Arizona ranks 4th in job growth

Arizona ranks 4th in job growth

Construction jobs are among those leading the growth in Arizona

By Ryan Randazzo

The Arizona Republic

Arizona’s economy might have a sluggish feel to it these days, but it’s doing better than most of the country, according to a report released Thursday by Arizona State University.

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.


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August 2012