The Arizona Auditor General has found that “compared to fiscal year 2012, Pima County’s economic condition improved slightly based on some measures, but unemployment remains a concern.” The Arizona Auditor General’s finding was made in the Comprehensive Annual Financial Report for the Pima County Community College District.
As the Pima County Administrator Chuck Huckelberry, under the direction of the County Board of Supervisors, sues the area’s largest private employer, and continues to the attempt to block the Rosemont Mine from opening, “figures from the Office of Employment and Population Statistics (ADOA), indicate that as of June 30, 2013, 418,920 persons were employed in the County, down from 426,831 in June of 2012.”
The audit also noted that “according to the University of Arizona’s Economic and Business Research Center at the Eller College of Management, in their July 2013 Summer issue of Arizona’s Economy, the TMSA (Tucson Metropolitan Statistical Area) has replaced only 36.1% of the jobs lost during the Great Recession.”
Report findings:
Figures from the Economic & Business Research Center, Eller College of Management, the University of Arizona indicate that retail sales increased by 4.5 percent, signifying some improvement. According to June 2013 data published by the Tucson Association of Realtors, housing unit sales increased by 10.2 percent and the average price of units sold increased by 12.4 percent producing an overall increase in the total dollar volume of housing sales of 23.9 percent.
During the fiscal year 2014, the County’s economy is projected to improve slightly in the areas of personal income, retail sales, and employment. Historically, when economic conditions are improving, enrollment in community colleges decreases. The College experienced decreased enrollment of 11.4 percent for fiscal year 2013 and enrollment for the fall 2013 term is currently down from the prior year by 8.7 percent.
The County’s population is projected to increase by 0.8% from 2012 to 2013 according to the ADOA, and their published forecasts show slight population gains of 1.0 percent and 1.4 percent projected for 2014 and 2015 respectively. In addition, according to forecasts of Arizona’s economy, personal income is expected to increase by 6.0 percent, and retail sales are expected to increase 4.1 percent in 2014.