Phoenix Overview

The recession left Phoenix with abandoned homes and construction projects, but the Phoenix job market and economy are starting to show signs of revival. While it may be some time before Phoenix and its 2 million workers see robust times again, the city is expected to see a good pace of recovery in the near term.

Phoenix Job Opportunities

The Phoenix region is home to aerospace, bioscience, IT, software and renewable-energy companies. The Phoenix economy depends on its largest private employer, Banner Health System, as well as on Arizona State University’s expanding research capabilities.

The trade, transportation and utilities industry dominates employment in Phoenix. Other critical industries include professional/business services, education/health services and government. With the exception of recent mixed performance in government and other services, every other sector has shown job growth.

Phoenix Employment Trends

After declining for years, Phoenix job trends are positive. The city’s unemployment rate, which peaked at 10.6 percent in January 2010, was below 8 percent in early 2012. After a three-year decline, city payrolls expanded consistently in 2011, a trend that has continued in 2012. Online hiring has been gradually increasing, yet remains below prerecession levels.

Moody’s Analytics expects Phoenix jobs to increase by 2.7 percent between Q2 2012 and Q2 2013, more than the 1.3 percent growth expected in the US job supply over that time.