The Bureau of Labor Statistics released new unemployment data for Arizona, revealing the state鈥檚 unemployment rate has declined for the fourth month in a row.

In October 2021 the , which was a full percentage point down from two months earlier. This rate is also about one-third of what the unemployment was at 础谤颈锄辞苍补鈥檚 peak during the pandemic鈥檚 proliferation in 2020. 

The state鈥檚 rate, however, was still higher than the national average. The was at 4.6% for the month of October, down from COVID-19 spike in March 2020 which was at 5%.

鈥淟ast year, there were 21 million unemployment insurance claims before the Thanksgiving holiday. Today, there were 2.4 million,鈥� said. 鈥淭his is a historic jobs recovery: 5.6 million jobs created since I took office.鈥�

Arizona mirrors this tremendous national trend in . The week before Thanksgiving 2020 there were 404,748 jobless claims in Arizona, and this week there were only 19,067. In October there were 3.65 million people in the Arizona job force, which was the most since 1976. 

The increase in jobs in Arizona was across nearly every category. The largest increase was in the leisure and hospitality industry, which took a beating due to pandemic-induced travel restrictions, lockdowns, and other public health measures enacted to slow COVID-19鈥檚 spread. The industry saw a in jobs since last year.

Looking to other sectors, there was a 6.4% increase in professional and business service jobs, a 5.5% increase in trade, transportation, and utility sector jobs, and a 1.3% increase in construction jobs. The number of government jobs remained approximately the same and information jobs declined by 0.9%. Despite these variations among sectors, the overall gains have been impressive.

According to the , improvements in the job market have helped drive increases in wages and disposable income. However, those gains have been tempered by a surge in inflation, and Arizona is no different. Prices for almost everything in the Phoenix metro area are, and it is experiencing higher inflation than the national average. The consumer price index rose 6.2% from October 2020 to October 2021 in Arizona, with energy costs on the rise at 23.3%, high food prices, and the price of gasoline up 46.8%.

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One of the largest banks in the world recently reported the hiring of 10,000 new employees, all from low-income neighborhoods. 

Bank of America鈥檚 new program helps provide long-term career opportunities for those who wouldn’t otherwise have the resources and support necessary to find higher-paying occupations with potential for long-term growth. 

The Pathway program focuses investment into five major markets in the U.S., including Phoenix. 

Not only did Bank of America achieve its goal of hiring 10,000 new employees from low- and moderate-income (LMI) neighborhoods, but they did it ahead of schedule. The program’s viability has led Bank of America to commit to hiring another 10,000 from LMI neighborhoods by the year 2025. 

How the program works

Bank of America has partnered with , an organization focused on bringing equitable access to economic opportunity and education for young adults. The group provides direct service to young adults of all backgrounds. Through strategic partnerships, including the one with Bank of America, Year Up is able to connect young adults who are struggling financially with talent providers, employers, and policymakers. 

Local partners of Bank of America have also stepped up in support of the Pathway program. Along with Year Up, companies including Dress for Success, St. Joseph the Worker, Boys and Girls Club, and A New Leaf have worked to provide the program with access to specialized education and training that is necessary to give participants a greater chance at long term career opportunities. Other partnerships include community colleges, UnidosUS, and the National Urban League. 

While Pathway has established a talent pipeline through these strategic partnerships, the main piece of the program is Bank of America鈥檚 in-house education platform called . The Academy is by Bank of America as 鈥淎 best-in-class learning approach that is designed to set them up for success throughout their careers providing a full range of ongoing professional development programs using industry-leading innovation including client engagement simulators, virtual reality, interactive labs, boot-camps, and instructor-led coursework.鈥� 

How it helps business 

The program does not simply provide jobs for those in low-income neighborhoods, it establishes a reliable pipeline of talent that can be used to fill jobs that have long-term career growth potential. 

鈥淭his work furthers the bank鈥檚 longstanding commitment to creating equal employment opportunities for all by building a strong, diverse talent pipeline through hiring and recruiting, including from LMI neighborhoods, continuing our ability to mirror the clients and communities we serve,鈥� Bank of America said in a statement. 

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础谤颈锄辞苍补鈥檚 economy continues to post record gains and steam forward as an innovative powerhouse. 

The July 2021 employment report from the Arizona Office of Economic Opportunity revealed the state鈥檚 private sector added more than 16,000 new jobs in July, which is 鈥渢he only time in the last ten years that Arizona has added jobs in the month of July,鈥� said Patrick Ptak, the senior vice president of executive initiatives at the Arizona Commerce Authority.

Unemployment on the decline

Following a precipitous rise in unemployment in 2020, Arizona is now on track to hit pre-pandemic lows.

According to the Arizona Commerce Authority, 鈥淎rizona jobs growth and recovery is outpacing the U.S. across every private sector.鈥� While the American labor force is still below its peak in February of 2020, 础谤颈锄辞苍补鈥檚 labor force is 1.3%, or 47,869 workers larger than it was in February 2020.

The professional and business services sector, leisure and hospitality, and the finance industry have seen large employment gains.

