Via Pollack.

The unemployment rate in Greater Phoenix… In May 2013, the unemployment rate was 6.8% compared to 7.5% a year ago. It is worth noting that the labor force is actually 1.2% lower today than it was a year ago. This is due primarily to discouraged workers dropping out of the job hunt. As things continue to improve, look for the labor force to grow again.

The rate is still high by historical standards but the change is in the right direction. It’s all about the delta.