High-Frequency Update: 5-3-26

Arizona initial claims for unemployment insurance fell to 3,652 for the week ended April 25, down from 4,115 the prior week. That was down 21.7% over the year and down 31.1% from 2019.

U.S. weekly initial claims for unemployment insurance dropped to 179,765 for the week ended April 26, down from 206,433 the prior week. That was down 19.8% over the year and down 12.2% from 2019.

The U.S. hotel occupancy rate rose to 67.7% for the week ended April 25, up from 66.5% the prior week. That was up 4.0% over the year but down 1.7% from 2019.

U.S. movie box office sales spiked to $200.4 million for the week ended April 30, up from $124.3 million the prior week. That was up 1.0% over the year but down 62.6% from 2019. New movie releases were down 51.2% from 2019.

U.S. TSA traveler throughput ticked up to 17.3 million for the week ended April 25, up from 17.2 million the prior week. That was down 2.5% over the year but up 4.8% from 2019.

Weekly data on Arizona new business applications continue to be published by the Census Bureau, but only on a monthly basis. Weekly data for March ranged from 820 to 870. Overall, new business applications remain strong, compared to pre-pandemic levels, but have weakened compared to 2023.

Data on seated diners at restaurants using the OpenTable app is no longer being updated to compare the current week to 2019 results.

As of October 15, 2022, Google stopped updating mobility data.

Key News Articles and Research (subscription may be required)

Curated by Valorie Rice, Senior Business Information Specialist

Arizona and general topics: Phoenix consumer confidence inches up while most metros slide (PBJ 4/20)
Automation / AI: Artificial intelligence, productivity, and the workforce: evidence from corporate executives (FRBA 3/25)
Demographic / socioeconomic / Census: An immigration slowdown led to widespread declines in population growth in America’s major metro areas (Brookings 4/21)
Federal statistics: States are innovating on labor market data. The feds could, too (Brookings 4/21)
Economy: Why diesel has become a much bigger economic problem than gasoline (NYT 4/23)
Education / early childhood development: Groups spend millions to shape Arizona school voucher reform (KJZZ 4/20)
Energy / environment / infrastructure:  Arizona water cuts loom as Colorado River negotiations put farms at risk (AZPM 4/21)
Housing / real estate: Arizona bill tackles home affordability (ADS 4/20)
Mexico/trade: Businesses race to apply for tariff refunds (NPR 4/20)
Prices/inflation: Arizona businesses are facing strain as gas prices surge (KJZZ 4/20)
Public finance: Drastic cuts avoided in Tucson’s recommended budget for next year (AZPM 4/22)
Wages/income/wealth: Job search, job amenities, and the gender pay gap (FRBC)
Workforce/employment/labor market: The U.S. labor market: a long-run perspective (FRBC)