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Experts: Arizona on path to full economic recovery

Experts: Arizona on path to full economic recovery

CREATED Dec 5, 2012

Web Producer: Ina Ronquillo

PHOENIX (AP) - Experts say Arizona is on the path to full economic recovery and may get there in about three years.

Economists say Arizona ranked fifth among states for job growth as of September and Phoenix was fourth among large metropolitan areas.

They say Arizona is expected to add 60,000 jobs next year led by professional and business services, retail, hospitality and health care.

Experts also say Arizona may see a 2.5 percent growth in its employment rate next year. They also predict that the state's unemployment rate will dip below 8 percent in 2013.

About 1,000 people attended Wednesday's 49th annual Economic Forecast luncheon at the downtown Phoenix Convention Center.

The event was co-sponsored by Arizona State University's W. P. Carey School of Business and JPMorgan Chase.

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