Utah’s unemployment rate remains stable; departmental rate at 1.8% | News, Sports, Jobs

Isaac Hale, Daily Herald file photo

The administrative offices of the Utah Department of Workforce Services are pictured Thursday, March 26, 2020 in Salt Lake City.

Utah’s unemployment rate for July 2022 was 2% for the fourth consecutive month, according to a report released Friday by the Utah Department of Labor Services. In Utah County, unemployment was flat at 1.8% in July, similar to June, and down from 2.2% at the same time last year.

About 35,500 Utahns are unemployed, according to the report, keeping Utah’s seasonally adjusted unemployment rate at 2.0%, compared to the national unemployment rate in August, which rose two tenths. percent to 3.7%.

“This month’s economic data continues to hold up in the face of the national dialogue on inflation and other economic headwinds,” Mark Knold, chief economist at the Department of Workforce Services, said in a statement. “Employment data nationally and in Utah is strong and shows hiring remains strong. The national unemployment rate has risen slightly, but when those rates are as low as they are now, small upward moves are not seen as a concern. Utah’s rate was unchanged at 2.0%. This is the fourth month in a row that Utah’s unemployment rate has been 2.0%.

Total non-farm employment for the MSA of Provo-Orem increased from 290,200 in August 2021 to 303,400 this year, an increase of 4.5%. The goods-producing sector saw the largest total increase in employment, rising from 50,500 jobs in August 2021 to 54,500 jobs in August 2022, an increase of 7.9%.

Eight of Utah’s top 10 private-sector industry groups posted year-over-year net job gains over the past year, led by trade, transportation, utilities, l education and health services, construction, recreation and hospitality.

Only two sectors have experienced job contractions over the past year, including financial activities with a loss of 2,500 jobs, and professional and business services, with a loss of 600 jobs. However, Utah’s private sector employment still recorded a year-over-year expansion of 3.7%, an increase of 50,800 jobs.

Utah’s nonfarm payroll employment for the month of August has increased about 3.4% over the past year, adding a total of 54,400 jobs statewide since August 2021. The Utah’s job count currently stands at 1,673,200.

Utah County has the fifth-lowest unemployment rate in the state behind Summit, Morgan, Juab, and Cache counties. According to the most recent estimates from the US Census Bureau, Utah County has a population of 684,986 people, more than triple the four counties with lower rates combined (205,322 people).

More information can be found at https://jobs.utah.gov/wi/update/index.html.


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