The employment report for Arizona was released last week. Unemployment continues to drop as Arizona has reached 8.6% unemployment. there were 18,900 new job created in March throughout Arizona. There are 47,000 more jobs as of the end of March when compared to the same time last year.
Looking deeper into the report at the Maricopa County and Metro Phoenix numbers we see even better results as unemployment dropped to 7.5%. I keep looking for a bump in construction jobs as more new homes are being built. With home values rising, new homes make sense again. Buyers are flocking to the new home subdivisions.
Before heading out to view a new home subdivision, you should bring your realtor. Your realtor will be able to advise you on important details through the new build process. It is wise to check the resale opportunities prior to moving forward on a new build. You want to make a wise and informed decision. In order for the builder to compensate your realtor, the realtor must accompany you on your first visit.
Many people don’t want to bother their realtor when taking a casual stroll through a new home subdivision. Believe me, your Realtor prefers to go to too many subdivisions than to have a problem with a builder and not get paid.
Let’s hope the increase of new home sales begins to add more construction jobs.
Arizona Jobs Report for March 2012 – Click Here to read the full report
Job Gains Across All Sectors; Above Average Gains in Seven of Eleven Sectors
Arizona’s seasonally adjusted unemployment rate
dropped to 8.6% in March after two consecutive
months at 8.7%. The U.S. unemployment rate also
edged down one‐tenth of a percentage point from
8.3% the previous two months to 8.2% in March. A
year ago the Arizona rate was 9.6% and the U.S. rate
was 8.9% (see figure 1).
Arizona’s economy added 18,900 Nonfarm jobs or
about 0.8% in March. This was the largest over‐the‐
month gain in March since 2006, higher than the ten‐
year (‘02‐’11) average of 12,300 and the pre‐
recession (‘98‐’07) average of 18,000. Since 1990,
Arizona has added jobs in March each year except
2008 and 2009 (see figure 2).
The Private Sector accounted for almost 97% of the
gains, adding 18,300 jobs, which was above the
historic average. The ten‐year (’02‐’11) average in
March for the Private Sector was 12,700 and the pre‐
recession (‘98‐’07) averag
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