We all see it! The increased construction, traffic & list of unfilled positions. What’s going on? The simple answer is growth. The Arizona job market is expanding at a tremendous rate. Our employment is projected to increase by 165,000+ new jobs in 2020. There’s no question that Arizona’s job market is booming. “Arizona is open for opportunity — and the word is out,” said Governor Ducey “. For the third year in a row, more people are moving to Maricopa County than any county in the nation. New companies, corporations, & open positions flood the streets of The Grand Canyon State. So, what are the top industries currently dominating the job market? Why is Arizona growing so rapidly?

 

 

Arizona’s Fastest Growing Industries:

  1. Health care and social assistance: Health care has experienced a 15% increase year over year. The Health Care industry needs more RNs, Medical Assistances, Caregivers, Health Techs, and much more. This may seem like a huge problem. However, the good news is Arizona has seen an increase in medical professionals moving to the state due to competitive wages.
  2. Construction: If you think 115-degree weather would put a damper on construction projects, you’re wrong! Arizona is one of the nation’s leading employers for construction workers, employing over 167,000+ people. According to Arizona Office of Opportunity we’re estimated to add an additional 18,000 positions by the end of 2020.
  3. Manufacturing: Has & all ways will be a huge part of Arizona, pumping billions of dollars into the economy. The Manufacturing industry employs over 228,000+ workers, making a huge contribution to the Arizona Job Market and expected to add an additional 8,000 Positions by the end of 2020.
  4. Technology: Arizona is becoming known as the new Silicon Valley. Technology is advancing at such a huge rate; Arizona is reaping the rewards. There are over 8,000 Tech companies in Arizona adding over 178,000+ positions to the economy. With more start ups and big corporations moving to the valley these numbers could nearly double within the next 5+ years.

 

 Why is Arizona growing so rapidly?

Does anybody really know? It could be our 75-degree winters. Maybe the cost of living or vast amount of opportunity for individuals to grow their careers. A recent study came out that Arizona and Phoenix long have been top locations for people relocating from other, often colder, parts of the country. Much of the recent surge in population can be attributed to the Valley and state’s booming economy. Some of the biggest benefits when moving to Arizona are the housing & employment opportunities.

The question is not, if Arizona is advancing rapidly, the question is can we handle the growth?

Contact our office at 602-277-3381 for a free consultation.