The New Yavapai Economy: Employment is up
On Friday, the U.S. Bureau of Labor Statistics released the June unemployment report with Arizona still faring well in terms of job growth.
Current state unemployment sits at 5.8 percent.
The state held a statistically significant increase in month-after-month job growth, adding 10,700 jobs in the month of June. Annual comparisons of June 2015 to June 2016 employment numbers show an increase of 76,300 jobs in the state, bringing the total number of jobs to just over 2.7 million.
Looking at seasonally adjusted industry specific data, in the month of June, Arizona added:
• 600 jobs in manufacturing;
• 3,100 jobs in construction;
• 1,600 jobs in trade, transportation, and utilities;
• 1,800 jobs in the financial sector;
• 4,400 jobs in education and health services; and
• 3,200 jobs in professional and business services.
Jobs decreased by 500 in the leisure and hospitality with 304,500 jobs now reported in this sector.
Government jobs also declined last month by 3,100, totaling a 7,300 reduction since April in this sector.
Alexandria M. Wright is director for the Yavapai College Regional Economic Development Center.
The Yavapai College Regional Economic Development Center provides analysis and services that facilitate economic development throughout Yavapai County and build wealth in our local communities.