Phoenix Employment Update | August 2014

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August Phoenix Employment UpdatePhoenix employment growth picked up in May to 2.1 percent over the last 12 months. The Valley added just under 37,700 new jobs  over the last year.

Education and health services as well as financial activities continue to drive the market forward with the biggest gains. In fact, the two sectors combined make up about 35 percent of Phoenix GDP. The tourism industry also supplements Phoenix’s growth as leisure and hospitality added 10,500 new jobs over the last 12 months. The Phoenix economic landscape continues to improve despite the lagging construction and government sectors, which have each shed over 2,900 jobs in the last year.

Phoenix’s unemployment rate rose to 6.5 percent, remaining lower than the Arizona rate (6.9 percent) but falling above the national rate (6.1 percent).

Visit our Phoenix Research Group page for additional market insight: Phoenix – Research

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