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ASU professors say Arizona economy poised to recover jobs

Posted at 11:55 AM, May 07, 2021
and last updated 2021-05-07 14:55:44-04

PHOENIX (AP) — Arizona State University forecasters say the state’s economy is rebounding and poised in coming months to recover all the jobs lost in 2020 due to the pandemic recession.

In the words of ASU economics professor Dennis Hoffman, “the forecasts are clear — it’s really onward and upward from here.” The Arizona Republic reports that Hoffman was among professors who spoke Thursday during a webinar for the Economic Club of Phoenix.

Lee McPheters, another economic professor, said continuing population gains and improving business conditions mean Arizona could gain about 117,000 net jobs this year and 89,000 next year. That would put the state's employment back at pre-pandemic levels.