Cumulative Percent Change in Seasonally Adjusted Employment in Arizona During Recessions
During the recession that began in late 2007, seasonally adjusted employment in Arizona fell for 37 months, with a total loss of 12 percent. None of the prior five recessions were nearly as long or deep. Based on the dating of Arizona employment, the 1974-75 recession started deeper than the last recession, but lasted only nine months, with the cumulative decline not even half as large as that of the last recession. The 1981-82 and 2001 recessions progressed similarly to the last recession, but were over in 12 and nine months, respectively.