Workforce
The Greater Phoenix region remains one of the country’s best performing metro areas for employment growth and has evolved into a highly resilient economy. How is the population changing in Arizona? How many children are entering the educational system? Are they succeeding and do they then participate in Arizona’s growing economy?
Arizona Economic Insight visuals are designed to be intuitive and easy to navigate. You can also make the most of them with a few quick tips:
- Latest Data First: Top of most visuals give you cards that show the current data point or a dynamic narrative about the economy.
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- Have more questions: contact msauncy@phoenixchamber.com
Population
Where people are moving in Arizona gives an indication of economic changes. While counties with major cities may grow more by number of people, this may be less than the percentage change in other counties.
Education
Arizona’s educational outcomes directly affect workforce engagement. Some key indicators are how many children are entering Kindergarten? How many of these students are passing eighth grade math? How many students are graduating high school? How are these key metrics changing over time?
Job Openings & Labor Turnover
The Bureau of Labor Statistics gathers monthly data from businesses on labor. Job changes are compared below in Arizona and the United States.
- Hires – all additions to the payroll during the month
- Job Openings – All positions that are open (not filled) on the last business day of the month
- Quits – Employees who left voluntarily with the exception of retirements or transfers to other locations
- Layoffs & Discharges: Involuntary separations initiated by the employer
- Separations – all employees separated from the payroll during the month
Industry Wages
The Bureau of Labor Statistics gathers quarterly data from businesses on employee wages. Annual pay and weekly wages by industry are compared below in Arizona’s counties, Arizona, and the United States.
Number of Establishments
While collecting industry wages and pay, the Bureau of Labor Statistics gathers an idea of how many business establishments there are per industry. See below a comparison of industry change in Arizona and the United States. Industries are categorized by NAICS sector (NAICS, or the North American Industry Classification System).
Number of Employees
Industry growth can be viewed by number of establishments or by how many employees are moving into certain industries. Comparing the number of establishments to the number of employees provides valuable insights into the structure, size, and efficiency of different sectors of the economy.
Unemployment
Unemployment measures the percentage of individuals that are unemployed and seeking employment.
"The Greater Phoenix region remains one of the country’s best performing metro areas for employment growth and has evolved into a highly resilient economy. This is due to a diversified employment base across a broad range of industries, which allowed the Greater Phoenix region to recover the approximate 250,000 jobs lost during the COVID-19 pandemic, about a year ahead of the U.S. average."
State of the Workforce
The Greater Phoenix Chamber’s State of the Workforce Report provides perspective on the extent a skilled workforce, combined with the right competitive economic attributes, will support the labor demands of the next decade and beyond. This report includes detailed analysis of workforce trends and issues, like this highlight below on childcare:
Employed Workers that missed work due to childcare problems
The United States Bureau of Labor Statistics reports the number of employed workers missing work due to childcare problems in the Current Population Survey. This chart reflects the level of employed workers struggling with childcare has increased significantly since COVID-19.
Economy
Economic metrics provide a snapshot of the status of Arizona’s economy and tracks progress toward economic recovery.
Housing
Arizona’s housing market and commercial real estate sectors will be key indicators during the post COVID-19 recovery.
Workforce
Monitoring workforce, job creation and retention, and talent pipeline data is fundamental to supporting the economy.