November 18, 2024

AZ unemployment ticks up, remains low

Joblessness went up slightly for a third time in four months, but remains near historic low.

jobless covid cn More than 470,000 Arizonans have filed for unemployment in the last six weeks. New expanded jobless benefits begin in May, but advocates worry it won’t be enough to offset the massive damage from the coronavirus.
Bytemarks/Creative Commons

Arizona's unemployment rate went up a tenth of a percentage point in October to 3.6%, marking the fourth straight month of an increase that size.

But those increases follow an all-time record low of 3.3% in June, and remain well below pre-pandemic levels and the national rate.

Statewide joblessness remains below pre-pandemic levels, which were typically a percent higher than they are now. They also remain below the current national unemployment rate of 4.1%.

While only two sectors saw job losses month-to-month, a state report notes that job growth occurred at a slower than expected rate in a handful of sectors.

State economists note that year-over-year growth remains strong across most sectors of the economy, and unemployment remains at a rate only seen just before the Great Recession.

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