Phoenix second in job growth nationally
February 18, 2019
- Metro Phoenix recorded the second-highest job growth in the nation year over year. The construction sector was the fastest-growing industry, with 13.7 percent growth.
- Phoenix has consistently been a leader in job growth nationally since pulling out of the Great Recession. Several significant job announcements were made during 2018 and the trend is continuing through the first part of 2019. Included in these were Deloitte announcing 2,500 new hires, Allstate announcing 2,500 new hires and Cognizant looking for 500 new hires; many other companies are choosing the valley for substantial headcount growth.
- Local governments are sweetening the deal by providing incentives in an effort to attract these national firms. Top examples of business sectors receiving incentives include finance, insurance, defense, bioscience, biomedical and engineering.
- A significant consideration in the decision-making process for company site selections in Phoenix is the affordability of both commercial rents and housing costs.
Source: JLL Research, BLS