Twenty-twenty, continues twenty-nineteen’s trend as a “Candidates’ market.” Arizona is experiencing a tight labor market, which continues to positively impact wage growth in our state. This holds true in the legal market, as well, with wages increasing substantially above inflation. Even with the continued influx of people moving to Arizona (Arizona is the third fastest growing state in the U.S.), the unemployment rate is low.
Most firms in the Valley are seeking lateral Partners and, in some cases, are open to moderate books of business. There are, also, significant opportunities for Associates, with many positions publicly posted, in addition to unadvertised opportunities.
While many fear another recession, with Arizona among the country’s leaders in job growth (ranking third) and trends such as those referenced, it is very unlikely we will experience anything similar to the last recession.