Economist: Arizona economy on track for solid 2017 growth

PHOENIX (AP) — Stronger than expected growth in the state's economy this year should continue in 2017 even though single-family housing starts continue to disappoint, an Arizona State University economist told business leaders Monday.

Research professor Lee McPheters also said an increase in the minimum wage from $8.05 an hour to $10 per hour in January isn't likely to stifle economic growth, despite concerns among the business community that the increase will harm employment levels and profits.

[...] employment went up over the year of that minimum wage increase and the unemployment rate continues to go down.

McPheters, director of the ASU business school's JPMorgan Chase Economic Outlook Center, delivered his annual economic forecast at an event for business leaders at the Phoenix Convention Center on Monday.