Arizona economy 2 years away from full recovery

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Video report by Tanya Mendis

Posted on May 9, 2014 at 1:36 PM

TEMPE, Ariz. (AP) -- Some experts say Arizona's economy is two years away from a full recovery from the recession.

Arizona State University hosted its annual Economic Outlook meeting Thursday.

Economists say Arizona was hit earlier and harder by the economic crisis than other states four years ago and it's taking longer to come back.

Research Professor Lee McPheters is director of the JPMorgan Chase Economic Outlook Center at the W. P. Carey School of Business at ASU.

He says while the country overall has already regained 99 percent of the jobs lost in the recession, Arizona has only regained 56 percent of its nearly 313,000 lost jobs.

McPheters says the state has seen a good comeback in some areas but construction, manufacturing, government and retail jobs still have a long way to go.

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