Friday, October 27, 2006

Dear Friends,

Arizona is enjoying excellent economic progress – we’re the second fastest growing state in the country in personal income and employment growth and lead all states in economic momentum.[i] Arizona is ranked among the best states in which to do business in each of the past two years by CEOs,[ii] and our unemployment rate of 3.7% is lower than the national average (4.6%). Phoenix has captured the top spot in the Annual Entrepreneurial Hot Cities rankings of the nation's best places to start and grow a business.[iii] 

By any measurement, Arizona is one of the fastest growing, most dynamic economies in the nation.  But what does this all really mean?

It means jobs!

Since January 2003, we have created 330,000 jobs and are on track to create 150,000 more by the end of next year.  After taking into account hiring, firing, retiring and transitioning of workers, we added 29,800 non-farm jobs to the economy in September with minimal job losses. Ninety-six percent of the added jobs were in the service-providing industry, and we set a new record high for non-farm jobs.

Six different “super sectors” reached record levels in August, and September those sectors are: Construction, Trade transportation and utilities, Financial activities, Professional and business services, Educational and health services, and Other services (those not included in all listed sectors). Here are some highlights of the performance in key super sectors:

• Construction added 1,700 jobs, reaching an all-time high of 248,700 jobs in the industry. There was growth of about 200 jobs in both heavy construction and specialty trades, and loss in construction in buildings.
  
  
• Financial Activities also broke a record: after adding 600 new jobs it reached a record of 182,400 jobs. Finance and insurance gained 600 jobs while jobs in real estate and rental and leasing had no change.
  
  
• Education and Health Services gained total 2,900 jobs, reaching a total of 288,700.  Of the new jobs created in September,  2000 were in education occupations and  900  in health services.

For more information on Arizona’s success, please visit www.workforce.az.gov.

Every day more families find a reason to move to Arizona. Whether it is providing more services to our maturing citizens than ever before or constantly working to improve our healthcare and education systems, we will not stop moving Arizona forward until it is the best place to grow up in and the best place to grow old in.

As always, if you have suggestions or questions, please call my office at 1-800-253-0883 and ask to speak to Constituent Services.