The U.S. has had a difficult couple of years because of the COVID-19 pandemic, the pandemic recession and a larger-than-expected cohort of retirees. Compared to other states, though, Utah has done remarkably well during this challenging time. Utah outperforms other states and is a model for getting things done. • When it comes to recent growth, Utah and Idaho are battling for the No. 1 spot in the country. • States like California are financially in the red; Utah is not. • Between September 2019 and September 2021, Utah’s job growth was at 3.4%. The worst state for job loss was Hawaii (-12.6%), and the nation as a whole was at -2.5%. • As a direct result of California’s current problems, many people have left it for other destinations, especially in the Intermountain West. Utah and Idaho are two of those popular destinations, as is Texas in the southern part of the country. • Utah’s median age is the youngest in the country. That 3.4% increase in jobs is great news, but it doesn’t tell the whole story, either. Different industries within the state have had very different situations over the last two years. • Natural resources and mining dropped -12.6%. • Leisure and hospitality dropped -2.3%. • Government employment dropped -2.2%. In contrast, other industries increased, sometimes dramatically. Five industries had the biggest employment gains: • Construction increased the number of employees by 10.8%. • Financial activities employment increased by 8.7%. • Professional and business services increased by 6.8%. • Manufacturing increased by 6.4%. • Trades, transportation and utilities increased by 6.1%. Another interesting way to look at Utah employment is by looking at the unemployment rate, adjusted seasonally. Utah has an unemployment rate of 2.4%, compared with the national rate of 4.8%. On a county-by-county basis, Cache County has the lowest unemployment rate (1.5%), and Garfield has the highest (6.2%). The eastern and southern counties in the state generally have higher unemployment rates than the northern and western counties. If you Utah Outlook 10 UPDATE
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