The Road to Prosperity Dashboard tracks Utah’s economic outlook. The Dashboard, which is updated monthly, provides essential insights, tracks timely and leading measures, and shares salient indicators.
First Dashboard released: September 2020.
“High interest rates, unaffordable housing, and high-but-moderating inflation continue to put pressure on the Utah economy. In the coming months, consumers will also be impacted by an onset of political news that will impact sentiment and add to feelings of unease.”
“Utah’s job market remains strong with notable growth in the construction, government and education/health services sectors. Although there is a slight rise in unemployment rates in Utah and across the nation, our state’s unemployment rate remains relatively low. Additionally, we are enthusiastic about the increase in passenger traffic at the Salt Lake City International Airport, indicating continued growth and economic vitality.”
Three Essential Insights from the June 2024 Dashboard
Unemployment rates tick up in Utah and the U.S. but remain comparatively low.
Unemployment rates tick up in Utah and the U.S. but remain comparatively low.
A recently overheated labor market continues to cool, with employment growth slowing and unemployment rates rising slightly. Utah’s current unemployment rate ranks 11th lowest (best) nationally.Utah’s employment growth varies widely by industry.
Utah’s employment growth varies widely by industry.
Employment in Utah’s information and financial activities sectors contracted for the 5th consecutive month through May. In contrast, construction employment grew nearly 5%. Statewide employment growth totaled 2.2%.