Workforce Confidence and Economic Outlook Ranking High in Utah

Apr

Economic Development, Economic News American Legislative Exchange Council, Economic Outlook, LinkedIn Workforce Confidence survey, National Bureau of Economic Research, pandemic response, Poor States report, Rich States, Salt Lake City Metropolitan Area April 25, 2022

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2022

The Salt Lake City Metropolitan Area recently ranked No. 6 in LinkedIn’s Workforce Confidence survey, a study that highlights the top 10 metro areas where individuals’ overall optimism is running the highest. In addition, for the 15^th year in a row, Utah is the No. 1 state in the nation for its economic outlook, based on the latest American Legislative Exchange Council’s Rich States, Poor States report.

The LinkedIn report findings were based on surveys of 34,692 professionals from January 1 through March 31, 2022. Confidence is measured on a scale from a low of -100 to a high of +100. The economic outlook rankings report consists of states’ standings in 15 state government policy categories including tax rates, debt service, liability, tax spending limits, union laws and more. The American Legislative Exchange Council researchers contend that states that spend less and tax less see higher growth rates than states that tax and spend more.

Overall, the national mood has brightened since the early pandemic stresses of 2020. In the past 15 years, Utah navigated difficult events, including the Great Recession of 2008, drought, and the COVID-19 pandemic. Through it all, Utah’s strategic planning, pioneering spirit and determination has placed the state on a continued path of success. Utah buckled down during hard times, relying on forward-thinking reserve funds, and made preparations for future downturns during good economic periods.

Another study that detailed how states responded to the COVID-19 pandemic revealed Utah as No. 1 out of all 50 states. The National Bureau of Economic Research released its final COVID-19 report recently on how pandemic health, economy, and policy varied across the 50 states. Utah earned the top spot for its overall response to the pandemic. For individual categories, Utah ranked fourth for economy and fifth for education.

Utah prides itself by offering effective government and business collaboration, good policy, and forward-thinking – making the Beehive State one of the best places to live, work and play.