Geographical differences

While Arizona has seen jobs growth across the state, certain regions and cities have been impacted differently. Lake Havasu City, Kingman, Phoenix, Mesa, Scottsdale, Prescott and Flagstaff have experienced positive nonfarm jobs growth, while Sierra Vista, Douglas, Tucson, and Yuma have dipped.

Interestingly, from February of 2020 to July of 2021, only three economic regions have fully recovered from the pandemic鈥檚 effects on unemployment: Sierra Vista-Douglas, Lake Havasu City-Kingman, and Prescott.

Travel is back

The number of people traveling through airports is nearly back to its March 2020 high, signaling that people are flying again. 

础谤颈锄辞苍补鈥檚 Sky Harbor International Airport and Mesa Gateway airport generate tens of billions in economic impact for the state.

Despite the occasional business interruptions from the COVID-19 pandemic, the state鈥檚 economy has proven resilient. Policymakers and elected officials are anxiously watching the spread of the Delta variant, however, and assessing its potential impact on the economy. 
For more resources on the vaccine and how and where to get vaccinated against COVID-19, visit .

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Technology salaries and tech job growth in Arizona are outpacing much of the nation, according to two new reports. 

Metropolitan Phoenix is experiencing some of the fastest growth in the nation in tech wages, according to a new report, In 2020, salaries increased 7.6 percent to an average $95,514, the data shows. 

That鈥檚 more than double the national average of 3.6 percent growth. It鈥檚 also not far behind the national average salary of $97,859. 

As Phoenix jumped to seventh on the list of major cities with the fastest-growing tech salaries in 2020, the state also saw a 6.2 percent increase in tech industry employment, according to a report by the .

Steven G. Zylstra, president and CEO of the council, attributes much of the growth to the pandemic. 

鈥淭he COVID-19 pandemic has increased demand for technology,鈥� Zlystra said. 鈥淔rom digital tools and services designed to keep a remote workforce secure and connected, to medical devices critical to fighting the virus, the entire world has relied on technology to keep citizens safe and economies running over the past year.鈥�

As a result, the industry is thriving globally, including in Arizona, he said. 

鈥淎s our technology ecosystem continues to grow, there鈥檚 a greater demand for talent which drives salaries up,鈥� Zylstra said. 

Software leads the pack in contributing to higher pay 

础谤颈锄辞苍补鈥檚 has been a key driver of the economy over the last few years, Zylstra said. 

According to the most recent , a comprehensive list of software companies in major U.S. cities, Phoenix is now host to 698 software companies. That鈥檚 up 141 companies in less than a year.

Arizona has also succeeded in attracting a diverse array of industry leaders statewide including the Taiwan Semiconductor Manufacturing Company, Nikola, Lucid Motors and Benchmark, Zylstra said.  

Other tech industries fueling salary hikes in Arizona include:

– Advanced manufacturing

-Electric vehicles

-Aerospace and defense

-Health and bioscience 

-Semiconductor 

More jobs in manufacturing than in construction

As the tech industry has grown, there are now more jobs in manufacturing than in construction, according to the

Last year, the state鈥檚 tech industry surpassed 2019 in a number of key growth metrics, according to the Arizona Technology Council鈥檚 recent fourth quarter.

Highlights from the report show:

-A 29 percent increase in STEM job postings 

-A 6.2 percent increase in employment growth in technology

-A 4.3 percent rise year-over-year in the number of tech firms

Jobs, jobs and more jobs 

The impact report shows that the percentage increases in Arizona pushed the number of tech companies here up to 10,093 and tech jobs up to 201,740. In comparison, tech jobs in California only rose 2.1 percent in 2020. 

For every 100 technology jobs created, 357 new jobs were created in other industries, Zylstra said. 

鈥淪ignificant headwinds associated with COVID-19 will continue to persist, but I am hopeful as I was last quarter the strength of 础谤颈锄辞苍补鈥檚 tech industry will continue to grow,鈥� Zylstra said. 鈥淭hat growth benefits employees, employers, and consumers in every industry in the state.鈥� 

What鈥檚 happening elsewhere 

The nation’s technologists in established and emerging tech hubs saw their salaries increase significantly during 2020, although the nation’s most prominent tech hubs are still the destination for workers seeking the highest salaries, according to the Dice report. 

In New York City, the average technologist salary rose 11.6 percent between 2019 and 2020, hitting $114,274. Boston salaries have reached $111,069, while Silicon Valley’s average pay stands at $126,801, making it the highest-paying tech hub in the U.S. 

Boston and Silicon Valley both achieved salary growth of 2.4 percent. In Austin, salaries rose 9.7 percent to $104,344 during the same period.

Emerging tech hubs also saw some of the highest growth during the year, including Charlotte with a 13.8 percent increase to $99,691, Orlando with a 13.4 percent increase to $88,598 and Detroit with a 7.7 percent increase to $90,110. 

