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%.
In addition to the updated data on the Arizona technology industry, the Council also supplements its report with published works, blogs and interviews highlighting technology industry leaders in the state, news from organizations across a wide range of sectors in the technology community and more.
Highlights from the Q1 2023 Impact Report include the following stories:
Career News
- Salt River Project looks from within to select new CEO to replace retiring Mike Hummel
- ZEVX closes $20M+ funding round, appoints Don Listwin as CEO
- Terkel guest blog: 15 tips for where to find diverse tech talent
- ONE Community celebrates 10-year anniversary of UNITY Pledge in support of a fully inclusive Arizona
- LG Energy Solution to ramp up investment in planned Valley battery manufacturing plant
- Banner Health to build $400M hospital campus in Scottsdale
- Pipeline AZ's IT/Cyber Career Network offers valuable career resources
- REACH grant provides scholarships for engineering and AI students
Investment News – Funded, Grants, etc.
- Tempe medical device firm raises $45M to expand technology to treat brain tumors
- Avnet awards 12 U.S. community grants to support efforts in STEM, DEI, communities in crisis and the environment
Download or view the complete report on the Council's website here.
Contact
Alec Robertson
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