Annual Features: Arizona Prices in the 21st Century

Arizona lost 2,500 nonfarm jobs in August (-0.07%) – putting Arizona near the bottom (41st) among all states in monthly job growth.

Inflation as measured by the Consumer Price Index (CPI) for the Phoenix metro area rose 2.3% year-over-year in August

The 2024 preliminary benchmark yielded a reduction in the level of U.S. employment of 818,000 jobs (-0.5%), representing the largest revisions since 2009.

Job growth was slower than the U.S. average, with the Grand Canyon state shedding 1,900 jobs  (-0.06%) over May. Year-over-year growth was 1.9% (down from 2.3% in May).