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Arizona unemployment rate hits 45-year low

The unemployment rate in Arizona continues to decline.

In March 2022, Arizona had a seasonally adjusted unemployment rate of 3.3%. This was slightly lower than the national unemployment rate at the same time, according to data released by the Arizona Commerce Authority this week.

The latest data continues a gradual decline in people seeking work since job seeking peaked at 13.9% in April 2020. March data marks a 0.3-point drop in the state’s rate compared to February and a significant improvement over the unemployment rate of March 2021. Back then, the state had a 5.8% unemployment rate – 2.5 percentage points higher than it is now.

According to the Arizona Commerce Authority, the state’s seasonal unemployment rate is the lowest in more than 45 years.

“These unemployment numbers are a direct result of economic policies that prioritize opportunity and growth,” said Gov. Doug Ducey’s Spokesman CJ Karamargin. “Under Governor Ducey’s leadership, Arizona has become a jobs juggernaut. Companies large and small, young professionals, families – we’re attracting newcomers in droves. Low taxes, low regulations and a business friendly environment matter. Anyone who thinks otherwise should just look at what’s happening in Arizona.”

Although the state has a low unemployment rate, its younger residents in the labor force aren’t getting those jobs in many cases; the unemployment rate for 16- to 19-year-olds is 20.1%, according to the report.

Arizona’s unemployment rate this century peaked at 13.9% in April 2020 due to the coronavirus pandemic and the shutdowns that followed.

This article was originally posted on Arizona unemployment rate hits 45-year low

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