High-Frequency Update: 6-14-26
Hotel occupancy yet to see much boost from the World Cup
Arizona initial claims for unemployment insurance rebounded to 3,281 for the week ended June 6, up from 2,831 the prior week. That was down 20.6% over the year and down 29.7% from 2019.
U.S. weekly initial claims for unemployment insurance jumped to 228,276 for the week ended June 6, up from 188,563 the prior week. That was down 6.4% over the year but up 3.7% from 2019.
The U.S. hotel occupancy rate bounced back to 67.9% for the week ended June 6, up from 62.2% the prior week. That was up 1.3% over the year but still down 5.7% from 2019.
U.S. movie box office sales slid to $258.6 million for the week ended June 11, down from $268.8 million the prior week. That was up 60.5% over the year and up 7.0% from 2019. New movie releases were down 56.9% from 2019.
U.S. TSA traveler throughput climbed to 18.0 million for the week ended June 6, up from 17.8 million the prior week. That was up 0.1% over the year and up 4.6% 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 April ranged from 820 to 920. Overall, new business applications have been trending up but remain below levels reached in 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Data on seated diners at restaurants using the OpenTable app is no longer being updated to compare the current week to 2019 results.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: Arizona short 11,400 university graduates each year as billions flow into advanced projects (PBJ 6/4)
Automation / AI: The future of work and AI (WSJ 6/9)
Demographic / socioeconomic / Census: Declining fertility rates across the world (FRBSL 6/9)
Federal statistics: Restoring trust in economic statistics: why it matters and how we fix it (Brookings 5/26)
Economy: Consumer sentiment improves slightly in June but remains sluggish (WSJ 6/12)
Education / early childhood development: As states invest in early childhood, here’s what policymakers need to know (Upjohn 6/9)
Energy / environment / infrastructure: Arizona faces 77% cut in share of Colorado River as states remain deadlocked over water allocation (Cronkite 6/9)
Housing / real estate: The effect of land supply for new homes on residential investment and house prices (FRBB)
Mexico/trade: Canada set to reopen Arizona trade office after 12-year hiatus (PBJ 6/11)
Prices/inflation: Gas prices wipe out more than a year of wage gains (WSJ 6/10)
Public finance: Hobbs, GOP legislative leaders agree on $18.3 billion Arizona spending plan (ADS 6/9)
Wages/income/wealth: Three key facts on intergenerational wealth transfer (Urban Inst 6/2)
Workforce/employment/labor market: The data center tsunami is coming. What about the jobs? (PBJ 6/9)