For Star subscribers: The average hourly wage in Arizona is up 5.7% from the same time last year, as employers work attract job seekers.
Howard Fischer Capitol Media Services Arizona still has far more job openings than people employers are able to hire.
Walls said that demand for workers that exceeds those looking for jobs is forcing employers here to"be more competitive in order to attract that talent." At the same time, though, there are potential headwinds to that trend, led by the fact that the cost of living in Arizona, as measured by the consumer price index in Phoenix, is higher than the national average. It is up by 9.5% in the past year, compared with 6.5% for the rest of the country.
The median listing price of a home in Arizona had topped $520,000 early last year. Since then there has been a steady decrease, dropping to $462,500 in November and by another more than $9,000 last month.As recently as last summer, the typical home in Arizona was on the market for just 24 days before being snapped up. That hit 59 days in November — and 71 days in December, a figure not seen since 2017.
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