To view the Dice report on salaries nationwide, go to:  

To read more about the state of the technology industry in Arizona, visit:

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Attracting high paying jobs and new industry and securing funding for infrastructure projects are top priorities for 础谤颈锄辞苍补鈥檚 new U.S. senator, Mark Kelly, who spoke to the real estate community Friday. 

At the top of his list, however, is helping to quickly advance a new federal stimulus package to help families and small businesses still struggling from the effects of the pandemic, said Kelly (D), who laid out his priorities at a virtual breakfast meeting of the nonprofit , the voice of the real estate community in the Phoenix region. 

鈥淭here鈥檚 still a lot or work ahead to beat this virus and rebuild our economy. That鈥檚 my focus,鈥� Kelly said. 鈥淲e need to pass this relief bill quickly. Not only to tackle the virus but also to get our economy back on track. That is critical. We need to do that now.鈥�

The U.S. House approved a $1.9 trillion stimulus package Saturday and now it goes to the Senate where there is pressure to approve a package before enhanced unemployment benefits run out on March 14. But its fate clearly is in question. The House proposal was voted mostly along party lines. The bill would provide funds for vaccine distribution, manufacturing, public health, direct payments to families, relief for small businesses, and resources for schools so they can safely reopen. 

Help for seniors in crisis   

Many of 础谤颈锄辞苍补鈥檚 seniors need immediate help as well, Kelly said. They are struggling with severe isolation and an inability to schedule and get to Covid vaccine appointments. Mobile meal services are overwhelmed. 

To address the crisis, Kelly co-sponsored to provide $1.5 billion to the aging network for meal delivery, vaccine outreach, programming, and caregiver support.

Looking ahead  

More than 180 attendees tuned in to hear Kelly list his goals for the coming year. In addition to Covid relief, Kelly listed a number of priorities to further economic recovery in Arizona including: 

Semiconductor manufacturing, military installations 

Attracting manufacturing jobs and protecting 础谤颈锄辞苍补鈥檚 military installations are near the top of the list, said Kelly, a former NASA Space Shuttle pilot and retired U.S. Navy captain and pilot. 

Kelly said he supported the bipartisan CHIPS for America Act passed by Congress in December as part of the annual defense bill. An important piece of the legislation for Arizona are incentives for the domestic manufacturing of semiconductors to compete on the global stage, he said.

鈥淭his will help bring high paying manufacturing jobs to Arizona,鈥� Kelly said. 鈥淣ot only is this important to rebuilding our economy, it鈥檚 also a national security imperative to grow American leadership in our semiconductor sector.鈥�

础谤颈锄辞苍补鈥檚 semiconductor industry is an economic engine for the state. In 2020, the industry in Arizona had an $8 billion wage impact and was ranked No. 4 in the U.S. for semiconductor manufacturing jobs, according to the . 

Light rail, freeway to Vegas, border ports of entry 

Kelly listed several transportation infrastructure projects he supports including funding for the modernization of border ports of entry in Arizona, completion of the Interstate-11 freeway from Phoenix to Las Vegas, and infrastructure projects for tribal and rural areas. 

Another goal is to ensure progress stays on track for a project to extend light rail to connect South Phoenix with the downtown corridor. The U.S.  Department of Transportation鈥檚 Federal Transit Administration recently approved a $529.8 million grant to go towards Valley Metro鈥檚 5.5-mile South Central light rail extension and downtown hub project. 

The grant will cover close to a third of the $1.35 billion project, according to , with another $108 million coming from the Federal Highway Administration. The South Central light rail extension and downtown hub project is scheduled to be completed by 2024.

鈥淓xpansion of Valley Metro light rail is going to continue to connect the region with affordable transportation options and it’s going to lead to  greater economic growth as we work to attract more companies to come to Arizona, which is a priority of mine,鈥� he said.

Renewable energy, broadband, drought 

Other important projects include renewable energy infrastructure and jobs, expanded broadband statewide, and protection and infrastructure for Arizona water supplies, Kelly said. 

鈥淲e cannot grow our economy without securing the future of water in Arizona and we want to grow our economy. We want folks to come here. We want business to come here,鈥� Kelly said.

Bipartisanship

Kelly also spoke about his commitment to work with others on Capitol Hill. 

鈥淭he way we are going to tackle these challenges is by finding common ground and working together,鈥� said Kelly, who was elected in a special election Nov. 3 to finish out the last two years of the vacant seat of Sen. John McCain, who died in 2018.  

鈥淭he legacy of this Senate seat, previously held by Senator John McCain, is one of independence and integrity and working across the aisle. He was willing to stand up for his country and do what he believed was in the best interest of Arizona and our nation,鈥� he said. 鈥淭hat legacy of service, I don’t think it will ever be matched, but it is something we should all strive for, especially right now.鈥� 

Kelly said he will be a strong advocate for all Arizonans and that starts with 鈥渓istening and learning.鈥�

Sen. Kelly鈥檚 committee assignments

As a new senator, Kelly received six committee assignments: 

• Armed Services
• SubCommittee on Emerging Threats and Capabilities 
• Special Committee on Aging 
• Energy and Natural Resources 
• Environment and Public Works 
• Joint Economic Committee

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