The Greater Phoenix Chamber has released its June Arizona Economic Insights Dashboard findings. This tool provides access to real-time, interactive data updates on Arizona’s ever-changing economic landscape. Users can delve deeper into GDP, job projections, population changes, average income, educational attainment, housing data, and more.
June economic data findings include:
Hiring Rates: In April, hiring rates in Arizona increased by 0.40%, while the national rate remained unchanged at 0.00%.
Job Opening Rates: Job opening rates in Arizona rose by 1.00%, contrasting with a 0.20% decrease observed across the United States. Arizona was one of only 3 states that saw a rise in job openings.
Separation Rates: Arizona experienced a 1.00% increase in total separation rates (employees leaving a company), whereas the national rate showed no change.
Employment Trends: Recent trends indicate that employed workers are missing work less often, returning to pre-pandemic levels. Our data tracks this trend back to 2005, offering a comprehensive historical perspective. Additionally, employed workers are missing work less often due to lack of childcare, returning to pre-pandemic levels. Our data tracks this trend back to 2005, offering a comprehensive historical perspective.
Average Weekly Wages: Detailed insights into average weekly wages by NAICS sector are available in our ‘Average Weekly Wages by Industry’ visual. Users can toggle between industries to observe recent growth and data trends over the past five years.
Notably, in the last quarter of 2023, average weekly wages in the utilities sector rose by 17%, amounting to an average increase of $337 per week. This marks the first time in five years that the utilities sector’s wages in Arizona have surpassed the national rate. Additionally, the number of establishments in the utilities sector in Arizona decreased by 1.88%, while nationally, there was a 1.03% increase.
Get more information on how to obtain access to the Arizona Economic Insights Dashboard here.
