When the Arizona economy went into a severe downturn after the recession began at the end of 2007, mounting job losses, rising foreclosures and increases in unemployment raised the possibility that Arizona’s population might actually begin to decrease, as job seekers went elsewhere. According to Lee McPheters , Research Professor and director of the JPMorgan Chase Economic Outlook Center in the W. P. Carey School of Business, new U.S. Census Bureau figures now show that Arizona population increased during each year of the recession, but at a much slower pace than during the housing boom. Speaking during the Economic Minute at the Economic Club of Phoenix March luncheon, McPheters also provided details on the recently released population growth estimates for 2011, revealing that Arizona ranked as the eighth fastest growing state last year. Population growth for Arizona is expected to recover within the next three to four years, he said. For current and historical data about employment trends, please see Job Growth USA.