Overall unemployment rate moved down to 4.8% with the biggest shift in Transportation & Utilities, which gained 100 roles, based on the most recently available information published in December 2022.
Total employment in the Lake Havasu City-Kingman, AZ market declined by 508 jobs in October and the unemployment rate decreased compared to the prior month by 10 bps to 4.8%. The national unemployment rate increased by 8 bps over the same time to 3.4%.
- Lake Havasu City-Kingman, AZ unemployment rate is 140 bps above the national rate which is a negative sign.
- Unemployment in the market is 50 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in October versus prior month by 8% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.7% . Key sectors include:
- Transportation & Utilities: 13,800; +100
Data is based on the most recent 12 months available, through October 2022 (Data published December 2022 and reports created on December 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.