Message of the Week
Friday, April 7, 2006
Dear Friends,
Three years ago, when I took office, Arizona was in trouble-we had a billion dollar deficit and a sputtering economy. But today, we are doing extraordinarily well. The most recent U.S. Census Bureau survey found that between 2000 and 2004, Arizona's population increased by 12%, while the U.S. Department of Labor reports that the number of jobs from February 2005 to February 2006 has increased by 5.2%, and unemployment numbers are down. That means our state is strong, has a booming economy and a productive population.
This week, I received a report that shows Arizona's economy is one of the best in the nation. That report, released by State Policy Reports (SPR), compiles and compares data for every state. SPR covers every angle in its report, from economic momentum, to job creation, to personal income. In nearly every category, Arizona is at the top.
Arizona ranks number one in personal income growth. Not only did we exceed the national average, our personal incomes rose higher than any other state; in the last year, personal incomes increased by 8.63%.
Arizona ranks number two in economic momentum. Economic momentum measures the economy as a whole and considers three factors: personal income growth, employment growth, and population growth. In short, economic momentum measures how well we're doing. Our state is 3.34% above the national average.
Arizona ranks number two in employment growth at 5.1%. The national average was only 1.6% in the past year. This means that most people who relocate to our state will quickly find jobs. In 2003, we had a long way to go toward economic success. Now, we can proudly say that Arizona has a powerful economy that is prepared to handle future bumps in the road. However, we cannot be content. I will continue to work hard and plan for our future: investing in our children and ensuring that Arizona continues to attract global and technological investment.
As always, I appreciate your input, and encourage you to call my office at 602.542.1318 if you have questions or thoughts to share. Or, please visit our website at http://www.azgovernor.gov for information and news in state government.
Yours very truly,
Janet Napolitano
Governor
Please encourage your friends and family to sign up for my Message of the Week at http://www.azgovernor.gov
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