Tag Archives: Employment News

Arizona ranks 4th in the nation for GDP growth

According to data released by the U.S. Bureau of Economic Analysis, Arizona’s real gross domestic product (GDP) increased by four percent in 2018, the fourth fastest growth rate in the nation. Arizona’s GDP growth outpaced that of 46 other states including California (3.5%), Florida (3.5%), and Texas (3.2%). Sectors including construction, health care, and social assistance; finance and insurance; professional, scientific, and technical services; and administrative and waste management service contributed the most to Arizona’s GDP growth over the last year.

“A growing economy means more job opportunities, bigger paychecks for Arizonans and more investments in the things that matter, like education, child safety and public safety,” said Gov. Doug Ducey. “Our growth continues to be driven by Arizona’s hardworking employees, job creators and innovators. We remain focused on creating the best economic environment and ensuring sustainable, responsible growth.”

Not only is Arizona’s economy growing at one of the fastest rates in the nation, Arizona’s median household incomes recently reached a record high of $61,125. Arizona also recently ranked third in the U.S. for economic momentumfourth for population growth and fifth for personal income growth. Maricopa County, Arizona’s largest county, led the nation with the largest population increase of any county in the nation in 2018.

More than 298,000 new jobs have been added in Arizona since 2015, and the state is projected to add another 165,000 new jobs by 2020.

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Arizona Becomes First State To Establish Universal Recognition Of Occupational Licenses

Governor Doug Ducey, joined by Representative Warren Petersen, Arizona legislators, members of the business community and many more, signed H.B. 2569, making Arizona the first state in the country to recognize occupational licenses for new residents. 

Arizona is ranked a top-three state for economic momentum and the fourth-fastest growing state in the country. Yet as new residents move here, they often face daunting hurdles imposed by state government to start a job, even though they were licensed, trained and qualified for the same job in another state.

To help these new Arizonans get to work faster, Arizona’s licensing boards and commissions will now be required to recognize occupational licenses granted in other states during the licensing process, something already done for spouses of military personnel deployed to Arizona. The bill ensures public health and safety protections for jobs that require background checks or other safety requirements.

“With this bill, Arizona’s sending a clear message to people across the country: if you’re moving to Arizona, there’s opportunity waiting for you here,” said Governor Ducey. “There’s dignity in all work. And we know that whether you make your living as a plumber, a barber, a nurse or anything else, you don’t lose your skills simply because you moved here. The bill we signed today protects public health and safety while eliminating unnecessary and costly red tape. It’s an Arizona original and should be a model for other states for how to work together and do the things that matter.”

Governor Ducey made passing universal recognition of occupational licenses a top priority in his State of the State address, saying, “100,000 people will move here this year. There’s a job available for every one of them.”

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Forecast: Arizona To Add More Than 165,000 New Jobs By 2020

The Arizona Office of Economic Opportunity released a report projecting Arizona will add 165,691 jobs over a two-year period. From the third quarter of 2018 through the second quarter of 2020, Arizona’s employment is expected to increase from 3,015,242 to 3,180,933, representing an annualized growth rate of 2.7 percent — an increase from last year’s projection of 2.6 percent and more evidence of Arizona’s continued acceleration over the last 12 months.

Arizona is projected to see the highest job growth rates in Construction (5.8 percent) and Manufacturing (3.6 percent). The largest job gains are expected in the Education and Health Services (37,126 jobs) and the Professional and Business Services (26,177 jobs) sectors, although gains are projected across all 11 of Arizona’s top industries.

In addition to the projected job growth, Arizona also saw positive gains in its median household income from 2016 to 2017, according to data from the United States Census Bureau. Arizona’s median household income rose 4.8 percent — more than double the national growth rate of 1.8 percent. According to the data, Arizona’s median household income reached $61,125, a record high.

“Arizona’s economy is booming,” said Governor Doug Ducey. “Not only is Arizona projected to add 165,000 jobs over the next two years, Arizona families are taking home more dollars and incomes are rising at one of the fastest rates in the country. This is positive news that affects our entire state — and we have Arizona’s hard-working entrepreneurs, business leaders and employees to thank. We will continue to focus on advancing Arizona’s business-friendly environment to bring even more jobs and opportunity to our state.”

Read more: AZ Forecast