Arizona Ranks High For Employment & Average Weekly Wage Growth!

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Real Estate Agent with Keller Williams Realty EV (AZ) & Keller Williams SLC (UT) 629265000 & 7238507

Arizona Ranks High For Employment & Average Weekly Wage Growth In The Country!

Data released by the Bureau of Labor Statistics (BLS) ranks Arizona third in the country for year-over-year employment percent gain and fourth for average weekly wage growth between 2018 and 2019. Year-over-year employment in Arizona rose 2.6 percent between September 2018 and September 2019, while average weekly wages went up 4.5 percent between the third quarter of 2018 and the third quarter of 2019 which translates to an increase of $44. These growth are set against a backdrop of a 3.4 percent inflation increase according to Phoenix-Mesa-Scottsdale metropolitan statistical areas data.

Since 2015, Arizona has added more than 350,000 new private-sector jobs and it's employment opportunities are poised to grow more with the state projecting more than 159,000 new jobs over the next two years. It might come as no surprise then that Arizona boasts the fastest decline in the nation when it comes to poverty rates, with approximately 175,000 residents rising above the poverty line between 2015 and 2018.

The BLS also ranked Arizona’s job growth second in the nation for the previous year, with 84,400 jobs created between December 2018 and December 2019. The state also added more than 120,00 residents from 2018 to 2019, placing it third in percentage population growth rate in 2019.

On the other hand, Maricopa County also enjoyed a 3.2 percent year-over-year employment growth, the largest among the 10 largest US counties based on 2018 annual average employment. Its average weekly wages also grew 4.5 percent.

New data from the BLS Local Area Unemployment Statistics (LAUS) program also showed Maricopa County adding 89,328 jobs from December 2018 to December 2019, the highest number of new jobs in all US counties for that period.



Source Article:

azbigmedia.com

 

 

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Arizona Ranks High For Employment & Average Weekly Wage Growth In The Country!

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