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. All Arizona counties saw population gains from 2010 to 2020, except La Paz (-19.2%), Apache (-7.7%), Cochise (-4.5%), Navajo (-0.7%), and Gila (-0.6%). The strongest population growth from 2010 to 2020 of Arizona's 15 counties was Maricopa (+15.8%), followed by Greenlee (+13.3%), Pinal (+13.2%), and Yavapai (+11.9%). Maricopa County accounted for 80% of the statewide population gains from 2010 to 2020. Arizona's population is expected to reach 8.3 million in 2030 and 10.7 million in 2060, according to projections by Arizona Office of Economic Opportunity.
UNEMPLOYMENT: The annual unemployment rate in Arizona in 2022 was 3.8%, down from 5.1% in 2021 and 7.8% in 2020, the first year of the COVID pandemic.
NONFARM PAYROLL EMPLOYMENT: Arizona gained 124,700 jobs in 2022 for annual job growth of 4.2% (based on average monthly job numbers). The private sector added 120,800 jobs for growth of 4.7% while government added 3,900 jobs for growth of 1.0%.
WAGES: The average annual wage in Arizona in 2022 was $58,620 ($28.18 hourly), up 6.3% from 2021. Arizona's annual wage in 2021 was 94.7% of the national average wage of $61,900 ($29.76 hourly).
PERSONAL INCOME: In 2021, Arizona had a per capita personal income (PCPI) of $55,487. This PCPI ranked 39th in the United States and was 86.5% of the national average, $64,143. The 2021 PCPI reflected an increase of 6% from 2020. The 2020–2021 national change was 7.3%. In 2011, the PCPI of Arizona was $35,321 and ranked 41st in the United States. The 2011–2021 compound annual growth rate of PCPI was 4.6%. The compound annual growth rate for the nation was 4.1%.
GROSS DOMESTIC PRODUCT: In 2021, Arizona current-dollar GDP was 420,026.7 million and ranked 18th in the United States. In 2011, Arizona GDP was 260,915.7 million and ranked 22nd in the United States. In 2021, Arizona real GDP grew 6.3%; the 2020–2021 national change was 5.9%. The 2011–2021 compound annual growth rate for Arizona real GDP was 2.7%; the compound annual growth rate for the nation was 2.1%.
For more info on Arizona's personal income and GDP, check out the state's BEA Regional Fact Sheet (BEARFACTS)
MAJOR INDUSTRY SALES: In 2022, Arizona's retail sales were up 7.9% following a 19.0% gain in 2021. The strong growth rate in 2021 was the highest on record (with records back to 2009). Restaurant & bar sales were up 18.0% in 2022, after a COVID-related decline of 13.5% in 2020 and a strong rebound of 28.6% in 2021. The years 2021 and 2022 saw the fastest rates of growth on record for statewide restaurant and bar sales. Arizona's hotel/motel receipts were up 44.1% in 2021 and 32.8% in 2022, also record highs, rebounding from a 28.5% COVID-related drop in 2020.
BANK DEPOSITS: In 2022, bank deposits in Arizona (as of June 30) were up 11.8% from 2021. That follows strong growth of 21.6% and 18.1% in 2020 and 2021, respectively. Growth rates over the three years from 2020 through 2022 were the highest of any three-year-period on record (with records back to 1994). Deposits in recent years were helped along by COVID stimulus payments and programs.
HOME SALES, PRICES & DAYS ON MARKET: In 2022, home sales in Arizona were down 21.7% following record-high sales the year prior, according to data from Arizona Regional Multiple Listing Service. The median price of homes sold in Arizona in 2022 was $411,995, down 3.5% from a record high in 2021. The 2022 decline followed 11 consecutive years of increase in Arizona's median home price. The average cumulative days on market for homes sold in 2022 was 71, up from 35 in 2021.
NEW HOME CONSTRUCTION: In 2022, there were 37,348 building permits issued for new single-family homes in Arizona, down 19.8% from the year prior. This followed a 10.1% increase in 2021. The drop in new home permits in 2022 was the first decline since 2014. The average permit value in 2022 was $282,016, up 3.7% from the year prior.
In 2022, visits to national parks in Arizona (including national monuments, memorials, and sites) were down 6.5%. That followed a 37.2% jump in visitors in 2021 (rebounding from the COVID-related decline of 35.0% in 2020, the first year of the pandemic). Visits in 2022 were down 16.7% from 2019, the year prior to the pandemic. Visits to state parks in Arizona were down 0.3% in 2022. That followed declines of 2.8% in 2021 and 5.6% in 2020.
According to research by Dean Runyan Associates for Arizona Office of Tourism, Arizona's travel industry (including business and leisure travel) generated $28.1 billion in direct spending statewide in 2022, up 19.3% from 2021 (the year 2021 saw a 58.3% increase, rebounding from a 41.2% COVID-related drop in 2020, the first year of the pandemic). Travel-related direct spending in 2022 was at a record high (with records back to 1998, not adjusted for inflation). Arizona's travel industry supported 179,100 jobs statewide in 2022 (up 8.2% from the year prior) with household earnings of $7.8 billion (up 14.9% from 2021), according to the study.
BORDER CROSSINGS: In 2022, pedestrian border crossings into the US at Arizona land ports of entry were up 26.7% on the heels of an 11.5% increase in 2021 (that followed a 44.7% drop in 2020, the first year of the COVID pandemic). Despite the increases, the number of pedestrian crossers in 2022 remained considerably below pre-COVID levels. The number of personal vehicle passengers was up 36.6% in 2022, following a 31.4% jump in 2021 (after falling 42% in 2020). With the increases, vehicle passenger border crossings at Arizona land ports in 2022 were in line with those from pre-COVID years.
INTERNATIONAL TRADE: In 2022, the total value of international trade (imports and exports) passing through Arizona ports of entry was $33.6 billion, up 12.4% from 2021. Exports totaled $12.2 billion (up 1.9%) while imports came in at $21.4 billion (up 19.3%).