Labor market Prices & inflation Trade & tariffs Migration Data refreshed weekly
UNEMPLOYMENT
4.1%
↑ +0.1 MoM
BLS · Mar 2025
CPI YoY
3.4%
↓ −0.2 MoM
BLS · Mar 2025
CORE PCE
2.8%
↓ −0.1 MoM
BEA · Feb 2025
FED FUNDS RATE
5.25%
— unchanged
FRED · Apr 2025
GDP GROWTH
2.8%
↑ +0.3 QoQ
BEA · Q4 2024
10Y TREASURY
4.37%
↑ +0.03
Treasury · today
01 — Labor market
Employment & job openings
National unemployment trends alongside Arizona's regional labor market and JOLTS job openings data.
Unemployment rate — U.S. vs. Arizona
Monthly, seasonally adjusted, 2-year window
FRED: UNRATE · AZUR
Source: Bureau of Labor Statistics via FRED Updated monthly
Job openings vs. hires (JOLTS)
Millions of positions, national, monthly
BLS: JOLTS
Source: Job Openings & Labor Turnover Survey, BLS Lags by ~2 months
02 — Prices & inflation
CPI components & energy prices
What's actually driving inflation — broken down by category — alongside Arizona gas prices vs. the national average.
CPI by component — YoY change
Housing, food, energy, core goods & services
BLS: CPI
Source: Bureau of Labor Statistics Mar 2025
Arizona vs. U.S. average gas prices
Regular unleaded, $/gallon, weekly
EIA API
Source: U.S. Energy Information Administration Updated weekly
03 — Trade & tariffs
Arizona–Mexico cross-border flows
Monthly import/export values through Arizona ports of entry. The March 2025 machine parts spike reflects tariff front-running ahead of new ADP classifications.
AZ–Mexico import value by month
Total customs value ($M), all commodities, Jan 2024–Mar 2025
Census USATrade API
Source: U.S. Census Bureau — USA Trade Online AZ ports: Nogales, Douglas, Lukeville, San Luis
Top commodity flows — Mar 2025
By customs value, AZ imports from Mexico
HS code level
Commodity Value ($M) MoM chg
ADP machine parts SPIKE $284.1 +41.2%
Electrical machinery $198.6 +3.1%
Vehicles & parts $176.3 −2.4%
Medical instruments $94.2 +1.8%
Fresh vegetables $61.5 −8.3%
Copper & articles $48.9 +5.5%
Source: Census USA Trade Online Preliminary Mar 2025 figures
ANALYST NOTE — MAR 2025
+41%
ADP machine parts imports through Arizona ports surged 41% month-over-month in March 2025 — well above any seasonal trend. The timing aligns precisely with pre-announced tariff classification changes, suggesting significant front-running activity by importers.
Read the full analysis → "The tariff front-running spike hiding in ADP data"
04 — Migration
Where people are moving — and why
Net migration flows by state and destination, broken down by age and education level using ACS microdata.
Net migration by education — Arizona inflows
Annual net movers, by highest degree attained
IPUMS ACS
Source: IPUMS ACS microdata via Census Bureau 2023 ACS 1-year estimates
Net migration by age group — Arizona
Net movers per 1,000 population, by age cohort
IPUMS ACS
Source: IPUMS ACS microdata via Census Bureau 2023 ACS 1-year estimates