Arizona Leads in Job Growth in October

TEMPE, Ariz. (November 30, 2006) - Arizona knocked Nevada out of the top spot in total nonagricultural job growth for October 2006 over October 2005, with a 4.7 percent increase representing 121,200 jobs, according to the current issue of the Blue Chip Job Growth Update. Michigan again reported the lowest growth rate, with a 0.6 percent decrease (27,200 jobs).

Among metropolitan markets with a workforce of over 1,000,000, the Phoenix-Mesa-Scottsdale, Arizona metropolitan area retained the top position in nonagricultural employment for October 2006 over October 2005, with a 5.2 percent gain, which represented 94,500 jobs. The New Orleans-Metairie-Kenner, Louisiana metropolitan area bounced back from the post-Katrina doldrums to rank first among metropolitan markets with under 1,000,000 workers, posting a 12.6 percent gain (49,700 jobs).

Overall, the U.S. economy grew by 1,921,000 nonagricultural jobs in October 2006 over October 2005, a 1.4 percent increase.

The Blue Chip Job Growth Update has been the first-to-user source of complete federal employment data since its inception in 1992. It presents data compiled from the U.S. Bureau of Labor in an easy-to-read format, permitting state-to-state comparisons within 24 hours of the release of the data. The National Consensus Forecast of Labor Employment, Compensation and Productivity, which appears quarterly in the Job Growth Update, contains information from a panel of leading economists around the country.

The Blue Chip Job Growth Update is available online to subscribers. A sample issue and subscription information are available online at http://wpcarey.asu.edu/jgu.

W. P. CAREY SCHOOL OF BUSINESS

The L. William Seidman Research Institute in the W. P. Carey School of Business at Arizona State University is an affiliation of six research centers that serves as a link between the local, state, national and international business communities and the creative and intellectual resources of the nationally ranked W. P. Carey School of Business. For more information please visit www.wpcarey.asu.edu.

Dawn McLaren, economist
(480) 965-7265
Dawn.McLaren@asu.edu
Erin Concors, media relations
(480) 965-9271
Erin.Concors@asu.edu