Phoenix has seen labor growth expand so far in 2025, while job growth and housing permits face headwinds, according to an analysis from the Eller Business Research Cente r.

Exhibit 1 presents current Phoenix-Mesa-Chandler MSA economic indicators. Unavailable – Phoenix-Mesa-Chandler MSA(Maricopa + Pinal Counties)Monthly Summary

The Phoenix MSA’s labor market showed decent strength in June, as non-seasonally adjusted resident employment climbed 1.3% year-over-year, reaching 2.7 million. While April and May recorded weaker gains of 0.4% and 0.7% respectively, June’s improvement suggests growing momentum in regional employment. At the state level, Arizona showed consistent year-over-year increases in the second quarter of 2025, with employment rising 1.3% to 3,647,697.

With labo

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