Arizona Tech Job Growth Lagging Behind Other Southwest States, Says Report

While tech job demand remains high in Arizona, it lags behind Nevada, Utah and Texas in current and projected rrowth

inbusinessPHX.com

The Arizona Technology Council released its Q1 2024 Arizona Technology Industry Impact Report. Takeaways from the report focused on job growth throughout the Southwest. Arizona technology job demand remains high but still lags Nevada, Utah and Texas. In Q1 2024, technology job growth sat at 3% in Arizona, tied with California, while other states reported job growth of 4% or more. However, a noteworthy highlight is that Arizona has the lowest number of unemployed individuals in the tech industry among the compared states, with just 24,000.

“We’re thrilled to see that job demand remains high and unemployment remains very low in Arizona’s technology industry,” said Steven G. Zylstra, president and CEO of the Council and SciTech Institute. “However, we’re working hard to attract new companies to Arizona to take advantage of the outstanding business environment and quality of life for employees. This will allow the state to boost job growth and retake the lead as the fastest-growing technology hub in the Souwthwest.”

A few additional data points stood out in the Q1 2024 report, including:

  • Tech jobs in Arizona are projected to increase 9% in the next five years (2023-2028). This is behind Texas, Utah and Nevada.
  • Arizona experienced a $4 billion gross regional product growth from 2022 to 2023.
  • Arizona technology industry earnings have reached $32.4 billion.

In addition to the updated data on the Arizona technology industry, the Council also supplements its report with published works, blogs and interviews highlighting technology industry leaders in the state, news from organizations across a wide range of sectors in the technology community and more.

Highlights from the Q1 2024 Impact Report include the following stories

Technology Sector Jobs News

Diversity and Inclusion News

Company News

Workforce Development and Education News

Investment News – Funded, Grants, etc.

On the Council’s behalf, the quarterly report is compiled by Lightcast , an organization that creates web-based, data-reporting solutions designed to help cities, industries and planners drive effective policy, create new growth and engage stakeholders. The report is based on Lightcast’s analysis of data from Emsi, Brookings Institution, CompTIA, AngelList, National Science Board and others.

Download or view the complete report on the Council’s website here.

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