Arizona's jobless rate climbs fourth month in a row

Arizona's unemployment rate rose in July for the fourth consecutive month, which dampens news that the state's longer-term job growth remains relatively better than the nation's.

Arizona's unemployment rate rose in July for the fourth consecutive month, which dampens news that the state's longer-term job growth remains relatively better than the nation's. From The Arizona Republic, August 18, 2016:

Lee McPheters, director of the JPMorgan Chase Economic Outlook Center at the W.P. Carey School of Business at Arizona State University, said the state is among the leaders nationally in its rate of job growth and continues to see a promising mix of higher-wage industries. Still, recent population gains may be bringing in more potential workers than the economy can absorb, raising the unemployment rate, he said. “It’s concerning,” McPheters said of the rising unemployment rate. “There’s maybe some question of the skill set of the people we’ve added. The basis of the concern is we don’t have any numbers on it. It’s all speculation right now.”

Lee McPheters is a research professor of economics for the W. P. Carey School of Business at Arizona State University and Director of the school’s JPMorgan Chase Economic Outlook Center.

About Lee McPheters