Overall unemployment rate moved down to 3.1% with the biggest shift in Business Services, which gained 4,500 roles, based on the most recently available information published in April 2022.
Total employment in the Phoenix-Mesa-Scottsdale, AZ market rose by 12,286 jobs in February and the unemployment rate decreased compared to the prior month by 10 bps to 3.1%. The national unemployment rate decreased by 28 bps over the same time to 4.1%.
- Phoenix-Mesa-Scottsdale, AZ unemployment rate is 104 bps below the national rate which is a positive sign.
- Unemployment in the market is 360 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in February versus prior month by 8.4% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.8% . Key sectors include:
- Transportation & Utilities: 457,900; +100
- Business Services: 379,000; +4,500
- Education & Healthcare: 351,500; +4,400
- Government: 242,900; +2,400
- Restaurants & Hotels: 226,100; +800
- Financial Services: 215,100; +1,000
- Construction, Mining: 143,600; +2,200
- Manufacturing: 141,200; +1,400
- Other Jobs: 71,400; +2,000
- IT & Development: 40,600; -400
Data is based on the most recent 12 months available, through February 2022 (Data published April 2022 and reports created on April 6, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.