Phoenixâs economy is improving with job growth
Employment opportunities and job growth are key indicators of a metro area’s economic strength. Along with houses for sale in Phoenix achieving strong values and decreased housing inventories, new job growth is important. As such, when the Department of Labor announced that 40,300 new jobs had been added in Phoenix between March 2011 and March 2012, you can be sure locals were pleased.
According to the Phoenix Business Journal, the city ranked number seven out of the top 100 largest metros for total job growth and sixteenth for percentage job growth at 2.35 percent. The median hourly wage of Phoenix is $16.91 and the mean hourly wage was $21.61 in May 2011, claims the Department of Labor.
Many of these new jobs may be in the state's three three primary industries – manufacturing, mining and tourism. For example, while numerous ores have been mined in Arizona, copper is one of the state’s primary exports. The Arizona Office of Tourism claims that more than 60 percent of all copper mined in the U.S. came from the Grand Canyon State.
If you’re looking to take advantage of one of the new jobs now present in Phoenix, consider searching the MLS listings in Phoenix for an affordable housing option.