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State economists say Arizona on modest growth track

State economists say Ariz. on modest growth track

(AP Photo/Rick Bowmer)

State economists’ forecasts for job growth in Arizona are improved compared with their projections from six months ago.

The Department of Administration’s Office of Employment and Population Statistics predicts a total employment growth of 112,000 jobs in 2012 and 2013. That compares with a May forecast for an increase of just under 106,000 jobs during the same two-year period.

The office says that amounts to modest economic growth, with nearly all sectors expected to increase employment.

The half-year forecast adds that there risks that could add uncertainty. Those include continued weakness in real estate, rising food and petroleum prices, a potential military conflict in the Persian Gulf and Europe’s public debt crisis.

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