Economic Outlook 2020
10:30 a.m. to Noon Dec. 4, 2020
This virtual event is offered free of charge.
A Huge Shock Followed by an Uncertain Recovery
Driven by COVID-19 pandemic, Arizona jobs, income and sales experienced a dizzying drop from February to April. Travel and tourism, health care, professional and business services and retail trade were hit hard, but the housing sector remained surprisingly robust. The economic recovery began in May and was rapid at first, propelled in part by federal funds flowing from the CARES Act. As the pandemic dragged on through the summer, the recovery slowed significantly.
Arizona Nonfarm Payroll Jobs, Seasonally Adjusted
There is still a huge amount of uncertainty about the future of the outbreak and the pace of the recovery. What industries will recover the fastest? How fast will the hardest hit sectors recover? What are the long-term economic consequences of the pandemic? Will Arizona experience a major increase in migrants from other states, as remote workers seek lower housing costs? What are the implications of the Federal Reserve’s recent shift in policy guidance? How will the stock market fare in the recovery?
Be sure to register and attend to learn the answers to these critical questions!
George W. Hammond, director and research professor, Economic and Business Research Center, brings a wealth of experience in state and local econometric forecasting and regional economic analysis, as well as wide-ranging academic research interests to bear on his role as director of the Eller College’s Economic and Business Research Center. A specialist in econometric forecasting for more than 20 years, he has designed, built and used economic models to produce more than 100 forecasts for state and local economies, and completed more than 50 regional economic studies on topics including economic and workforce development, energy forecasting and the impact of higher education on human capital accumulation.
Anthony Chan joined JPMorgan in mid-1994 and retired in May 2019. During his tenure, Dr. Chan addressed over one hundred thousand clients each year and delivered presentations to many Central Banks around the world. Dr. Chan is often in media outlets such as The Wall Street Journal, Barron’s, The New York Times, The Washington Post, The Chicago Tribune, The Los Angeles Times, and Investor’s Business Daily. He appears regularly in the following media outlets: CNBC, CNN International, Fox Business News and CGTN, Chinese Television. Currently, Dr. Chan is a member of the prestigious Blue-Chip Monthly Forecasting panel, as well as the following other forecasting panels.
This year the Eller College Annual Economic Outlook is made possible through the generosity of JPMorgan Chase.
Additionally, JPMorgan Chase provides support for the award-winning website ebr.eller.arizona.edu, the premier source for information on Arizona’s economy. There you will find measures of the economy’s performance, analysis by the Eller College Economic and Business Research Center, and links to important studies.
View our award-winning Arizona’s Economy magazine at azeconomy.eller.arizona.edu.
Visit the award-winning MAP Dashboard at mapazdashboard.arizona.edu for the latest indicators on Southern Arizona.
Visit azmex.eller.arizona.edu for the latest Arizona-Mexico economic indicators.
Download Arizona’s Economy smartphone app at the App store and Google Play to track the state economy in real time.