PHOENIX - The Arizona Office of Economic Opportunity today projected Arizona will add over 150,000 new jobs over a two-year period as part of its annual short term economic outlook. The outlook, which was produced in conjunction with the U.S. Department of Labor, shows Arizona jobs to grow throughout the state at an annualized rate of 2.6 percent.
Highlights from the report include:
- Employment in Arizona is projected to increase from 2,933,968 to 3,086,936 over the two-year period, representing growth of 152,968 jobs.
- Arizona’s annualized jobs growth rate is projected at 2.6 percent.
- All 11 substate areas are projected to add jobs over the two-year period.
- All 11 supersectors are projected to add jobs.
- Educational and Health Services is expected to add the largest number of jobs (39,779 jobs or 3.3 percent annualized growth).
- Manufacturing is expected to grow at 2.4 percent over the two year period, an increase from 1.3 percent growth from 2015-2017.
- Sectors with the largest expected gains are: Educational and Health Services (39,779 jobs), Professional and Business Services (22,391 jobs), Leisure and Hospitality (19,547 jobs), Construction (15,554 jobs), and Trade, Transportation and Utilities (15,312 jobs).
Since 2015, Arizona has added over 160,000 private sector jobs.
“Arizona’s economy continues to thrive thanks to the hard work of entrepreneurs and innovators throughout our state,” said Governor Ducey. “We are focused on making Arizona the best place in the country to launch a new idea, re-locate, or expand a business, and I am excited to see the the continued positive developments to come.”
To read the report, click HERE.