The Office of Economic Opportunity (OEO) is projecting Arizona employment to increase from 2,853,646 jobs in Q2 2020 to 3,178,686 jobs in Q2 2022. This represents growth of 325,040 jobs or 5.5% annualized growth. Over the previous two years (Q2 2018 to Q2 2020), employment declined by 155,360 jobs (-2.6% annual change), from 3,009,006 jobs to 2,853,646 jobs. Nearly all of the job declines recorded from Q2 2018 to Q2 2020 were lost in Q2 2020, because of the economic impacts of the COVID-19 Pandemic. For comparison, U.S. employment declined by 5.4% annually from Q2 2018 to Q2 2020.
2020-2022_projectionsnarrativeSource: Arizona Office of Economic Opportunity
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