Arizona unemployment rate drops, U.S. increases

Arizona’s seasonally adjusted unemployment rate dipped while the U.S. seasonally adjusted unemployment rate increased in April and May, according to Arizona’s Office of Employment & Population Statistics. In Arizona, eight-of-the-eleven major sectors added jobs, while three reported losses and several sectors reported gains considerably higher than their historic ten-year averages.

A year ago in May, the Arizona seasonally adjusted rate was 8.4% and the U.S. rate was 8.2%.

Arizona added 51,800 Nonfarm jobs (2.1%) over the year in May. The Private Sector added 51,100 jobs (2.5%), the largest gain since February 2007. Government added the remaining 700 jobs (0.2%).

Construction reported the largest over-the-month employment gain (6,200 jobs, 5.2%) among the major sectors. This job gain was well above the ten-year average (’03-’12) gain of 1,000 jobs and was the largest over-the-month Construction gain on record (‘90-‘13).

Financial Activities added 1,300 jobs, well above the ten-year (’03-’12) average gain of 200 jobs. Professional and Business Services gained 1,200 jobs, the first gain in May in five years (’07-’12) and better than both the ten-year (’03-’12) average loss of 1,100 jobs and the post-recessionary average (’10-’12) loss of 2,200 jobs. Trade, Transportation and Utilities added 1,100 jobs, larger than the ten-year (’03-’12) average gain of 500 jobs.

Other sectors with gains include Manufacturing (600 jobs), Information (600 jobs), Other Services (500 jobs), and Natural Resources and Mining (100 jobs). Government recorded the largest over-the-month loss (-10,000 jobs), primarily from seasonal losses in Local (-9,100 jobs) and State (-2,700 jobs) Education. Leisure and Hospitality (-1,300 jobs) and Education and Health Services (-500 jobs) also reported losses.

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