Overall unemployment rate stayed flat at 2.9% with the biggest shift in Financial Services, which lost 2,700 roles, based on the most recently available information published in May 2023.
Total employment in the Phoenix-Mesa-Scottsdale, AZ market rose by 10,460 jobs in March and the unemployment rate stayed flat. The national unemployment rate decreased by 27 bps over the same time to 3.6%.
- Phoenix-Mesa-Scottsdale, AZ unemployment rate is 72 bps below the national rate which is a positive sign.
- Unemployment in the market is 10 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in March versus prior month by 3.8% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.1%. Key sectors include:
- Transportation & Utilities: 452,200; -1,300
- Business Services: 392,200; -2,600
- Education & Healthcare: 380,100; -1,100
- Government: 248,700; +400
- Restaurants & Hotels: 245,100; +900
- Financial Services: 219,000; -2,700
- Construction, Mining: 161,100; +2,400
- Manufacturing: 150,500; +1,600
- Other Jobs: 70,700; +200
- IT & Development: 42,500; -400
Data is based on the most recent 12 months available, through March 2023 (Data published May 2023 and reports created on May 9,2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.