Utah’s economic recovery continues to be one of the best in the nation, with two bright spots in construction and professional and business services, according to the most recent Roadmap to Prosperity Dashboard report for October. The report highlights Utah’s job growth, a dip in consumer confidence and a jobless claim rate actually below 2019 numbers.
Insights from the October dashboard in Roadmap to Prosperity Dashboard includes Utah’s impressive two-year job growth. The state’s August two-year job growth of 3.5 percent is the highest in the nation, and one of only three states showing positive job change.
Utah unemployment claims dropped below the 2019 average. Utah’s August weekly continued unemployment claims ranged between 7,800 and 8,700, all well below the 2019 average of 8,856. The report shows mostly positive trends for the state’s economy and growth on the road back to prosperity.
The Roadmap to Prosperity Dashboard is published in partnership with the Kem C. Gardner Policy Institute at the University of Utah. It is supported by a business-led coalition, including the Salt Lake Chamber, Staker Parson Materials & Construction, Mountain America Credit Union, WCF Insurance, Clark and Christine Ivory Foundation, Deseret Management Corp., Intermountain Healthcare, and Rio Tinto Kennecott.
Lon Crowell, Layton City Community and Economic Development Deputy Director said, “Utah leads the nation in economic recovery and Layton continues to witness positive growth through the pandemic. In 2021, as our population continues to increase, Layton City is seeing some of its highest employment numbers between 1990 and 2021. At the same time at 2.7%, Layton is enjoying some of its lowest unemployment rates between 1974 and 2021. This is all occurring while Layton is retaining its average employment per population ratio (average since 1990) with more residents in the labor force than any time since 1990. This equates to more jobs and a growing economy. Quite a swing knowing that April 2020 was the highest unemployment rate Layton has endured between 1974 and 2021. It is a great time to be in Layton.”