(The Center Square) – Arizona continues to fare better compared with other states when it comes to job growth.
A Common Sense Institute analysis of the state’s October jobs report determined that the Grand Canyon State ranked eighth in job growth year-over-year nationwide, and it was part of the minority of states to experience a net job increase in October.
However, the report noted that the rate of growth was “significantly slower” compared with the past two years, noting that education and health services continues to do well as a sector whereas manufacturing is faltering from past highs. Year-over-year, the Health Care and Social Assistance sector gained 25,000 jobs.
“Arizona’s manufacturing employment – once a standout enjoying its fastest growth in decades – fell by -500 jobs (-0.3%) between September and October; over the past twelve months Arizona has shed 2,300 manufacturing jobs,” the report stated.
However, the institute noted that the state is not alone in its struggles with the sector.
“Twenty-three states experienced job losses in their manufacturing sectors in the last year, and twenty-six experienced monthly losses in October. Manufacturing employment in Arizona peaked in November 2022,” the report added.
The unemployment rate in the state increased by one-tenth of a percent to 3.6%, which is still below the national average of 4.1%.
The jobs report recorded a month-over-month gain of 7,700 jobs in the Leisure and Hospitality sector, 5,900 jobs in Trade, Transportation & Utilities, and 4,800 jobs in Health Care and Social Assistance.
