Tag Archives: Unemployment

Phoenix unemployment continues to improve, decreasing to 4.5 percent

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MayUnemploymentAccording to the BLS, total non-farm employment in Metro Phoenix reached 1,973,000 payrolls in March 2016, representing an annualized increase of 69,900 jobs or 3.7 percent. Meanwhile, unemployment continues to improve, decreasing to 4.5 percent, down 80 basis points from one year prior.

Click here to download our full May Employment Update report.

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Phoenix Unemployment Update: January 2016

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In 2015, the Phoenix office market recorded the largest single-quarter absorption gain since the Great Recession. Total vacancy in Phoenix decreased to 20.9 percent at the close of 2015 and year-to-date total net… Read More

Phoenix Unemployment Update: December 2015

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The Phoenix office market continues to improve in 2015. Total vacancy in Phoenix decreased to 21.8 percent in the third quarter, the lowest level since the Great Recession. Year-to-date total net absorption reached 1,209,529 square feet, which… Read More

Phoenix employment update: February 2015

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Slide 1Phoenix 12-month job growth ended the year in the December on a very positive note, adding over 49,000 jobs to the Valley.

Unsurprisingly, Professional and Business Services came in first, adding 18,328 new jobs over the last 12 months. Education and Health Services also continued its consistent growth, adding 12,726 new jobs. Another consistent theme seems to be the continued under-performing Construction and Manufacturing sectors which have lost 3,600 job cumulatively over the last year.… Read More

Phoenix Employment Update | October 2014

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October Phoenix Employment Update

As of October, Phoenix 12-month job growth has been a steady 2.3 percent. The Valley added 42,504 new jobs to maintain its consistent trend.

Education and Health Services continue to be the fastest growing sector in Phoenix adding 14,120 new jobs over the last 12 months. Office-using employment such as Professional and… Read More

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… Read More

Phoenix Employment Update | July 2014

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July Phoenix Employment UpdatePhoenix employment slowed in May to 1.6 percent over the last 12 months. The Valley added just 28,000 new jobs  over the last year.

The public sector has been a heavy weight on Phoenix’s positive employment growth as government shed over 9,000 in the last year. Education and health services as well as… Read More

Chart of the Week: Phoenix unemployment in the middle of the pack

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COW_Phoenix_March 31

Phoenix is seeing strong annual job growth which has helped bring down the unemployment rate from 10.5 percent during the recession to its current rate at 6.7 percent. Riverside, CA and Detroit, MI had unemployment exceed 15.0 percent during the recession and continue to have the highest unemployment rate among the largest 20 metropolitan… Read More

Phoenix Employment Update | February 2014

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February Phoenix Employment UpdatePhoenix added 6,400 jobs, in December, well below expectations. Unemployment rose from 6.0 percent to 6.2 percent due to growth in the labor force.

Trade, Transportation & Utilities as well as Education and Health Services continue to lead the way adding 23,500 jobs. Financial Activities along with Professional and Business Services also… Read More

Phoenix Office Market Highlights | Q4 2013

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The Phoenix office market ended the year on a high note with steady absorption gains across the Valley and a subtle drop in vacancy thanks to limited construction completions. Although 2013 closed out in the black, occupancy gains were smaller compared to 2012 as tenants remain cautious about the state of the economy and… Read More