UTAH (ABC4) – Despite labor shortages, Utah’s economy has seen recent and significant growth, according to the Department of Workforce Services.
“Labor shortages have been a buzz word recently, but despite that the Utah economy has grown significantly over the past three months,” reports Mark Knold, Chief Economist at the Department of Workforce Services.
“By late spring Utah commerce had reverted to its pre-COVID levels. Job openings were abundant. Labor, however, did not return as quickly, and thus the call of labor shortages. But labor has been responding. Otherwise, the Utah economy would not have been able to produce two full percentage points of job growth in just the past three months.”
The state has added 65,100 jobs since July 2019, and July’s seasonally-adjusted unemployment rate is about 2.6% with 43,500 unemployed Utahans, the Utah Department of Workforce Services reports. The national unemployment rate for July has lowered to 5.4%
Seven of the Beehive state’s 10 major private-sector industry groups saw two year job gains, lead by Professional and Business Services. Three industry groups saw a decline in employment since two years ago.
Visit jobs.utah.gov to view unemployment rates by county.