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Phoenix unemployment plunges to 3.7%Phoenix unemployment plunges to 3.7%<div class="ExternalClassF333F48D0CC04D9D99670A5CE82583AE"><p>The Phoenix metro unemployment rate plummeted 0.3 percent to 3.7 percent for October 2017, according to the newest employment report from the Arizona Office of Economic Opportunity.</p><p>The state unemployment rate dropped to 4.5 percent. Nationally, the rate is 4.1 percent.</p><p>The metro area workforce increased to 2.3 million, a net gain of 34,600, 1.7 percent, over the same month last year. Statewide, there was a net gain of 32,000 jobs, with nearly 4,000 job losses reported in Tucson, and less than 1,000 each for Flagstaff and Prescott. The losses offset workforce gains in Phoenix, Sierra Vista-Douglas and Lake Havasu-Kingman. Yuma had no change in workforce.</p><p>Manufacturing jobs in the Valley increased by 4,200 over October 2016, the 10th consecutive month of job gains in the sector. The 3.5 percent increase over last year puts the workforce in the manufacturing sector at 124,200, compared with 111,200 in construction. In October 2008, there were 130,000 construction workers in the Valley according to AOEO and 113,000 in manufacturing.</p><p>Food service and drinking establishments hired the most new workers in October, 10,100 over last year. Health care and social assistance at 6,700 were second on the list. Professional, scientific and technical service workers added 5,400.</p><p>The number of local public education jobs decreased by 3,300 from last year. In information and telecommunications, the number of jobs declined by 2,400.</p><p>Looking at the changes in employment over the past decade shows a measurable shift in the economy into advanced industries. Advanced industry employment is now more than 61 percent of the private sector workforce, compared to 45 percent in 2007.</p><p>“The increase in advance industry jobs in Phoenix shows that our focus on building a more innovation-based economy is paying off,” said Phoenix Mayor Greg Stanton. “We’re going to continue our work to build an economy that works for every Phoenix family.”</p><p>Construction, mining and government all have fewer employees today than October 2008. Logistics, trade, wholesale and retail employment is up 4.2 percent, while total private employment is 12.3 percent higher in October 2017 compared to October 2008.</p><p>Education and health services increased workforce by 36.6 percent over the past ten years, leisure and hospitality are up 25.7 percent and manufacturing is up 22.6 percent.</p><table style="width:100%;"><tbody><tr><th>Sector </th><th>Oct. 2017 </th><th>Oct. 2008 </th><th>Change </th><th>% Chg </th></tr><tr><td> Educational, Health Services </td><td>307.4</td><td>225.0</td><td>82.4</td><td>36.6%</td></tr><tr><td>Professional, Business Services</td><td> 352.5 </td><td>303.8</td><td>48.7</td><td>16.0%</td></tr><tr><td>Leisure and Hospitality</td><td> 226.9 </td><td>180.5</td><td>46.4</td><td>25.7%</td></tr><tr><td>Financial Activities</td><td> 182.4 </td><td>149.1</td><td>33.3</td><td>22.3%</td></tr><tr><td>Manufacturing</td><td> 124.2 </td><td>101.3</td><td>22.9</td><td>22.6%</td></tr><tr><td>Trade, Transportation, Utilities</td><td> 392.8 </td><td>377.0</td><td>15.8</td><td>4.2%</td></tr><tr><td>Information</td><td> 33.9 </td><td>30.2</td><td>3.7</td><td>12.3%</td></tr><tr><td>Natural Resources, Mining</td><td> 3.2 </td><td>3.9</td><td>-0.7</td><td>-17.9%</td></tr><tr><td>Government</td><td> 247.6 </td><td>253.5</td><td>-5.9</td><td>-2.3%</td></tr><tr><td>Other Services</td><td> 61.0 </td><td>72.1</td><td>-11.1</td><td>-15.4%</td></tr><tr><td>Construction</td><td> 111.2 </td><td>130.0</td><td>-18.8</td><td>-14.5%</td></tr></tbody></table><h3>Images</h3><p><em>Caption: </em>Since the Great Recession started in 2008, advanced industries have gained the most jobs in the Phoenix metro.<em>Credit:</em> City of Phoenix. <em>Link: </em> https://www.phoenix.g​ov/econdevsite/MediaAssets/JOBS-20171116-Compilation-of-jobs-gained-2017-2008.jpg <br></p><p><em>Caption: </em>Over the past ten years, the job gains and losses have shown the Phoenix metro employment picture is shifting into a more sustainable economy. <em>Credit: </em>City of Phoenix. <em>Link: </em> https://www.phoenix.gov/econdevsite/MediaAssets/CEDX-201710-Oct-2017-Jobs-Data-Change.jpg </p></div>11/22/2017 7:00:00 AMEric Jay TollEric Jay Toll602-617-3797