Business leader says Phoenix area’s 2021 economic outlook is positive

PHOENIX – The president and CEO of the Greater Phoenix Economic Council says he’s optimistic there will be full recovery this year of the jobs lost in the area during the pandemic.

Of the 214,000 jobs in the Valley lost in 2020 because of the coronavirus, about 170,000 have been recovered, almost 80 percent, Chris Camacho told KTAR News 92.3 FM on Monday.

“We do expect 2021 through the end of the fourth quarter to bring full job recovery that will actually outpace the 2019 numbers. So I’m optimistic,” he said.

“The challenge will be some unevenness. Sectors like retail, hospitality [and] Main Street small business will still slowly recover as consumer confidence comes back and individuals are able to get back in public and spend money in traditional ways,” he said.

Arizona Gov. Doug Ducey’s virus mitigation efforts have included limiting capacity for indoor dining, movie theaters and gyms and implementing curfews.

“There are 245 companies evaluating the greater Phoenix region for investment,” Camacho said, “and we’re eager to work with the Legislature and Governor’s Office and our peer organizations … to support recovery.

“So again, very optimistic about 2021,” he said.

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