By Roland Murphy for AZBEX
Arizona’s seasonally adjusted unemployment rate fell to a record low of 3.4% in May, down from 3.6% in April, according to the latest report published by the Arizona Office of Economic Opportunity.
The national unemployment rate increased over the month, rising to 4.0% from 3.9%. Last May, Arizona had a seasonally adjusted rate of 3.7%. The national rate was also 3.7%.
The Arizona Construction sector lost 400 jobs over the month.
Arizona had a not-seasonally adjusted loss of 10,300 in nonfarm employment jobs. “Prior to the pandemic (2010-2019), NSA nonfarm employment lost 6,700 jobs on average in May,” the report states.
The private sector lost 4,900 jobs over the month, led by Leisure and Hospitality falling by 4,600 and Professional & Business Services losing 3,000 jobs. Government lost 5,400.
Of the 11 sectors tracked, only four reported gains over the month. Health Care and Social Assistance increased by 3,700. Manufacturing was second with gains of 1,600. In addition to Construction’s loss of 400 jobs, Natural Resources and Mining also dipped, falling by 100. Trade, Transportation and Utilities was the only sector unchanged for the month.
Year-over-year, nine of the 11 sectors reported gains, including Construction’s addition of 3,900 jobs.
Construction Employment
Statewide construction employment totals 215,800 jobs. In May 2023, the sector reported 211,900.
The Arizona Construction sector features three major segments: Buildings, Heavy, and Specialty Trades. There are currently 46,600 jobs in Buildings, which is down 500 from April and up 2,300 from May 2023. Heavy Construction was unchanged in May with 25,200 but added 800 over the year. Specialty Trades gained 100 over the month for a total of 144,000, and the segment gained 800 year-over-year.
Construction jobs in the Phoenix Metro Area (Phoenix-Mesa-Scottsdale) lost 800 over the month for a total of 170,700. The May 2023 number was 169,000. Metro Tucson gained 100 construction jobs over the month at 20,900, which is an increase of 800 year-over-year.
Yuma, Flagstaff, Prescott, Lake Havasu City-Kingman and Sierra Vista-Douglas combine Mining and Construction jobs in reporting their job sector totals. Of these, Yuma and Lake Havasu City-Kingman reported losses of 100 each. Yuma reported a decrease to 3,700, while Lake Havasu City-Kingman dropped to 4,700. Of the unchanged metro areas, Flagstaff reported 3,100. Prescott was at 7,200, and Sierra Vista-Douglas closed the month at 2,100.