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14,400 New Jobs for November! Right on! A new RECORD! However, the unemployment rate jumped to 4.1%, from the previous 3.5%. Construction continued its slide loosing 3,100 and Professional and business services lost 1,300 jobs. I have to wonder if that is all the loan officers, title agents and real estate agents that have lost their jobs. I must say I believe that number is much higher. I don't know how they could count the Realtors out of work, because they can continue to hang their license even though they are out of a job. The word I hear from all the active Realtors I talk to is their offices are morgues.
I am very happy to see we are still creating jobs. The low unemployment across the country is keeping us from recession right now. Let's hope that trend continues. Keep them employed and they will keep spending money. Keep spending money and we keep creating jobs!
OVERALL, I see this as great news for Arizona!
FROM THE REPORT:
"Arizona’s seasonally adjusted unemployment rate was 4.1 percent in November. While the state’s jobless rate increased six-tenths of one percent from October, the November rate is at the same level as one year ago and below the national rate, which remained at 4.7 percent for
the third consecutive month.
Arizona’s economy added 14,400 jobs in November to reach a record total of 2,753,500 nonfarm jobs. The gain was less than what is normally expected for the month of November.
But over-the-year employment growth for Arizona (1.5 percent) remains above the U.S. growth rate (1 percent)."
Read the full report through the link below:
http://www.workforce.az.gov/admin/uploadedPublications/2631_PrDec07.pdf
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