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Arizona's employment statistics have been published for August 2012. The State's August unemployment rate remained unchanged at 8.3%. There were roughly 250,000 unemployed individuals in Arizona in for the month. This is an increase of approximately 900 individuals over July. The number of employed in the State also fell in August by about 3,300 workers to approximately 2.75 million. However, this number was largely offset by a subsequent drop of 2,400 in the total civilian workforce. Taken collectively, these statistics result in the static unemployment rate for AZ in August 2012.
If we contrast to a year ago in August 2011, we see that the current 8.3% rate is still considerably better than the year-ago rate of 9.5%. The outcome of the large drop was around 37,500 fewer unemployed individuals in Arizona in August 2012 vs. August 2011. Also, during that time frame there were about 19,000 more employed workers in the state. Additionally, while the recent pattern for many states has been up in recent months, Arizona's unemployment rate has largely dropped for 2012. Compared to the national average Arizona's August 8.3% rate is just moderately (0.2%) above the U.S. average.
The industry employment statistics for Arizona in August are generally unfavorable. Down for the month were Mining & Logging, Construction, Manufacturing, Education & Health Services, Leisure & Hospitality, and Government. A few industries, nonetheless, did see employment gains. These included Trade Transportation & Utilities, Financial Activities, and Professional & Business Services. The major business sector with the greatest percentage gain in the state during the last year was Construction (up 6.7%). The industry with the biggest drop in employment during that timeframe was Other Services (down 1.8%). The industry with the most employed continues to be Trade Transportation and Utilities with about 485,400.
If we look at Arizona compared to other States in the areain August 2012, the state's unemployment rate is in the middle. States with higher unemployment rates than Arizona include California (10.6%) and Nevada (12.1%). State's with lower rates that Arizona in August include Colorado (8.2%), New Mexico (6.5%), Utah (5.8%), and Wyoming (5.7%).
When the employment statistics for Arizona for September 2012 are available later this year we'll review the results and look at the trends for the State. Please understand that previously released employment statistics can be modified at a later date.
If we contrast to a year ago in August 2011, we see that the current 8.3% rate is still considerably better than the year-ago rate of 9.5%. The outcome of the large drop was around 37,500 fewer unemployed individuals in Arizona in August 2012 vs. August 2011. Also, during that time frame there were about 19,000 more employed workers in the state. Additionally, while the recent pattern for many states has been up in recent months, Arizona's unemployment rate has largely dropped for 2012. Compared to the national average Arizona's August 8.3% rate is just moderately (0.2%) above the U.S. average.
The industry employment statistics for Arizona in August are generally unfavorable. Down for the month were Mining & Logging, Construction, Manufacturing, Education & Health Services, Leisure & Hospitality, and Government. A few industries, nonetheless, did see employment gains. These included Trade Transportation & Utilities, Financial Activities, and Professional & Business Services. The major business sector with the greatest percentage gain in the state during the last year was Construction (up 6.7%). The industry with the biggest drop in employment during that timeframe was Other Services (down 1.8%). The industry with the most employed continues to be Trade Transportation and Utilities with about 485,400.
If we look at Arizona compared to other States in the areain August 2012, the state's unemployment rate is in the middle. States with higher unemployment rates than Arizona include California (10.6%) and Nevada (12.1%). State's with lower rates that Arizona in August include Colorado (8.2%), New Mexico (6.5%), Utah (5.8%), and Wyoming (5.7%).
When the employment statistics for Arizona for September 2012 are available later this year we'll review the results and look at the trends for the State. Please understand that previously released employment statistics can be modified at a later date.
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