So, as 2023 begins with its unique economic challenges, focus your attention on the opportunities that are available locally to achieve your goals.
Yavapai County began 2022 with a labor force of 106,288 (ages 16+). Active employment was 103,202 – a difference of 3,086 (unemployment). The official January 2022 Unemployment Rate was 2.9%.
Fast-forward to the latest data available as of this writing – the October 2022 labor force increased to 108,343 (+2,055), but the actual employment only increased by 1,530 (104,732), creating an increase in the unemployment rate to 3.3% (3,611). The November 2022 Yavapai County unemployment rate was recorded as 2.9%, which is an increase year-over-year of 0.3%.
How do we address these challenges in 2023? Our economy is changing rapidly and businesses are showing signs of economic stress related to inflation. The effects of inflation cause home sales to fall, with related occupations declining. Auto sales overall continue to decline, which affects related occupations in those industries as well. Remote workers are returning to security-based jobs with set pay and benefits. Families are merging – parents and grandparents are providing support for struggling children and grandchildren, and the cost of education is out of reach for many.
Rapid Response funding for dislocated worker re-training through the state and the Yavapai County Local Workforce Development Area is available to employers for layoff aversion strategies and career placement services for individuals suddenly finding themselves unemployed through no fault of their own. The Yavapai County Workforce Development Board is currently working with local businesses and dislocated workers who are negatively affected by the impacts of inflation, to include banking, real estate, title companies, auto sales, service and related occupations.
As workforce leaders, our job is to invest federal dollars that result in positive impacts to local economies, offering paid classroom training, incumbent worker upskilling and re-skilling, paid on-the-job training and work experience opportunities. We continue to bring CEOs to the table and align federal investments to targeted industries to develop innovative strategies. Currently, occupations in high demand in Yavapai County include heavy and tractor-trailer truck drivers (currently 26,794 employed), Licensed Practical/Vocational Nurses (currently 6,839 employed) and aircraft mechanics/service technicians (currently 5,272 employed).
So, as 2023 begins with its unique economic challenges, focus your attention on the opportunities that are available locally to achieve your goals. QCBN
By Teri Drew
Teri Drew is the Executive Director of the Yavapai County Workforce Development Board.
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