Home values in Phoenix rose by 6 percent in 2017. File photo
The Greater Phoenix Chamber of Commerce and its corporate partners recently hosted a forum with financial experts to discuss the metropolitan area's growing economy.
The meeting featured Sean McCarthy of Wells Fargo and Tom Sullivan from the U.S. Chamber of Commerce.
McCarthy highlighted developments in real estate, employment and wage growth for Greater Phoenix and the Southwest. Among the data he shared is that home values in Phoenix rose by 6 percent in 2017; the unemployment rate is 4.1 percent, the labor participation rate is 63 percent and climbing; and wage growth last year was 2.9 percent.
Both McCarthy and Sullivan emphasized the role that small businesses play in the area's economic growth. The outlook continues to be positive for these entities, which contribute approximately $8.5 trillion annually to the area economy.
The chamber will host its next Economic Outlook forum on Sept. 25. For details, contact Miranda Cain-Morton at firstname.lastname@example.org.
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