April's jobless rate: Utah inches down while U.S. number back up
While the nationwide unemployment rate inched back up in April, Utah’s jobless number fell the country’s lowest, tied with New Hampshire and South Dakota. While the U.S. rate went from 6 percent to 6.1 percent, Utah’s rate dropped to 2.8 percent from 2.9 percent, according to numbers released by the Utah Department of Workforce Services (DWS).
Utah’s nonfarm payroll employment for April increased an estimated 2.3 percent across the past 24 months, DWS numbers revealed. The state’s economy added a cumulative 35,600 jobs since April 2019. Utah’s current employment level stands at 1,589,900.
“A year ago, COVID-19 closed significant portions of Utah’s economy,” said Mark Knold, chief economist at DWS. “Evaluating this year’s open economy against last year’s partially closed economy does not illuminate Utah’s underlying economic progression. We will be better served comparing the current economy against two years ago; a time before the COVID-19 distortions. In that vein, Utah’s current employment count is 2.3 percent higher than recorded in April 2019. A typical year’s worth of Utah employment growth has taken two years to accomplish — commendable given the intervening COVID-19 disruption.”
Utah’s unemployment rate means approximately 46,600 Utahns remain unemployed.
April’s private-sector employment recorded a two-year expansion of 3.6 percent. Eight of Utah’s 10 major private-sector industry groups posted net two-year job gains, led by professional and business services (15,700 jobs); construction (11,900 jobs); trade, transportation and utilities (9,800 jobs); and financial activities (8,800 jobs). Two industry groups with less employment than two years ago are leisure and hospitality services (down 7,600 jobs) and natural resources with 1,400 jobs lost.