Overall unemployment rate moved up to 3.2% with the biggest shift in Business Services, which lost 13,000 roles, based on the most recently available information published in March 2022.
Total employment in the Phoenix-Mesa-Scottsdale, AZ market declined by 92,014 jobs in January and the unemployment rate increased compared to the prior month by 80 bps to 3.2%. The national unemployment rate increased by 74 bps over the same time to 4.4%.
- Phoenix-Mesa-Scottsdale, AZ unemployment rate is 123 bps below the national rate which is a positive sign.
- Unemployment in the market is 340 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 6.6% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.6%. Key sectors include:
- Transportation & Utilities: 457,800; -10,800
- Business Services: 372,800; -13,000
- Education & Healthcare: 346,800; -5,100
- Government: 240,400; -3,600
- Restaurants & Hotels: 225,900; +1,200
- Financial Services: 214,800; -2,400
- Construction, Mining: 141,400; -1,400
- Manufacturing: 140,100; +1,000
- Other Jobs: 70,200; -700
- IT & Development: 40,100; -1,500
Data is based on the most recent 12 months available, through January 2022 (Data published March 2022 and reports created on March 18, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.