Arizona has yet to recover pre-recession job level - East Valley Tribune: Business

Arizona has yet to recover pre-recession job level

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Posted: Wednesday, July 2, 2014 3:15 pm

A new report shows that Arizona ranks next-to-last in its recovery of jobs lost to the Great Recession.

The United States in May finally recovered all the jobs lost to the Great Recession. But 32 states still don't have as many jobs as they did when the recession officially began in December 2007.

Arizona has 5 percent fewer jobs than it did at the start of the recession. Only Nevada has a worse rate.

Professor Lee McPheters of the W.P. Carey School of Business says Arizona is regaining its jobs so slowly because its construction industry was hit hard by the recession. He expects construction to pick up as Arizona's population grows, helping the state regain its jobs in up to three years.

© 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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