Mon Sep 16 15:53:07 UTC 2024: ## Arizona Economy Remains Strong Despite Recession Fears
**Phoenix, AZ** – Despite growing concerns about a potential recession, Arizona’s economy is expected to remain robust, according to experts. While the Federal Reserve prepares to lower interest rates for the first time in four years, Arizona is projected to outperform the nation, fueled by ongoing investments and job growth.
“While the possibility of a recession exists, the odds are low,” stated Steve Wyett, Chief Investment Strategist at BOK Financial, at a recent Phoenix Greater Chamber of Commerce event. He highlighted Arizona’s strong recovery from the COVID-19 pandemic, adding that the state is poised for continued growth.
New research from the University of Arizona predicts job growth in Arizona of 2.1% in 2025 and 1.9% in 2026, albeit a slight slowdown from the 2.3% and 2.6% growth seen in 2022 and 2023 respectively. While the unemployment rate is projected to rise from 3.6% this year to 4.4% in 2026, this is attributed to employers slowing down hiring rather than widespread job losses.
Despite these minor adjustments, Arizona’s economic outlook remains positive, with experts highlighting the state’s strong fundamentals and ongoing investment in major projects. This sustained growth is expected to solidify Arizona’s position as a leading economic hub in the region.
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