The seasonally adjusted October unemployment rate in Arizona decreased one-tenth of a percentage point from 6.9% in September to 6.8% in October. The U.S. seasonally adjusted October unemployment rate also decreased one-tenth of a percentage point from 5.9% in September to 5.8% in October.
The U.S. Unemployment rates fell in 34 U.S. states in October. The Labor Department said Friday that unemployment rates rose in just 5 states, the fewest since April. Rates were unchanged in 11 states. Nationwide, employers added 214,000 jobs in October, the ninth straight month of gains above 200,000. That’s the longest such stretch since 1995.
A year ago, the Arizona seasonally adjusted rate was 7.8% and the U.S. rate was 7.2%. Over the month in October, Arizona added 28,500 Nonfarm jobs (1.1%), greater than the post-recession (‘09-‘13) and ten-year (’04-’13) average gain of 17,600 jobs and 15,800 jobs respectively. The Private Sector reported a gain of 24,700 jobs, significantly higher than the post-recession (‘09-‘13) gain of 14,700 jobs and more than double the ten-year (’04-’13) average gain of 11,700 jobs. Gains in Government (3,800 jobs) were higher than the post-recession (‘09-‘13) average gain of 2,900 jobs but lower than the ten-year (’04-’13) average gain of 4,100 jobs.
Eight of the eleven major sectors added jobs, one reported no change, and two sectors shed jobs over the month in October. Trade, Transportation and Utilities recorded the largest over-the-month gain of 6,200 jobs. Professional and Business Services added 5,600 jobs, followed by Education and Health Services (5,100 jobs), Leisure and Hospitality (4,000 jobs), Government (3,800 jobs), and Construction (3,100 jobs). Sectors with smaller gains include Other Services (900 jobs), and Financial Activities (900 jobs). Natural Resources and Mining was flat over the month. Manufacturing (-500 jobs) and Information (-600 jobs) shed jobs.
Arizona added 66,400 Nonfarm jobs (2.6%) over the year, the highest gain since January 2007. The Private Sector gained the most adding 63,000 jobs or 3.0% over the year. This was the first time that the Private Sector reached an over-the-year growth of 3.0% since peak employment in 2006. Government added 3,400 jobs (0.8%) over the year. Ten of the eleven major sectors reported gains with only one reporting a loss. Education and Health Services added the most jobs (18,500 jobs). Gains were driven by Health Care and Social Assistance which added 16,500 jobs, the largest over-the-year gain on record (’91-’14). Other sectors with large gains include Professional and Business Services (15,900 jobs), Leisure and Hospitality (12,600 jobs), Trade, Transportation, and Utilities (7,300 jobs), and Financial Activities (6,800 jobs). Smaller gains were recorded in Government (3,400 jobs), Other Services (3,100 jobs), Information (500 jobs), Manufacturing (400 jobs), and Natural Resources and Mining (300 jobs). Construction reported a loss of 2,400 jobs over the year.