Learn About the Arizona Unemployment Rate
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Within the United States, the unemployment rate is what measures the number of workers currently jobless in the labor force. The unemployment rate is measured as a percentage for each state within the country and the country as a whole. In order to find out the jobless rate, the total amount of unemployed workers is divided by the number of workers in the entire labor force, which provides the percentage of workers without employment. For those wondering what constitutes employment, it includes workers who spend a minimum of 15 hours of work unpaid within their household, as well as those workers with temporary or part-time work. The jobless rate factors those who fall outside of those parameters as unemployed. Keeping track of the unemployment rate within the U.S. and on a state level is beneficial, as this number is a direct reflection of how the economy is doing, as well as determines budgetary allowances for each state.
What is the unemployment rate in Arizona?
For those asking, “What is the unemployment rate in Arizona?” the most recent statistic is 5.1 percent as of May 2017. This unemployment rate in Arizona has risen from what was measured in April as 5 percent. This fluctuation in the jobless rate is due to the loss of 14,700 non-farm jobs within the state. The sector in Arizona that lost the most jobs from April to May was the government, which lost over 9,000 positions, with business and professional coming in next, down over 2,000 jobs. For those in Arizona struggling with unemployment, state unemployment insurance benefits may be available depending on eligibility. It is important to understand the requirements for applying, as well as the application process within the state.
Comparatively, the overall unemployment rate in Arizona has drastically increased from 2016, with over 68,000 new jobs added and a 2.6 percent overall growth. With this type of increase in Arizona, the forward momentum in 2017 is already reflecting the state to outpace the country in terms of overall job growth potential.