Arizona two-year jobs forecast projects increases
Published: May 4, 2012 at 1:34 pm
State economists say Arizona is on a pace to add about 50,000 nonfarm jobs annually but that the rate of increase still trails the period before the Great Recession.
Arizona has about 2.5 million nonfarm jobs, and Department of Administration economists project a 2 percent increase this year and a 2.3 percent gain in 2013.
That compares with an average increase of 3.2 percent from 1997 to 2006.
The department says economic sectors with the biggest projected increases are educational and health services, leisure and hospitality, and transportation and utilities, followed by construction.
The department’ says many economic indicators point upward.
But it cautions that risks add uncertainty. Those include rising petroleum prices, a potential military conflict in the Persian Gulf and the public debt crisis.
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