SALT LAKE CITY (Jan. 20, 2023) — Utah’s nonfarm payroll employment for December 2022 increased an estimated 2.4% across the past 12 months, with the state’s economy adding a cumulative 40,100 jobs since December 2021. Utah’s current job count stands at 1,689,800.
December’s seasonally-adjusted unemployment rate remains at 2.2%. Approximately 38,900 Utahns are unemployed. The December national unemployment rate has lowered to 3.7%.
“Utah ends the year in a strong economic position,” said Mark Knold, Chief Economist at the Department of Workforce Services. “All of 2022 will be categorized as a robust economic year for Utah. For most of the year job growth was above average. Job availability and labor utilization was so pervasive that the unemployment rate fell to an historical low of 2.0%. This year starts with the unemployment rate at 2.2%, which still speaks to that same labor-strength platform. This is the launching point for Utah’s 2023 economy.”
Utah’s December private sector employment recorded a year-over-year expansion of 2.6%, or a 36,800 job increase. Eight of ten major private-sector industry groups posted net year-over-year job gains, led by construction (12,700 jobs); trade, transportation, utilities (9,400 jobs); and education and health services (9,300 jobs). Two sectors with over-the-year employment contractions include financial activities (-3,300 jobs); and professional/business services (-300 jobs).
Additional analysis and tables at https://jobs.utah.gov/wi/update/index.html
County unemployment rates for December will post on or shortly after January 23, 2023, at https://jobs.utah.gov/wi/update/une/season.pdf
January’s employment information will be released at 7 a.m. on Wednesday, March 1, 2023.
Largest private sector gains in the past year:
- Construction: 12,700 jobs
- Trade, transportation, utilities: 9,400 jobs
- Education and health services: 9,300 jobs
Largest private sector losses in the past year:
- Financial activities: -3,300 jobs
- Professional/business services: -300 jobs
Statistics generated by the U.S. Bureau of Labor Statistics, Washington, D.C., modeled from monthly employer (employment) and household (unemployment) surveys.
Listen to Chief Economist Mark Knold shares his analysis of the December 2022 employment report:
