While Arizona’s unemployment rate stayed the same last month at 4 percent, an estimated 22,900 new nonfarm jobs were created from June to July. With the highest increases coming in the manufacturing, trade, professional & business services, and education & health services sectors. Adding to this, since July 2021, the state has added over 100,000 new jobs.
In addition to the increase in jobs across the state, locally the Phoenix area has added over 86,000 new nonfarm jobs. The area’s unemployment rate of 3.4 percent is significantly lower than the state rate of 4 percent.
Despite the state’s stagnant unemployment rate, current economic numbers show good signs for the future of the Arizona and Phoenix economy.