Arizona's employment statistics have been released for August 2012. The State's August unemployment rate remained unchanged at 8.3%. There were about 250,000 unemployed people in Arizona in for the month. This is an increase of roughly 900 individuals over July. The number of employed in the State also fell in August by around 3,300 individuals to approximately 2.75 million. However, this number was mostly offset by a subsequent drop of 2,400 in the total civilian workforce. Taken collectively, these statistics result in the unchanged unemployment rate for AZ in August 2012.
If we contrast to a year ago in August 2011, we see that the current 8.3% rate is still significantly better than the year-ago rate of 9.5%. The result of the large drop in the rate was around 37,500 less unemployed individuals in Arizona in August 2012 vs. August 2011. Moreover, during that time frame there were around 19,000 more employed individuals in the state. Additionally, while the recent pattern for many states has been up in recent months, Arizona's unemployment rate has mainly dropped for 2012. Compared to the national average Arizona's August 8.3% rate is just slightly (0.2%) higher than the U.S. average.
The industry employment numbers for Arizona in August are generally negative. Down for the month were Mining & Logging, Construction, Manufacturing, Education & Health Services, Leisure & Hospitality, and Government. A handful of industries, however, did see employment gains. These included Trade Transportation & Utilities, Financial Activities, and Professional & Business Services. The business type with the largest percentage gain in the state over the past year was Construction (up 6.7%). The industry with the biggest drop in employment during that timeframe was Other Services (down 1.8%). The major business sector with the most employed continues to be Trade Transportation and Utilities with approximately 485,400.
When compared to other States in the area, Arizona's August 2012 unemployment rate is about average. Higher than Arizona in August 2012 are the States of California (10.6%) and Nevada (12.1% - still one of the highest in the nation). State's with lower unemployment rates include Colorado (8.2%), New Mexico (6.5%), Utah (5.8%), and Wyoming (5.7%).
Later this Fall the employment numbers for Arizona for September 2012 will be published. When they are we'll review the statistics and look at the trends for the State. Please understand that formerly released employment statistics might be changed in the future.
If you're unemployed in AZ and looking for information please visit the Arizona Unemployment Headquarters.
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