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AZ Unemployment Rate Declines to 5.6%

Credit: ADOA-EPS

Source: Arizona Dept. of Administration

Credit: ADOA-EPS

Credit: ADOA-EPS

Arizona’s seasonally adjusted unemployment rate dropped three-tenths of a percentage point from 5.9% in December to 5.6% in January. The US seasonally adjusted unemployment rate decreased from 5.0% in December to 4.9% in January. A year ago, the Arizona seasonally adjusted rate was 6.6% and the US rate was 5.7%.

Over the Month

Arizona shed 48,600 Nonfarm jobs (-1.8%) in January (see Figure 2). This was less than the post-recessionary (’10-’15) average loss of 51,300 jobs. Job losses in January are typical in Arizona as employers reduce staff levels following the holiday months.

The Private Sector lost 36,500 jobs (-1.6%), less than the post-recessionary (’10-’15) average loss of 43,100 jobs in January. Gains were recorded in one of the eleven sectors, while ten sectors posted losses. The gain was recorded in Financial Activities (200 jobs).

The largest losses were recorded in Trade, Transportation and Utilities (-18,300 jobs), followed by Government (-12,100 jobs), Professional and Business Services (-10,800 jobs), Education and Health Services (-2,800 jobs), Leisure and Hospitality (-2,400 jobs), Construction (-900 jobs), Other Services (-500 jobs), Manufacturing (-500 jobs), Natural Resources and Mining (-300 jobs), and Information (-200 jobs).

Over the Year

Arizona Nonfarm employment grew by 3.0% (78,100 jobs) over the year in January. The Private Sector accounted for all of the January gains, adding 83,200 jobs (3.8%). Government employment declined by 5,100 jobs in January. Nine of the eleven sectors reported job gains while two sectors reported losses.

The sectors with the largest gains included Education and Health Services (19,700 jobs), Professional and Business Services (17,300 jobs), and Trade, Transportation and Utilities (13,900 jobs).

Other employment gains were reported in Financial Activities (10,500 jobs), Leisure and Hospitality (7,900 jobs), Construction (6,600 jobs), Manufacturing (4,000 jobs), Information (3,100 jobs), and Other Services (1,200 jobs). Job losses were reported in Natural Resources and Mining (-1,000 jobs) and Government (-5,100 jobs).

Read more at ADOA-EPS

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