/ Modified dec 19, 2013 3:13 p.m.

AZ Unemployment Rate Down in November

7.8% jobless, down from October's 8.2%; retail shopping season ramp-up, overall improvement cited.

Listen

LISTEN

Arizona’s unemployment rate took a significant drop in November, to 7.8 percent.

That’s tied for the lowest number for the state since late 2008. It still falls well below the national average of 7 percent.

Major gains came in annual holiday retail jobs.

“So the retail trade gained about 12,500 people," said economist Aruna Murthy, "And this was preparation for the upcoming holiday season.”

The last time the unemployment percent was this low came in May, but it has since jumped as high as 8.3% before dropping back down this month.

If current trends continue, 2014 should see further drops in the rate.

“If you look at overall non-farm job gains since 2009," said Murthy, "things are gradually improving. I think the next year will certainly be a better year overall compared to job gains than this year.”

The November unemployment rate was slightly lower than much of the last 12 months, so Murthy's prediction could mean further drops.

By posting comments, you agree to our
AZPM encourages comments, but comments that contain profanity, unrelated information, threats, libel, defamatory statements, obscenities, pornography or that violate the law are not allowed. Comments that promote commercial products or services are not allowed. Comments in violation of this policy will be removed. Continued posting of comments that violate this policy will result in the commenter being banned from the site.

By submitting your comments, you hereby give AZPM the right to post your comments and potentially use them in any other form of media operated by this institution.
Arizona Public Media broadcast stations are licensed to the Arizona Board of Regents. Arizona Public Media and AZPM are registered trademarks of the Arizona Board of Regents.
The University of Arizona