Arizona’s Office of Employment and Population Statistics released Arizona’s seasonally adjusted unemployment rate on Thursday. Unemployment rate increased one-tenth of a percentage point from 5.4% in March to 5.5% in April. The U.S. seasonally adjusted unemployment rate remained unchanged at 5.0% in April. A year ago, the Arizona seasonally adjusted rate was 6.0% and the U.S. rate was 5.4%.

Over the Month

Arizona gained 7,500 Nonfarm jobs (0.3%) in April. This was less than the post-recessionary (’10-’15) average gain of 8,700 jobs. The Private Sector gained 5,900 jobs (0.3%), which is less than the post-recessionary (’10-’15) average gain of 7,200 jobs in April. Five of the eleven sectors posted gains, one sector remained unchanged, and five sectors posted losses. The gains were recorded in Professional and Business Services (6,800 jobs); Government (1,600 jobs), Information (900 jobs); Trade, Transportation, and Utilities (800 jobs); and Leisure and Hospitality (500 jobs). The losses were recorded in Manufacturing (-1,700 jobs); Other Services (-700 jobs); Financial Activities (-300 jobs); Education and Health Services (-300 jobs); and Construction (-100 jobs). Natural Resources and Mining (0 jobs) recorded neither significant job gains nor losses. 

Over the Year

Arizona Nonfarm employment grew by 3.1% (80,900 jobs) over the year in April. The Private Sector accounted for all of the April gains, adding 81,100 jobs (3.7%). Government employment declined by 200 jobs (-0.0%, due to rounding) in April. Nine of the eleven sectors reported job gains, and two sectors reported losses. The sectors with the largest gains included Professional and Business Services (19,900 jobs); Education and Health Services (16,500 jobs); and Trade, Transportation, and Utilities (13,400 jobs). Additional employment gains were reported in Financial Activities (12,400 jobs); Construction (7,600 jobs); Leisure and Hospitality (6,800 jobs); Information (3,800 jobs); Other Services (900 jobs); and Manufacturing (800 jobs). Job losses were reported in Government (-200 jobs) and Natural Resources and Mining (-1,000 jobs).

See full report here: https://laborstats.az.gov/sites/default/files/documents/files/Emp-Report.pdf

Demonstration highlights progress toward operational capability

TUCSON, AZ — The U.S. Navy completed a series of test shots using Raytheon Company’s (NYSE: RTN) SeaRAM anti-ship missile defense system, taking out several targets in a variety of scenarios that mimic today’s most advanced threats to naval ships.

The series of two shots included one in which two supersonic missiles were inbound simultaneously, flying in complex, evasive maneuvers. In both flights, SeaRAM detected, tracked and engaged the threats, and fired Rolling Airframe Missile Block 2 guided missiles which successfully intercepted the targets.

“SeaRAM achieved a new level of success today, intercepting targets under high-stress conditions,” said Rick Nelson, vice president of Raytheon’s Naval and Area Mission Defense product line. “The system demonstrated once again that it can provide the sophisticated protection warfighters need.”

The tests were conducted on the Navy’s Self Defense Test Ship off the coast of Southern California.

About Close-in Defense Solutions

• Raytheon’s Phalanx is a rapid-fire, computer-controlled radar and 20mm gun system that acquires, tracks and destroys enemy threats that have penetrated all other ship defense systems.
• Intended to enlarge Phalanx’s keep-out range against anti-ship missiles, rotary- and fixed-wing aircraft, unmanned aircraft systems and other evolving threats, SeaRAM anti-ship missile defense systems use advanced Phalanx Block 1B sensors and replace the gun with an 11-round Rolling Airframe Missile guide.

Raytheon Company, with 2015 sales of $23 billion and 61,000 employees worldwide, is a technology and innovation leader specializing in defense, civil government and cybersecurity solutions. With a history of innovation spanning 94 years, Raytheon provides state-of-the-art electronics, mission systems  integration, capabilities in C5I (command, control, communications, computing, cyber and intelligence), sensing, effects and mission support services. Raytheon is headquartered in Waltham, Mass. visit us at www.raytheon.com and follow us on Twitter @Raytheon.

PHOENIX – Lincoln Property Company (LPC) Desert West has hired industry veteran John Orsak as Director of Real Estate. Orsak brings 15 years of real estate experience to his new position, with a focus on acquisitions, dispositions, development, leasing and asset management.

Orsak previously served as Director of Operations and Project Manager at Hines, and as Senior Director Development of VanTrust Real Estate, where he specialized in uncovering value across a range of asset types. During his career, Orsak has produced revenues of more than $200 million.

“Lincoln’s Desert West portfolio is growing at a record-breaking pace,” said Lincoln Property Company’s Executive Vice President David Krumwiede. “John has the broad expertise to move our many investment and development efforts steadily and successfully forward. We’re very excited to have him as part of our team.”

Based in Phoenix, LPC’s Desert West region posted a record-breaking 2015 and continues that momentum into 2016.In the past 16 months, the office has directed more than $300 million in investment and development activity, with recent deals including the $44 million LPC/Invesco purchase of Luhrs City Center in downtown Phoenix, the $35.25 million LPC/Goldman Sachs purchase of Gainey Center II in Scottsdale, and the $34.34 million LPC/Harvard Investments purchase of Riverview Point in Mesa.

Development activity includes a late-2015 completion of the 108,000-square-foot Waypoint One office building in Mesa and Q1 2016 groundbreakings on the 152,000-square-foot Waypoint Two building and Phase I of The Grand at Papago Park Center, which at build out will total 60 acres and 3.2 million square feet of mixed-use space, including 1.8 million square feet of office space, just north of Tempe Town Lake.

Orsak holds a bachelor’s degree in Business Administration from Sam Houston State University. He is a member of the National Association of Industrial and Office Properties (NAIOP) and is the founder of Santa’s Sak, a non-profit organization that supports state-sponsored group homes and puts Christmas gifts into the hands of needy children.

Celebrating its 50^th anniversary this year, Lincoln Property Company (LPC) is an international full service real estate firm offering real estate investment, development, design/construction management, leasing and property management/receivership/asset management services. LPC has approximately 6,800 employees and maintains a presence in more than 200 municipalities in the United States and three countries throughout Europe. Since 1965, the company has developed more than 126 million square feet of office, industrial and retail projects, and 182,000 multi-family units. Property management assignments currently include more than 148 million square feet of commercial space and 146 million square feet of residential property. Acquisition activities exceed $4.0 billion in commercial properties and $3.5 billion in residential properties. LPC’s Desert West Region, which includes Arizona, Nevada, Utah and New Mexico, is based in Phoenix and has been operating since 2001. In that time, the regional office has developed approximately 3 million square feet, acquired 4 million square feet and manages 7.25 million square feet of commercial space, including major, award-winning and LEED Certified developments and investments. LPC is consistently ranked among Phoenix’s top commercial real estate firms for both development and property management, and was most recently recognized as an Arizona Republic Top Companies to Work for in Arizona. For more information, visit www.lpc.com or www.lpcphx.com.