Arizona's population as of Census 2020 was 7,151,502, up 11.9% from 2010 making Arizona the 9th fastest-growing state over the decade. According to pre-census estimates by Arizona Office of Economic Opportunity (OEO), all Arizona counties saw population gains from 2019 to 2020, except Coconino County, which saw a population decline of 1.3%. The strongest population growth in 2020 according to OEO estimates was Pinal County (+2.8%) and Yuma County (+2.3%). Since 2010, the fastest population growth of Arizona's 15 counties has been Greenlee County (+25.1%), followed by Pinal (+24.3%), and Yuma (+20.0%) according to OEO estimates. Arizona's population is projected to reach 7.8 million in 2025 and 10.5 million in 2055, according to OEO.
UNEMPLOYMENT: Arizona's unemployment rate in 2020 was 7.9% (up from 4.9% in 2019, due to the COVID pandemic and related economic decline). At the peak of COVID business closures, the unemployment rate in Arizona hit a high of 13.4% in April 2020, its highest level on record (with records back to 1990). Arizona’s unemployment rate of 7.9% in 2020 was lower than the nationwide rate of 8.1%.
NONFARM PAYROLL EMPLOYMENT: Arizona lost 66,600 jobs in 2020 for annual job growth of -2.3%. The largest number of job losses were in professional and business services, which shed 17,600 jobs (-4.0%). By job growth rate, leisure and hospitality saw the biggest drop, with job numbers falling 46.8% (-14,200 jobs). Arizona's government sector declined by 0.9%, with all of the job losses occurring at the local government level, which was down by 8,300 jobs (-3.0%). Federal and state government jobs in Arizona were up 3.7% and 2.7%, respectively, in 2020.
PERSONAL INCOME: In 2020, Arizona had a per capita personal income (PCPI) of $48,950. This ranked 42nd in the United States and was 82% of the national average, $59,729. The 2020 PCPI reflected an increase of 6.5% from 2019. The 2019-2020 national change was 5.8%. In 2010, the PCPI of Arizona was $33,637 and ranked 42nd in the United States. The 2010-2020 compound annual growth rate of PCPI was 3.8%. The compound annual growth rate for the nation was 3.9%.
WAGES: The average annual wage in Arizona in 2020 was $53,396 ($25.67 hourly), up 4.8% from 2019. Arizona's annual wage in 2020 was 95% of the national average wage of $56,310 ($27.07).
In 2020, Arizona's retail sales were up 6.5% compared to 2019. Due to the COVID pandemic, restaurant & bar sales were down 13.5%, while hotel/motel receipts were down 28.5% in 2020.
In 2020, Arizona current-dollar GDP was $372.5 billion and ranked 19th in the United States. In 2010, Arizona GDP was $248.1 billion and ranked 22nd in the United States. In 2020, Arizona real GDP contracted 0.9%; the 2019-2020 national change was -3.5%. The 2010-2020 compound annual growth rate for Arizona real GDP was 2.2%; the compound annual growth rate for the nation was 1.7%.
HOME SALES, PRICES & DAYS ON MARKET: In 2020, home sales in Arizona were up 4.9% and were at their highest level since 2005, according to data from Arizona Regional Multiple Listing Service. In April 2021, the median price of homes sold in Arizona was $375,000, up 25% from April 2020. The Average Cumulative Days on Market for homes sold April was 32, down from 51 in April 2020.
NEW HOME CONSTRUCTION: In 2020, there were 42,277 new single-family homes built in Arizona, up 24.4% from 2019. The average permit value in 2020 was $267,675, up 0.6% from the year prior.
In 2020, visits to national parks in Arizona (including monuments, memorials, and sites) were down 36.1% (compared to 2019) due to the COVID pandemic and associated declines in travel. Visits to state parks in Arizona were down 5.7%. Visits to the Grand Canyon (Arizona's busiest national park) were down 51.5% in 2020. Despite the overall decline in visits to Arizona national and state parks, visits to Lake Havasu (Arizona's busiest state park) were up 22.3%; visits to Arizona lakes and recreation areas were up generally in 2020 due to the COVID pandemic and deferral of long-distance travel.
According to research by Dean Runyan Associates for Arizona Office of Tourism, Arizona's travel industry (including business and leisure travel) generated $25.6 billion in direct spending in 2019, up 4.7% from 2018. Arizona's travel industry supported 194,300 jobs (up 1.0%) with earnings of $7.7 billion (up 3.7%) in 2019, according to the study.
Check out Arizona Office of Tourism for research and marketing resources for the Arizona tourism industry.
BORDER CROSSINGS: In 2020, border crossings into the US at Arizona ports of entry were down across modes of transportation. Pedestrian crossings were down 44.7% and were at their lowest level on record (with records back to 1996). The number of personal vehicle passengers was down 42% and was at a record low.
INTERNATIONAL TRADE: In 2020, the value of international trade (imports and exports) passing through Arizona ports of entry totaled $26.4 billion, down 12.9% from 2019. Exports totaled $10 billion (down 14.4%) while imports came in at $16.4 billion (down 11.9%).
BANK DEPOSITS: In 2020, bank deposits in Arizona (as of June 30) were up 21.6% from 2019. The growth rate for deposits was its highest on record (with records back to 1994). Deposits were helped along by the first round of COVID stimulus payments, which went out beginning in April 2020.