Print Page   |   Your Cart   |   Sign In
News & Press: Arizona Business News Updates

Arizona's job recovery remains on slow climb

Tuesday, April 22, 2014   (0 Comments)
Posted by: Rhette Baughman
Share |

State-by-state employment numbers through March were released last week and they help illustrate Arizona's middling economic performance over the past year.

In that time, Arizona gained a net 47,800 jobs. That was enough to boost the workforce 1.9 percent in that time and was faster than the nation's 1.6 percent growth rate.

But the state's job recovery remains on a slow climb, something many economists had hoped would change in 2014.

According to the U.S. Bureau of Labor Statistics, there were 26 states with statistically significant employment gains in the past year, and Arizona is one of them. Arizona ranked 11th in both the number of jobs added and in the percentage of jobs added.

But three of those 26 states dominate the employment gains. California, Texas and Florida added a net 860,000 jobs and accounted for a combined 47 percent of all the gains in the states where it was worth noting. After those states, the numbers drop quickly to levels more like Arizona's.

If Arizona's numbers were only slightly higher or lower, the state could jump to 9th-best in the country or fall to 16th.

The declines among the unemployed also suggests Arizona's job climate is changing only slowly.

Arizona had 21,000 fewer unemployed residents in March this year compared with the year before. That was a nearly 9 percent decline, according to the BLS.

That ranked 34th among the states.

The stubborn reductions in unemployment are one reason that only seven states currently have higher unemployment rates than Arizona's 7.3 percent.

The problem isn't due to new residents flooding the labor market, either. The labor force, a number that includes all those who want to work, grew only 7,000 in the past year. That's 0.2 percent growth and ranked 25th in the nation by that measure.

In fact, many economists say Arizona's slow recovery from the Great Recession is due in large part to the continued slow rebound in population growth. If more people were moving in, it is believed, more jobs would be needed to support those new residents.

Content reposted from AZ Central. Click here to view original post.

Don’t offer a 401K? No problem.


Introducing Guaranteed Retirement Income from NationwideSM
This new way to save for retirement gives your employees guaranteed retirement income every month for life, for as little as $10 a month.


Save up to 25% off regular rates.

Constant Contact

Save up to 25% off regular rates as an ASBA member. No obligation 60 day trial with one-on-one coaching and support to help get you started!


Think BIG, with UPS.


Whether your business is high tech or handmade, our expert-designed products and services can make your small business run more efficiently. Our solutions were created with the specific needs of small businesses in mind.



Experience ASBA


Date: Held monthly
Time: Click for times based on location
Location: Phoenix or Tucson


ASBA Speed Networking


Date: Held monthly
Time: Click for times based on location
Location: Phoenix or Tucson

Affordable Dental Plans for ASBA Members

Delta Dental

Your smile deserves Delta Dental, the nation’s leading dental benefits provider. With the largest network of dentists, personalized service & special pricing for ASBA members, we make it easy to keep your smile healthy.


Have questions on small business and health insurance?

Health Insurance

Get the latest on individual, sole proprietor, or group plans related to small business. We can help you find the right plan for you, and your employees. Click to learn more!


Small is the New Black


What's trending for 2017? Small Business! This year, resolve to support our local economy by "Thinking Small" at least one time each week! Need help finding a small biz? Visit! #ThinkSmallBiz


Association Management Software Powered by YourMembership  ::  Legal