TUCSON, Ariz. (KGUN) — The Arizona labor market remains tight with September's unemployment rate standing at 3.7%, which is low compared to our state's history. In September of 2019, Arizona's unemployment rate stood at 4.8%.
According to University of Arizona Economist George Hammond, there are roughly $218,000 open jobs in Arizona. This is up around 60,000 from before the pandemic began.
However, with a tight job market, comes higher inflation.
"If we do see job growth, you know, slow as we go through the rest of the year, then that suggests the unemployment rate will continue to trend up," Hammond shared. "That will take some of the pressure off prices as we kind of go through the rest of this year and that will probably be a trend we'll see a lot more of as we get into early 2023."
Hammond says Tucson had a tough September with a bigger loss of jobs compared to Phoenix.
"Tucson did not have a good September in terms of job growth," Hammond added. " Looks like Tucson lost about 5,600 jobs with most of those losses in leisure and hospitality, government care and trade, transportation and utilities."
For the latest unemployment numbers, please visit the U.S. Bureau of Labor Statistics' website.
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Denelle Veselik is an anchor and investigative reporter for KGUN 9. It's been her dream to tell your stories for the past decade. She is extremely curious and wants to continue to use her storytelling for the greater good. Share your story ideas and important issues with Denelle by emailing denelle.veselik@kgun9.com or by connecting on Facebook, Instagram and X/Twitter.
