Phoenix, AZ – December 2023 Jobs Report – Valley of the Sun Shines on Job Growth Despite Holiday Dip

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Overview: The December 2023 jobs report for Phoenix paints a promising picture with overall employment up, despite a slight decline from November and some seasonal fluctuations. The unemployment rate remains low, highlighting a positive outlook for the Phoenix job market in 2024.


  • Unemployment rate: 3.4%, remaining steady and below the national average.
  • Job gains: Financial Activities, Private Education & Health Services, Trade, Transportation & Utilities, and Professional & Business Services sectors added jobs in December.
  • Year-over-year growth: Positive employment growth compared to December 2022 in most industries.

Industries and Occupations that Grew:

  • Financial Activities: Banks, insurance companies, and related businesses added the most jobs, potentially due to year-end financial activity.
  • Private Education & Health Services: This sector includes healthcare providers, educational institutions, and social services, all of which saw job gains.
  • Trade, Transportation & Utilities: Retail, transportation, and logistics businesses benefited from holiday shopping activity and increased demand.
  • Professional & Business Services: This broad sector includes legal, accounting, and management services, experiencing job growth in December.

Industries and Occupations that Shrunk:

  • Construction: This industry typically experiences a slowdown during winter months.
  • Government: Public sector employment saw a modest decline.
  • Manufacturing: Job losses in this sector were minimal.
  • Other Services: This includes personal care and laundry services, which may have seen reduced demand during the holidays.

Comparison to Same Month Last Year:

  • Overall employment: Up 1.8% compared to December 2022.
  • Unemployment rate: Down from 4.2% in December 2022.

Comparison to Previous Month:

  • Overall employment: Down 0.1% from November 2023.
  • Unemployment rate: Down from 3.5% in November 2023.

Future Outlook:

The Phoenix job market is expected to continue growing in 2024, with opportunities across various sectors. Here are 10 occupations anticipated for significant growth:

  1. Registered Nurses
  2. Software Developers and Software Quality Assurance Analysts
  3. Home Health Aides
  4. Personal Care Aides
  5. Wind Turbine Service Technicians
  6. Sales Representatives
  7. Customer Service Representatives
  8. Marketing Specialists
  9. Physician Assistants
  10. Truck Drivers

10 Companies Hiring Now:

  1. Banner Health
  2. Mayo Clinic
  3. Honeywell Aerospace
  4. JPMorgan Chase
  5. Wells Fargo
  6. Freeport-McMoRan
  7. PayPal
  8. Intel Corporation
  9. American Express
  10. University of Arizona