Mon, Jun 20, 2022 10:27 AM
By Carly Moran, The Center Square
Unemployment for Arizona has remained at 3.2% for the month of May, following April’s trends. In contrast to the country as a whole, which is at 3.6% unemployment, Arizona is doing slightly better than average.
The county with the lowest unemployment rate is Yavapai, at 2.8%. The highest rate is 14.4% in Yuma County.
Last May, Arizona’s unemployment was at 5.4%. This means 102,900 residents are now employed that were not a year ago.
Service industries have experienced the highest number of new jobs since last year, at 88,700 newly employed. In regards to the highest percentage, leisure and hospitality have risen by 10.6% growth. Both services and hospitality sectors significantly suffered amid pandemic-induced shutdowns.
It is important to note that all numbers exclude agriculture due to the variability and seasonal nature of the industry.
As for job numbers for the month of May, net employment gain is at 7,400. The industry with the highest growth was once again leisure and hospitality, at 4,900 jobs. This follows the trend of seasonal summer employment.
Net employment losses are at 12,900, with the government losing 6,700 employees. Though this calculates to a net reduction in employment (-5,500) readjustments, the unemployment rate remained unchanged.
The Arizona Office of Economic Opportunity Report views May 2022 as a net win for the state’s economy, or at least to be a neutral development.