Arizona ranks 4th in job growth
Construction jobs are among those leading the growth in Arizona
By Ryan Randazzo
The Arizona Republic
Arizona ranked No. 4 in job growth in the past year, from July 2011 to July 2012. Phoenix tied for the fourth-highest growth among metro areas, according to the ASU analysis of data from the U.S. Bureau of Labor Statistics.
“It’s all relative,” said Lee McPheters, a business professor at Arizona State University. “If we grow 2 percent this year, that is 45,000 jobs, about half the normal growth for Arizona. While we are going better than most places, it’s not so good historically. … Two percent would normally represent a weak year.”
He noted that the Arizona jobless rate is still higher than 8 percent, commercial vacancies are high and many homeowners still face foreclosure.