T O R S

% change versus year ago for:
most
most
recent
recent
quarter
4-quarters

I
95

II
95

III
95

IV
95

I
96

4,153.0
9.5
17.5
8.0
23.9

4,185.9
8.4
17.3
8.9
23.8

4,218.2
9.5
18.4
8.9
22.8

4,249.9
9.4
18.4
9.0
21.7

4,280.6
9.7
18.6
8.9
20.5

3.1
2.7
6.4
10.9
-14.5

3.2
-0.3
2.6
5.8
-1.7

83,638
57,800
3,665
275
14,376
14,853

84,298
57,846
3,650
278
14,690
15,135

86,133
59,142
3,697
285
15,005
15,397

87,732
60,198
3,731
292
15,373
15,599

89,364
61,399
3,821
297
15,510
15,980

6.8
6.2
4.3
8.1
7.9
7.6

8.4
7.4
5.7
6.7
11.5
8.6

47,055
5,246
5,436
342
5,094
20,139
26,059

47,337
5,302
5,397
281
5,117
20,139
26,130

...
...
...
...
...
20,420
...

...
...
...
...
...
20,643
...

...
...
...
...
...
20,877
...

9.0
10.5
3.7
-29.0
6.4
3.7
3.2

10.0
11.3
4.1
-33.8
8.0
5.1
3.1

35,317
21,928
32,503
30,942
2,814
9.0

36,478
22,372
33,600
31,482
2,878
8.8

36,463
22,340
33,490
30,752
2,974
9.1

38,527
23,303
35,558
32,546
2,969
8.6

...
...
...
...
...
...

9.8
8.5
9.6
5.8
13.1
NA

1.6
5.3
1.9
2.4
-1.9
NA

MEASURES OF INFLATION AND PRICES

Consumer Price Index (1982-84=100) ASU & BLS
Metropolitan Phoenix
Western Region (U.S.)
U.S. - All Urban Consumers
U.S. - Urban Wage Earners
Price Indexes (1992=100) BEA
Gross Domestic Product
Personal Consumption Expenditures

I
96

I
95

II
95

III
95

IV
95

155.9
152.8
150.9
148.3

157.9
153.6
152.2
149.6

160.0
154.1
152.9
150.2

161.3
154.3
153.6
150.9

162.9
156.4
155.0
152.3

4.5
2.4
2.7
2.7

4.8
2.5
2.8
2.8

106.7
106.8

107.3
107.5

108.0
108.0

108.4
108.9

109.0
109.5

2.2
2.5

2.5
2.5

MEASURES OF INFLATION AND PRICES - MONTHLY DATA

Consumer Price Index (1982-1984=100) BLS
U.S. - All Urban
U.S. - Wage Earners
Sources and abbreviations:
ADES: Arizona Department of Economic Security
ADHS: Arizona Department of Health Services
ADOR: Arizona Department of Revenue
ADOT: Arizona Department of Transportation
ARMLS: Arizona Regional Multiple Listing Service
ASBD: Arizona State Banking Department
ASPB: Arizona State Parks Board
ASU: Arizona State University, College of Business,
Research Centers
PAGE EIGHTEEN

% change versus year ago for:
most
most
recent
recent
quarter
4-quarters

NOV
95

DEC
95

JAN
96

FEB
96

MAR
96

153.6
150.9

153.5
150.9

154.4
151.7

154.9
152.2

155.7
152.9

BEA: Bureau of Economic Analysis, U.S. Department
of Commerce
BLS: Bureau of Labor Statistics, U.S. Department of Labor
Census C-40, Bureau of the Census, U.S. Department
of Commerce
EBR: Economic & Business Research Program,
The University of Arizona
F.W. Dodge, Division of McGraw Hill Information Systems
Co. (proprietary data provided by special permission)
NPS: National Park Service, U.S. Department of the Interior

% change versus year ago for:
most
most
recent
recent
month
12-months
2.8
2.8

2.8
2.8

NSCCC: Nogales-Santa Cruz Chamber of Commerce
PSIA: Phoenix Skyharbor International Airport
SAAR: Seasonally adjusted at annual rates
TAA: Tucson Airport Authority
TAR: Tucson Association of Realtors
USINS: U.S. Immigration & Naturalization Service,
U.S. Department of Justice
U.S. Bankruptcy Court, District of Arizona
USCS: U.S. Customs Service, U.S. Department
of the Treasury
ARIZONA'S ECONOMY

A R I Z O N A

E C O N O M I C

I N D I C A T O R S

TRAVEL AND TOURISM - MONTHLY DATA
OCT
95

NOV
95

DEC
95

JAN
96

% change versus year ago for:
most
most
recent
recent
month
12-months

FEB
96

Visits to Parks & Other Recreational Areas, ADOT, NPS & ASPB
Northern Arizona
Historical
Scenic
Water Based Recreation
Southern Arizona
Historical
Scenic
Water Based Recreation

1,713,753
182,260
575,109
956,384
214,560
41,205
140,134
33,221

1,305,463
121,499
259,539
924,425
205,969
46,299
138,683
20,987

718,799
51,627
204,572
462,600
167,332
34,848
120,265
12,219

1,087,177
76,814
208,660
801,703
258,038
56,911
179,251
21,876

1,024,680
130,862
246,649
647,169
400,015
92,873
272,078
35,064

-4.7
16.7
-1.1
-9.3
0.3
8.2
-3.6
13.3

-1.0
2.5
4.2
-4.0
2.2
-2.7
3.1
5.0

International Border Crossings, USINS & USCS
U.S. Citizens
Aliens
Vehicles

676,425
1,921,193
722,014

718,081
2,062,580
744,889

701,767
1,972,537
...

664,778
1,867,159
...

...
...
...

0.5
0.2
-11.7

-22.4
-5.6
-12.3

See notes at bottom of Arizona - Quarterly table.

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ARIZONA'S ECONOMY

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PAGE NINETEEN