Phoenix job growth hits eight-year high
PHOENIX – The Phoenix job market added 22,400 jobs in February, dropping the unemployment rate a half percentage point to 5.4 percent. The national unemployment rate was 5.5 percent.
The Arizona Department of Administration reports that Valley counties Maricopa and Pinal increased by 3.3 percent in the past year, adding more than 60,000 new hires.
Since January, the Phoenix metro has had a 1.2 percent workforce increase, beating the numbers reported every February over the past 10 years. Since 2014, employment services saw the largest gains, up 11 percent. The sector for other services was up 8.6 percent and business support services saw an 8.1 percent gain.
Phoenix realized an increase of 16,000 jobs in professional and business services. Education and health services added 12,400 new jobs to the numbers.
The Phoenix metro boasts 68 percent of the state’s labor force.
Source: Phoenix Business Journal