TEMPE, Ariz. — Some experts said Arizona’s economy is two years away from a
full recovery from the recession.
Arizona State University hosted its annual Economic Outlook meeting Thursday.
Economists said Arizona was hit earlier and harder by the economic crisis than
other states four years ago and it’s taking longer to come back.
Research Professor Lee McPheters, director of the JPMorgan Chase Economic
Outlook Center at the W. P. Carey School of Business at ASU, said Arizona has only regained 56 percent of its nearly 313,000 lost jobs.
Meanwhile, the country overall has already regained 99 percent of the jobs
lost in the recession.
McPheters said the state has seen a comeback in some areas but
construction, manufacturing, government and retail jobs still have a long way to