State Experiences Lower Job Growth but Still Matches Rate of California

PHOENIX - June 29, 2023 - PRLog -- The Arizona Technology Council released its Q1 2023 Arizona Technology Industry Impact Report today, revealing the state's semiconductor manufacturing industry now employs more than 24,000 Arizonans — more than three times the national average. In addition, technology job growth in Arizona through May 26 was 2.9%, the same pace as that of California. Other states in the Southwest had higher rates, with Nevada at 5.6%, Utah at 5% and Texas at 4.4%

Overall, more than 215,000 technology industry jobs exist in Arizona. Still, Humana, Desert Financial and Meta were the only top 20 technology company employers with increases in the latest 30 days' worth of unique job postings.

"Arizona's technology sector is exhibiting its usual resilience and amidst these numbers, certain companies stand out with growth in job postings, reflecting the dynamic nature of the industry," said Steven G. Zylstra, president and CEO of the Council and SciTech Institute. "After a few years of major technology job growth and reaching an all-time high in Q1 2022, we are beginning to see a decline in 2023. However, the semiconductor manufacturing industry will continue to see major growth as new facilities near completion and more suppliers flood the Valley. Signs of a rebound are very positive."

In addition to the Arizona technology market jobs decline, a few additional data points stood out, including:

• Computer systems design and related services led the job market in 2022 with more than 50,000 jobs. The aerospace product and parts manufacturing also reported just over 30,000 jobs.
• Technology industry earnings have exceeded $25 billion.
• Twelve-month Arizona technology industry earnings growth came in at 3.4%.

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