Phoenix's Diversified Job Market: Steady Growth, Shifting Dynamics

Phoenix’s job market remains solid but cooling from its post-pandemic surge. The U.S. Bureau of Labor Statistics reports metro Phoenix nonfarm employment growth of roughly 1% over the past year, slower than earlier in the decade but still positive. Local unemployment has hovered around the mid-3% to low-4% range recently, close to or slightly below national levels, though final December 2025 metro figures are not yet published, which is a key data gap.

The employment landscape is broad-based. Advanced manufacturing, construction, healthcare, financial services, logistics, and tech-enabled services all contribute meaningfully to job creation. The Arizona Commerce Authority no...