Arizona's November jobs report shows gains in the labor force but a slight increase in the unemployment rate.
A reported 12,851 people were added to the labor force and 11,500 seasonally adjusted nonfarm jobs were added month-over-month. Year-over-year, total nonfarm employment has gone up by 60,000 jobs, 47,000 of which were in the private sector.
For month-over-month employment gains in specific sectors, the biggest gaining sector was trade, transportation, and utilities, which added 16,600 jobs, according to the report. The professional and business services sector gained 9,100 jobs, and the construction sector gained 3,300 jobs.
Hobbs touted the November numbers, which are reflective of the economic growth in the state.
"Our economy is soaring," Hobbs tweeted Wednesday. "In November, 11,500 jobs were created while 12,851 people joined the workforce. Because we've attracted world-class investments & built pipelines to good-paying jobs – Arizona is becoming the best place to work & do business."
When it comes to year-over-year employment gains, private education and health services gained 21,800 jobs and government added 13,000 jobs.
"Another year of unprecedented economic growth. Thank you [Gov. Hobbs] and all our partners statewide. Looking forward to keeping our momentum going in 2024!" Arizona Commerce Authority President and CEO Sandra Watson tweeted.
The unemployment rate is at 4.3%, which is up from 4.2% in October. This is higher than the national average of 3.7%.
