Arizona 4th in the country in job growth

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By Catherine Holland By Catherine Holland

PHOENIX -- The job market in the state of Arizona is giving residents a reason to feel optimistic.

A new study by research professor Lee McPheters at Arizona State University’s W.P. Carey School of Business reveals that job growth in Arizona increased by 2.4 percent from July 2011 to July 2012.

Arizona enjoyed the fourth biggest job growth increase in the country, finishing behind only North Dakota, California and Oklahoma.

Phoenix also outpaced most major cities in job growth, improving by 2.9 percent from July 2011 to July 2012. Only three cities -- San Francisco, Houston, and Denver -- had more job growth than Phoenix.

“Arizona moved up to fourth place in the job-creation rankings, and I expect it to rank among the top 10 states for the year as a whole,” said McPheters. “This would be a big improvement over 2010, just two years ago, when the state ranked 49th in annual employment growth. Big gains in the retail sector have helped.”

Job growth for the entire United States improved by 1.4 percent from July 2011 to July 2012, with the number of jobs increasing by 1.83 million.

Eight states have lost jobs since last July. Those states include Alaska, Mississippi, Missouri, New Hampshire, New Mexico, Rhode Island, Wisconsin, and Wyoming.

For more job growth information visit www.wpcarey.asu.edu/bluechip/jobgrowth.