The Unemployment in AZ ad dropped to an all time low, however easing has now started as arizona has now ticked up to 4.1%. A lot of investment is happening in AZ how this plays out only the future can tell.
Arizona’s labor market remains tight, but the preliminary unemployment rate data suggest that a gradual loosening has begun. The state’s seasonally-adjusted unemployment rate ticked up to 4.1% in November, from 3.9% in October (Exhibit 3). That was a bit above the national rate of 3.7%, although not (statistically) significantly higher. As state job growth slows next year, the unemployment rate is likely to continue trending up.
https://www.azeconomy.org/2022/12/economy/arizona-jobs-trended-up-in-november/