New figures show state’s economy continues to plug along - Ahwatukee Foothills News: Money

default avatar
Welcome to the site! Login or Signup below.
|
||
Logout|My Dashboard

New figures show state’s economy continues to plug along

Print
Font Size:
Default font size
Larger font size

Posted: Wednesday, May 22, 2013 10:45 am

The Department of Administration reports Arizona’s jobless rate last month was 7.9 percent. That’s the third straight month at that level.

By contrast, the nation’s seasonally adjusted unemployment rate dropped by a tenth of a point last month, to 7.5 percent.

Economist Aruna Murthy said a closer analysis shows a mixed bag.

On one hand, the state did add 5,200 jobs in April. And that does beat the 10-year average of 4,600 additional jobs for this time of the year.

But Murthy said that average also includes years where the state was losing jobs — and quickly. In fact, the 2009 report showed a net loss of 17,400 jobs.

A better comparison, she said, would be to start in 2010 after the end of the recession. And this year’s 5,200 job gain is below the average for the past three years.

A closer analysis of the numbers shows both good and bad news.

Murthy said the 2,100 job gain in retail trade is the best since the recession ended. There also was strong growth in employment in wholesale trade.

And Arizona added 3,100 jobs in professional and business services.

But much of that was offset by actual declines in the number of people working in private education. Murthy said that is no real surprise.

“As the economy improves, the enrollment in some of these private schools, private education on-line schools, do go down,” she said. Put simply, people go back to school to improve their skills when jobs are tight, a process that reverses when more jobs become available.

Murthy said, though, she sees a bright spot on the horizon for the financial services sector.

“This particular sector was not doing well,” she acknowledged. But Murthy pointed to recent announcements by some major firms, including State Farm and Union Bank, that they will be locating or expanding here.

“The future of this sector seems to be looking brighter than it was previously,” she said.

Overall, employment in the state is 48,000 more than a year earlier.

Unemployment rates

(not seasonally adjusted unless otherwise stated)

Area Apr ‘13 Mar ‘13 Apr ‘12

AZ (seas adj) 7.9% 7.9% 8.4%

AZ 7.8% 7.8% 7.8%

U.S. (seas adj) 7.5% 7.6% 8.1%

Apache 19.2% 19.3% 18.7%

Cochise 8.3% 8.3% 7.7%

Coconino 7.7% 8.1% 7.7%

Gila 9.1% 9.2% 8.9%

Graham 8.1% 8.0% 8.7%

Greenlee 5.9% 6.3% 5.0%

La Paz 9.2% 9.5% 8.7%

Maricopa 6.5% 6.6% 6.7%

Mohave 9.6% 9.6% 9.3%

Navajo 15.0% 15.2% 14.7%

Pima 6.7% 6.8% 6.7%

Pinal 8.4% 8.4% 8.3%

Santa Cruz 16.8% 16.7% 14.9%

Yavapai 8.1% 8.3% 8.1%

Yuma 30.0% 25.9% 26.3%

Source: Arizona Department of Administration

Sector employment in 1,000s

Sector April 2013 At its peak*

Total nonfarm 2,515.4 2,713.6

Manufacturing 154.8 187.4

Natural resources & mining 12.8 14.3

Construction 119.6 247.5

Trade, transportation, utilities 480.9 549.2

Information/ 38.7 55.6

Financial activities 182.3 187.2

Professional & business services 359.3 408.7

Private education & health services 373.3 323.2**

Leisure & hospitality 282.0 279.1

Other services 85.1 102.0

Government (including public education) 426.6 449.0

* Different sectors have different peak dates

** Prior peak in October 2008 before recession

• Source: Arizona Department of Administration

More about

More about

More about

  • Discuss

Grand Junction to Weigh In on Coal Reform

Federal Judge Strikes Down Fracking Rule Wind and Solar Advocates Praise Governor's New Energy Plan Bear River Dam Proposal Officially Dead Cl…

Published: June 25, 2016 - 2:52 am @ http://www.publicnewsservice.org/2016-06-21/energy…

Land transfer battles rage on, county by county

Info Earlier this year, members of the sportsmen’s group Theodore Roosevelt Conservation Partnership sent letters to commissioners in Montezum…

Published: June 25, 2016 - 2:50 am @ http://www.hcn.org/articles/battles-over-whether-t…

Reminder: The no-fly list is riddled with dangerous flaws

Topics: Gun Control, house sit-in, Mitch McConnell, orlando shooting, terror watch list, Life News, News Earlier this week, the Senate voted d…

Published: June 25, 2016 - 2:40 am @ http://www.salon.com/2016/06/23/reminder_the_no_fl…

Tourist Talks 'U' Album, Shares 'Too Late' Video & Tour Dates: Exclusive

In 2015, Will Phillips won a Grammy for co-writing Sam Smith’s “Stay With Me.” He’s also penned tunes for other English singers that dabble in…

Published: June 25, 2016 - 2:21 am @ http://www.billboard.com/articles/news/dance/74155…

Why Preppers Should Consider Homeschooling

I don’t remember when I first became convinced that homeschooling was the only type of education I wanted for our children. I do know it was l…

Published: June 25, 2016 - 2:20 am @ http://thesurvivalmom.com/why-preppers-should-cons…

Poll: Clinton leads Trump in Arizona

Ballot Box feed By Jonathan Easley A new poll shows Hillary ClintonHillary Rodham ClintonSanders shares star power with NY House hopeful Trump…

Published: June 25, 2016 - 2:10 am @ http://thehill.com/blogs/ballot-box/polls/284634-p…

LulzSec leaks Arizona law enforcement papers (Updated with excerpts)

LulzSec announced Thursday evening the publication at Pirate Bay of a trove of leaked material from Arizona law enforcement agencies. Arizona'…

Published: June 25, 2016 - 2:10 am @ http://boingboing.net/2011/06/23/breaking-lulzsec-lea.html

Adult Life Skills Q&A Tour!

We are delighted to welcome director Rachel Tunnard and the team behind brilliant new comedy Adult Life Skills for special Q&A screenings …

Published: June 25, 2016 - 1:36 am @ https://picturehouseblog.co.uk/2016/06/22/adult-li…

Brexit Anyone? Why the US Should Care About Thursday's Vote in the UK

The murder of a Labour Party member of Parliament, Jo Cox, just a week before Britain’s referendum on its membership in the European Union, st…

Published: June 25, 2016 - 1:09 am @ http://billmoyers.com/story/brexit-anyone-us-care-…

More Corporations Are Putting Money on LGBTQ Equity

BOSTON (WOMENSENEWS)—Target made news this year when it announced that transgender people were welcome to use the bathroom of their choosing i…

Published: June 25, 2016 - 12:20 am @ http://womensenews.org/2016/06/more-corporations-a…

Facebook

ahwatukee.com on Facebook

Twitter

ahwatukee.com on Twitter

RSS

Subscribe to ahwatukee.com via RSS

RSS Feeds

Spacer4px

Most Popular

Online poll

Loading…