Grand Canyon State Hits 14-Year Unemployment Rate Low
PHOENIX – Governor Doug Ducey today announced Arizona’s booming economy has added more than 400,000 new jobs since 2015 and the state’s unemployment rate has plummeted to 4.1 percent — the lowest since December 2007.
Speaking at a groundbreaking event for Sunlit Chemical in Phoenix, Governor Ducey announced the state’s latest economic achievements, referring to the latest employment report by the Arizona Office of Economic Opportunity.
“Arizona’s economy continues to reach new heights,” said Governor Ducey. “We have more jobs, families are taking home more of their hard-earned money and wage increases are outpacing the country. There’s no question: we’ve come a long way, and it’s the people of Arizona who’ve made it happen.”
Since January 2015, Arizona has added 401,100 new jobs (seasonally adjusted, nonfarm). From December 2020 to December 2021, employment in Arizona increased by 148,600 jobs, or 5.1 percent. Last month, Arizona’s private sector gained 17,800 jobs, primarily in Trade, Transportation and Utilities.
In December, Arizona surpassed pre-pandemic employment levels, the third-fastest state to reach that milestone.
Arizona’s pro-business climate has accelerated job growth as more companies and families flock to the state. Sunlit Chemical’s groundbreaking underscored Arizona’s diversified economy growing hub for semiconductor manufacturing.
Today’s announcement comes after Governor Ducey signed an Executive Order renewing a moratorium on all new regulatory rulemaking by state agencies, continuing his record of cutting red tape, enabling job creation and spurring economic development.
The Governor has issued the moratorium every year since he entered office in 2015, benefittingstate agencies and the people they serve.
During his 2022 State of the State Address on January 10, Governor Ducey announced additional investments for community colleges to establish six advanced manufacturing training centers. These workforce accelerators will form a network of job training centers to prepare Arizonans for next generation jobs.
Additional details on Arizona’s economic momentum can be found HERE.