The burdens presented by occupational licenses have been an issue of national discussion in recent years, and one that has bridged the partisan divide. Both President Barack Obama and President Donald Trump advocated for reforms to allow more Americans to get to work more quickly considering the sharp increase in these licensing requirements over the last several decades.
Arizona added 16,100 nonfarm jobs in April (+0.53%) and the Unemployment Rate declined by 0.1 percentage points to 3.2% – the lowest unemployment rate ever recorded in the state. Revisions to March were minor, and the non-farm measure of employment continues to show a decline last month even as total employment (measured by another survey) continued increasing.
Consumer prices in the United States continued their record ascent in April, rising 8.3% over the last 12 months – among the highest rates in forty years. At 11.0%, price inflation in the Phoenix metropolitan area remains both well above the national average and at the highest levels ever recorded for the city.
Arizona added 9,700 jobs in January and the Unemployment Rate declined by 0.2 percentage points to 3.7%. Since April 2020, the State has added over 364,100 jobs and regained 101% of its pandemic-related job losses – making it one of only 10 states to have passed its pre-pandemic peak.