ARIZONA NEWS

Economic consultant doesn’t think Ducey’s Nike deal will cause damage

Jul 5, 2019, 1:10 PM | Updated: 5:01 pm

Arizona Governor Doug Ducey talks to reporters after meeting with President Donald Trump at the Whi...

Arizona Governor Doug Ducey talks to reporters after meeting with President Donald Trump at the White House April 03, 2019 (Photo by Chip Somodevilla/Getty Images)

(Photo by Chip Somodevilla/Getty Images)

PHOENIX — The Labor Department released its jobs report for June which proved to be far better than expected. Approximately 224,000 jobs were added, only 165,000 were projected.

Jim Rounds, a local economic consultant, told Arizona Morning News on KTAR News 92.3 FM Friday the number of jobs added to the national workforce is right on the sweet spot.

“You’re still going to see the economy eventually slow but unfortunately a lot of people react to one month worth of data,” he said. “We had a weak month last time around, now we’ve created between 200,000 and 300,000 jobs which is the target range I’m looking for right now in the business cycle.”

Rounds said economics in Arizona are doing just as well and may continue to thrive with some minor adjustments.

“All the fundamentals are in place for beating the rest of the country over the entire 2020s as well,” he said. “We’re already top five in most economic categories. Where we need to improve a little bit is instead of volume of jobs, we need to continue to shift into the higher wage jobs, which we started, but we’re only on the front end.

“I’m more bullish than I ever have been.”

His projections for the future of Arizona’s economy and job market play a big part in why he’s neutral on Governor Doug Ducey’s decision to pull $1 million in incentives away from Nike’s plans in Goodyear.

The decision came after the company decided to not release a patriotic shoe after backlash from former NFL quarterback Colin Kaepernick. Rounds believes the decision should have been based solely on the economics but doesn’t think the move will cause harm to the states economy.

“I’m torn,” he said. “On the one hand you want to make these decisions purely on some of the math. What kind of jobs are coming in and are they high-wage jobs? On the other hand we want to be very careful with handing out incentives and maybe with this particular deal even though it was very politically oriented rather than just pure economic.

“It might make people take a look at some of the economic development deals. We can still be proactive in attracting business but we can also be careful. So in the end it may end up being a good thing but for the economy I’d say it was neutral.”

Rounds believes the picture for Arizona and Greater Phoenix is a shift to being a top-tier economic community over the next decade.

Array

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

A boy is seen playing in a splash pad at Riverview Park in Mesa on June 5, 2024. An excessive heat ...

Kevin Stone

Excessive heat warning issued for metro Phoenix as temperatures rise

With temperatures on the rise, authorities have issued an excessive heat warning for metro Phoenix.

1 hour ago

Passengers walk at Victoria train station in London amid reports of a global technology outage affe...

KTAR.com

Global technology outage impacts metro Phoenix emergency services, travel

Metro Phoenix emergency services and travel systems were impacted by a global technology outage early Friday.

2 hours ago

Electricity lines...

Bailey Leasure

SRP reaches deal with Aypa Power on new energy project in Mesa

SRP and Aypa Power have reached an agreement to provide a new energy storage system to Mesa, which is expected to be completed by 2026.

5 hours ago

Center Court Pickleball Club, an indoor pickleball court, is set to open a new location in Glendale...

Bailey Leasure

Center Court Pickleball Club set to open new location in Glendale

Center Court Pickleball Club is set to open its new indoor Pickleball location in Glendale this September.

5 hours ago

Arkansas man was sentenced to 14 years, Arizona prosecutors say...

KTAR.com

Arkansas man lands in prison after traveling to Phoenix intending to have sex with minor

An Arkansas man was sentenced to prison last week due to trying to have sex with a minor from Phoenix, prosecutors announced on Thursday.

5 hours ago

Since Arizona ranks second-to-last in the number of lawyers per capita, its Supreme Court created a...

KTAR.com

Arizona court system implements apprentice program to address lawyer shortage

Since Arizona ranks second-to-last in the number of lawyers per capita, its Supreme Court created a new program to help fill the void.

5 hours ago

Sponsored Articles

...

Sanderson Ford

3 storylines to get you revved up for the 2024 Arizona Cardinals

Arizona Cardinals training camp is just a couple weeks away starting on July 25, and Sanderson Ford is revved up and ready to go.

...

Condor Airlines

Condor Airlines can get you smoothly from Phoenix to Frankfurt on new A330-900neo airplane

Adventure Awaits! And there's no better way to experience the vacation of your dreams than traveling with Condor Airlines.

...

COLLINS COMFORT MASTERS

Here are 5 things Arizona residents need to know about their HVAC system

It's warming back up in the Valley, which means it's time to think about your air conditioning system's preparedness for summer.

Economic consultant doesn’t think Ducey’s Nike deal will cause damage