As of December, Phoenix 12-month job growth has accelerated to 2.9 percent. The Valley added 53,536 new jobs to maintain its consistent growth.
Professional and Business Services has become the fastest growing sector in Phoenix, adding 14,226 new jobs over the last 12 months. Education and Health Services continued its consistent growth, adding 12,287 new jobs. Construction was the only sector to lose jobs in that time, shedding almost 1,685 jobs over the last year.
Phoenix’s unemployment rate fell to 5.7 percent, well below the Arizona rate (6.8 percent) and just below the national rate (5.8 percent).
Visit our Phoenix Research Group page for additional market insight: Phoenix – Research