by Valorie Hanni Rice, Senior Specialist, Business Information
Arizona job numbers for January were released March 12. The unemployment rate for Arizona was 6.6% in January, no change from the revised December figure. Over-the-year job growth in Arizona was 2.5% in January, faster than the national rate of 2.3%. Along with January figures, revisions for the prior two years were released. Employment for 2013 was revised up, resulting in an annual growth rate of 2.3%. Employment in 2014 was revised up by just 400 jobs, resulting in an annual growth rate of 1.9%, which matched the U.S. growth, but was a downward revision from what was originally published as a result of the larger gains in 2013.
Producer prices fell 0.5% in February on a seasonally adjusted basis, with both final demand goods (-0.4%) and final demand services (-0.5%) decreasing for the month. On an unadjusted basis, the 12-month change in final demand was also in negative territory (-0.6%).
Arizona initial applications for unemployment were higher in the third week of February, but still below the 4,000 mark at 3,724. The four-week average was 3,705, 87 lower than the week previous. U.S. jobless claims dropped 36,000 the first week of March, to a seasonally adjusted 289,000. The four-week moving average was also lower, moving to 302,250.
Hands and calculator photo courtesy Shutterstock.