Article Summary –
Arizona’s May Employment Report revealed a decrease in unemployment from 3.6% to 3.4%, marking the lowest rate since 1976, and the state also won its fourth consecutive gold shovel award for significant economic development. Governor Katie Hobbs highlighted the creation of more than 110,000 new jobs since her tenure began in January 2023, with 84% in the private sector and substantial growth in health care, manufacturing, and other services. Arizona is recognized for its strong economy, record low unemployment, and top manufacturing growth, with ongoing efforts to create good-paying jobs and foster business development.
Phoenix, AZ – On Thursday, June 20, 2024, the Arizona Office of Economic Opportunity released the state’s May Employment Report, showing that the unemployment rate decreased from 3.6% to 3.4%, the lowest jobless rate since 1976. Additionally, today Arizona was awarded its fourth consecutive gold shovel award celebrating the state’s leadership in economic development and the Phoenix region has been recognized as the top region for manufacturing growth.
“Arizonans have more opportunity than ever before, and our state has record low unemployment numbers,” said Governor Katie Hobbs. “With these record setting numbers, it’s clear that Arizona’s economy is strong. I am laser-focused on creating good-paying jobs for Arizonans, building and creating businesses in our state, and ensuring every Arizonan has the opportunity to thrive.”
Employment numbers were driven by private sector growth, led by above-average jobs growth in key sectors: 3,700 new jobs in Health Care, 1,600 new jobs in Manufacturing, and 1,400 new jobs in other services.
More than 110,000 new jobs have been created since Governor Hobbs took office in January 2023 (111,300). Of those 110,000 jobs, 84% were in the private sector (93,400). Driven by significant gains in construction over her first year, manufacturing jobs are trending up as major facilities are constructed and begin operations and hiring.
This announcement comes after Governor Hobbs celebrated in March that Arizona was a top state for jobs growth in 2023, and, as of September 2023, more Arizonans are at work than ever and incomes continue to rise.
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