Workers Remain in High Demand

Workers are still in high demand and the competition continues to be fierce.The Yavapai County employment rate is at 97.3% and the unemployment rate is at 2.7%, which, by most definitions, equals full employment. Since the pandemic, Yavapai County has had disparity between the number of jobs in demand and the number of workers actually seeking employment. Employers in our area have been creative and innovative in their quest to attract and retain workers. Some examples of creativity and innovation include hiring bonuses, increased wages, temporary housing solutions, moving expenses and most importantly, there have been large investments in up-skilling job candidates and tenured workers.

Our most recent data calculated our labor force at 70,300 individuals in non-farm employment and our average wage is stable at $23.24 per hour. The current worker population demographic is almost equal between 18- to 35-year-olds and 35- to 60-year-olds and 65 or older rounding out at 31.6%. These changes would indicate an increase in population below 65 or possibly fewer retirees returning to work.

The top five industries in the county include food and accommodations, construction, retail trade, administrative and waste services, and real estate rental and leasing services. According to the Arizona Office of Economic Opportunity, the healthcare, utility, art and recreation employer sectors are in decline, especially with recent events.

The ARIZONA@WORK, Yavapai County servicer hosts a Rapid Response process for employers who are laying off workers and for workers being furloughed, permanently laid off or individuals who have been separated from their income. These services offer businesses and workers options to easily transition to other jobs, avoiding the need for lost income or unemployment services and access to retraining with paid tuition and job placement. We also assist employers with exit strategies including layoff aversion. Currently, in Yavapai County, we have two active Rapid Response events, to include manufacturing, retail and food service.

Workers are still in high demand and the competition continues to be fierce. Stay tuned, as we expect to see significant changes to the labor market over the next quarter. QCBN

By Teri Drew

Teri Drew is the executive director for the Yavapai County Workforce Development Board.