Arizona added 84,300 total nonfarm jobs (3.2%) year-over-year in March, setting a new record for the size of the state’s workforce compared to the pre-recession peak in October 2007.
The private sector in Arizona actually added 86,000 jobs (3.9%) over the past 12 months, while the public sector workforce declined by 1,700 compared to March 2015.
The state’s unemployment rate dropped to 5.4% in March while the national rate rose to 5% for the month. The conventional unemployment rate is based on the number of people currently out of work and actively seeking jobs. This is referred to as the U-3 unemployment rate and is the most cited and quoted measure.
Arizona’s U-6 unemployment rate, which includes the long-term unemployed, discouraged and involuntary part-time workers also declined and is at 9.4%, according to the U.S. Bureau of Labor Statistics.
The Arizona workforce is approaching the 3-million-worker milestone, standing at 2.94 million in March.
Month-over-month, the state added 12,200 jobs in March. Of those jobs, 7,300 were in leisure and hospitality, more than all other sectors combined.
Education and health services, construction, and financial activities added a combined 5,900 jobs over the past month. Professional and business services lost 1,400.
This continues the trend which shows that jobs gained since the recession are lower-wage positions compared to the jobs lost in the recession.
Phoenix increased its workforce by 3.7% over 2016, while the Prescott area was up 4.5% over last year. The state workforce increased 3.2%. Tucson increased 3.1%, and Sierra Vista-Douglas metro workforce declined by 1.4%.
The full report is available at https://laborstats.az.gov/