Arizona job seekers take heart - you are not alone in your search for employment, especially if you're in the construction industry.
According to the Census Bureau's County Business Patterns report, the state had the fifth-highest job losses among states from 2007 to 2009, losing more than 281,000 jobs and more than 8,800 businesses, reports ABC 15. The amount of closed businesses, whether due to bankruptcy or other reasons, represents the ninth-highest number in the United States.
Although knowing that many people across the state are dealing with a lack of jobs may not be of much consolation, the situation is (slowly) improving.
Officials from the Arizona Office of Employment and Population Statistics have stated that the situation is improving with the unemployment rate dropping from 10.4 percent in November 2009 to 9.1 percent in May 2011. However, we aren't out of the woods yet.
The construction industry was the hardest hit, losing 90,465 jobs and 1,340 firms. Unsurprisingly, construction businesses have been the source of numerous filings for bankruptcy in Arizona, and the unemployment rate in the industry was at 27% in 2010, almost triple the overall unemployment rate.
Professionals in the industry are not too optimistic for the near future, citing the still-constant housing surplus and high residential and commercial surplus rates, reports ABC 15. In addition, construction work in some rural areas disappeared by at least half.
However, hope remains for struggling Arizona job seekers as officials see some small improvement in the numbers.
"We are digging out of a hole here," Frank Curtis, director of labor statistics for the state employment office, told ABC 15.
Related Resources:
- Find a Phoenix Bankruptcy Attorney (FindLaw)
- Arizona Still Mired in High Job Losses (Phoenix Business Journal)
- How to Cope with Job Loss (Findlaw's Common Law)
- Unemployment Rate in Arizona Drops to 9.5 Percent (Phoenix Bankruptcy Blog)
ShareThis
