Jobless rate take big jump
Phoenix, AZ – More than 26,000 people lost their jobs last month. That shot the seasonally adjusted unemployment rate up a half a point to 9.2 percent. Overall, the number of people who have jobs in Arizona has dropped by nearly 335,000 since the beginning of the national recession in December 2007. That's a decline of more than 12.3 percent. And nearly 200,000 of those jobs were lost in the last year alone. But economist Jack York said there were a few industries that bucked the trend including aerospace and professional services. He said the wars in Iraq and Afghanistan may be a factor.
(It also may be related to the federal stimulus program because
they do need technical assitance in implementing or beginning to
implement all the infrastructure projects they have in mind.)
Marilyn Hewett who handles employment statistics for the
Department of Commerce, said those federal stimulus dollars
should help rescue the beleaguered construction industry --
(Even if something is what they call 'shovel ready,' they have to
go through a lot of technicalities with construction contracts.
And it takes time.)
Despite the anticipated input of stimulus dollars, York said the
Department of Commerce is still predicting Arizona's jobless rate
eventually will hit at least 10 percent sometime in 2010 before
subsiding. For Arizona Public Radio this is Howard Fischer.