Overall unemployment rate moved up to 4.0% with the biggest shift in Transportation & Utilities, which lost 700 roles, based on the most recently available information published in March 2023.
Total employment in the Lake Havasu City-Kingman, AZ market rose by 95 jobs in January and the unemployment rate increased compared to the prior month by 10 bps to 4.0%. The national unemployment rate increased by 60 bps over the same time to 3.9%.
- Lake Havasu City-Kingman, AZ unemployment rate is 14 bps above the national rate which is a negative sign.
- Unemployment in the market is 40 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in January versus prior month by 5.5% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.4%. Key sectors include:
- Transportation & Utilities: 13,300; -700
- Education & Healthcare: 9,500; no change
- Restaurants & Hotels: 8,100; no change
- Government: 7,900; -100
- Business Services: 4,700; no change
- Construction, Mining: 4,200; no change
- Manufacturing: 3,100; no change
- Other Jobs: 2,000; no change
- Financial Services: 2,000; no change
- IT & Development: 600; no change
Data is based on the most recent 12 months available, through January 2023 (Data published March 2023 and reports created on March 17, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.