By Howard Fischer, Capitol Media Services | Arizona Capitol Times
The state’s seasonally adjusted jobless rate ticked down a tenth of a point in March in what, by all indications, was a pretty unremarkable report.
On one hand, the state’s construction industry continues to boom, adding 2,800 jobs last month and 16,700 in the past year. That latter figure was enough to post a 10.8 percent year-over-year gain.
But Arizona also lost 900 jobs last month in wholesale and retail trade.
On an annual basis the biggest loses were in areas that have now become expected: stores that sell furnishing, clothing and accessories. These are sectors of the economy that have been hardest hit by competition from online retailers.
