Salt Lake City – Utah’s nonfarm payroll employment for March 2022 increased about 4.0% over the past 12 months, with the state’s economy adding 62,900 cumulative jobs since March 2021. The current number of jobs in Utah stands at 1,650,800.
March’s seasonally adjusted unemployment rate is estimated at 2.0%, with about 33,400 unemployed in Utah. February’s unemployment rate remains unrevised at 2.1%. The March national unemployment rate continued to decline, falling to 3.6%.
“It’s another month to sing the praises of Utah’s economy,” said Mark Knold, chief economist at the Department of Workforce Services. “Job growth over the past year is quite strong at 4.0%. In response, the unemployment rate took another historic notch down to 2.0%. All industrial sectors, all but one have created new jobs in the past year.The only exception is the professional and business services sector.This area includes procurement assistance services, telemark, collection agencies, etc. no surprise.
Utah’s private sector employment in March recorded a 4.4% year-over-year expansion. Nine of Utah’s top 10 private sector industry groups posted year-over-year net job gains, led by trade, transportation and utilities (16,100 jobs); Leisure & Hospitality (13,600 jobs); construction (7,100 jobs); and education and health services (6,800 jobs). The only sector not to register employment growth is professional and business services. This sector includes businesses providing assistance and temporary workers, who live on surplus labor by finding temporary help or help desk jobs. But with historically low unemployment, there isn’t much of a surplus labor pool to work with.
Statistics generated by the United States Bureau of Labor Statistics, Washington, DC, modeled from monthly surveys of employers (employment) and households (unemployment).