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The cost of AZ’s budget crisis: 1,450 full-time state workers
Arizona's budget calamity cost at least 1,450 state workers their jobs last fiscal year, but the shedding of public employees is minor compared to losses endured by the private sector in Arizona. An analysis conducted by the Arizona Capitol Times shows the state trimmed roughly 4 percent of its full-time staff from July 1, 2008, to June 30, 2009. The state now employs 33,236 full-time workers.
Bar convention offers free help for pink-slipped legal eagles
Lawyers have not been spared the pain of job loss in a moribund economy. Million-dollar partners have been let go by big New York City law firms. In Arizona, law firms have downsized by shedding associates, says Maria Bahr, director of lawyer assistance at the State Bar of Arizona.
Arizona unemployment rate for May hits 8.2 percent
Arizona's unemployment rate jumped by a half-percentage point in May as nearly all the state's economic sectors recorded job losses and many people left temporary positions in business and government, the Commerce Department reported June 18.
Lawmakers eye pension fund for research cash
Lawmakers are trying to tap the state's main retirement system for public employees to replace state funding for research projects meant to help spur economic development.
Tracking the recession: Investors buying up new state-issued bonds
State finance officials are uttering a new acronym in this year of TARP (Troubled Asset Relief Program) and ARRA (American Recovery and Reinvestment Act). It’s BAB, short for Build America Bonds, or taxable municipal debt issued by state and local governments that is partially subsidized by the federal government.
Greater Phoenix Chamber announces new leadership
Success in difficult economic conditions, revenue growth, a healthy business environment and regional competitiveness will be the focus of the Greater Phoenix Chamber of Commerce's new leadership team and board members.
Budget shortfall blamed on overspending, tax cuts
Rapid increases in government spending, permanent tax cuts for individuals and woefully inadequate levels of savings have put Arizona on a treacherous financial path during the past 15 years. Now, lawmakers are trying to detangle the state’s twisted finances and unwind one of the biggest budget knots in state history.
Forecast: Arizona will lose tens of thousands of jobs before recovery
A state forecast predicts that Arizona will lose tens of thousands of jobs in construction, trade and professional and business services for 2009 and 2010. Overall, the state can expect 160,000 fewer jobs during that period, though the rate of job losses is predicted to slow in 2010, according to a state Department of Commerce report released April 30.
Recession impact mixed in lobbying community
No matter how bad the economy gets, some goods and services are so vital that demand never drops. For some, apparently, lobbying is among the privileged few.
