Arizona's unemployment rate rose to 8.2% in May 2009 as reported by the Arizona Department of Commerce. The state's rate remained lower than the national rate of 9.4% in May. The Arizona Republic spoke with Scottsdale economist Elliott Pollack who expects the rate and jobless numbers to climb because the market for construction jobs is so weak. "It's likely to get worse before it gets better, because we simply haven't reached the bottom in commercial construction," Pollack said. "I don't think there will be another office building built in Phoenix for four or five years."

John Laub is the President of the Phoenix CEO-CFO Group.

1. "Arizona Unemployment Rate Hit 8.2% in May. New Claims for Jobless Benefits Likely to Rise." Betty Beard. The Arizona Republic June 19, 2009.

2. "Arizona Unemployment Rate Climbs to 8.2% in May." Arizona Department of Commerce News Release. June 18, 2009.