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.

“While inflation remains higher than the Federal Reserve’s target rate of around 2%, other signs are pointing in the right direction with rising rates slowing demand and inflation. Consumer confidence in Utah is higher than the national average and a cooling housing market is helping to rebalance the overheated market along the Wasatch Front. Our enviable labor participation and record unemployment will continue to buoy the state economy.”
Natalie Gochnour, Kem C. Gardner Policy Institute at the University of Utah
“Utah’s labor market is strong, with unemployment at historic lows, despite recent layoffs in the tech sector. This is in line with the slowdown in financial and business services activity brought about by rising interest rates to slowing demand. Thankfully, Utah remains a safe haven for business with good governance and wise policy in a globally slowing economy.”
Derek Miller, Salt Lake Chamber

Three Essential Insights from the December 2022 Dashboard

Utah’s unemployment rate lowest in the nation.

Utah’s unemployment rate lowest in the nation.

Utah’s November unemployment rate of 2.2% is the lowest in the nation. November continues a 21-month trend of an unemployment rate below 3.0%.

Inflation declining but remains high.

Inflation declining but remains high.

AInflation peaked at 9.0% in June and still remains high at 7.1% in November. Year-over Inflation has now fallen for five consecutive months showing signs that price increases may be moderating.

Home Prices Moderate.

Home Prices Moderate.

After record-breaking price increases over the last two years, Utah’s median home sales price fell every month from May to September. October prices moderated with a slight increase from $490,000 in September to $492,000 in October.