Experts: Arizona on path to full economic recovery - Los Angeles News | FOX 11 LA KTTV

Experts: Arizona on path to full economic recovery

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PHOENIX (AP) - Experts say Arizona is on the path to full economic recovery and may get there in about three years.

Economists say Arizona ranked fifth among states for job growth as of September and Phoenix was fourth among large metropolitan areas.

They say Arizona is expected to add 60,000 jobs next year led by professional and business services, retail, hospitality and health care.

Experts also say Arizona may see a 2.5% growth in its employment rate next year. They also predict that the state's unemployment rate will dip below 8% in 2013.

About 1,000 people attended Wednesday's 49th annual Economic Forecast luncheon at the downtown Phoenix Convention Center.

The event was co-sponsored by Arizona State University's W. P. Carey School of Business and JPMorgan Chase.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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