Arizona's unemployment rate climbed again in February, bringing an end to an historic streak.
The state's seasonally adjusted unemployment rate ticked up a tenth of a percentage point to 4% last month.
Joblessness had been below 4% since October 2021, the longest such stretch in the state's history.
Doug Walls, Chief Economist with the Arizona Office of Economic Opportunity, explained the increase in a video presentation.
"The uptick reflects a growing labor force alongside reduced hiring momentum, an indication that job seekers are entering the market but facing fewer available opportunities," said Doug Walls, Chief Economist of the Arizona Office of Economic Opportunity in a video presentation breaking down the report.
Walls went on to explain that the state added 20,000 jobs last month, 5,100 fewer than in a typical February.
Arizona hit a record low for unemployment of 3.3% last March. It has gone up or remained flat every month since then.
"While Arizona's labor market remains fundamentally strong in the long term, recent trends point to a period of adjustment as employers navigate tighter economic conditions," said Walls.
He added that future reports will shine more light on what exactly is changing in the state's job market, and how it will affect workers in the future.
