Utah’s economy continues to hum

Utah's unemployment rate is 2.6%, compared to the national rate of 5.4%. Photo: City Government of Park City, Utah

SALT LAKE CITY — The Utah Department of Workforce Services released state job data last week, showing the state’s unemployment rate dropping to 2.6 percent from 2.7 percent in July.

The national unemployment rate currently sits at 5.4 percent.

Approximately 43,500 Utahns are unemployed.

The state’s nonfarm payroll employment has increased about 4.2 percent over the past two years — adding 65,100 jobs since July 2019.

“By late spring Utah commerce had reverted to its pre-COVID levels. Job openings were abundant. Labor, however, did not return as quickly, and thus the call of labor shortages,” said Department of Workforce Services Chief Economist Mark Knold.

“But labor has been responding. Otherwise, the Utah economy would not have been able to produce two full percentage points of job growth in just the past three months.”

Private sector employment has grown in Utah by 5.2 percent over the past 24 months.

Largest private sector losses during the past 2 years:

• Leisure and Hospitality Services: -3,700 jobs
• Natural Resources and Mining:-1,500 jobs
• Information: -800

Utah’s nonfarm payroll employment for July 2021 increased an estimated 4.2% across the past 24 months, with the state’s economy adding a cumulative 65,100 jobs since July 2019. Utah’s current employment level stands at 1,606,600.#UTecon #utpol #utbizhttps://t.co/f6UeJV35oW

— Workforce Services (@JobsUT) August 20, 2021