Utah continues to maintain economic momentum due to solid job growth and unfettered consumer spending, and despite concerns over tariff hikes, according to data released through the Salt Lake Chamber’s July Roadmap to Prosperity Economic Dashboard.
The chamber dashboard, developed in partnership with the University of Utah’s Kem C. Gardner Policy Institute, is designed to give business leaders a continuing understanding of
Utah’s economy.
“Strong job creation and resilient consumer spending are fueling Utah’s economic momentum,” said Derek Miller, president and CEO of the Salt Lake Chamber. “While inflation pressures do add some uncertainty, current trends point toward continued economic strength in the near term. Maintaining flexibility and foresight will help us weather potential headwinds, and we will continue to take proactive steps to address these challenges.”
According to dashboard figures, Utah employment grew 2.3 percent year-over-year in June, outpacing the nation’s 1 percent growth. Utah and U.S. employment growth trends began largely diverging in January 2025, with national job growth slowing and Utah’s gains continuing to accelerate. Utah’s growth in June ranks fourth-highest among states.
For the first time in four months, inflation in Utah was up slightly. After signs of moderating price growth early in the year, inflation rose to 2.7 percent in June, stoking ongoing concerns of tariff-related price pressures. Inflation trends in coming months will influence interest rate policy and broader economic momentum.
Taxable sales in Utah have grown nearly 5 percent year-to-date through May, according to chamber numbers. Utah consumers and visitors continue to spend despite economic uncertainty. Anticipation of tariff-related price increases may have also prompted some consumers to buy ahead of potential price increases, accounting in part for the jump in sales.
“Utah’s economy continues to demonstrate strength, as indicated in higher-than-average job growth and increased taxable sales,” said Natalie Gochnour, director of the Gardner Institute. “However, consumer sentiment data is mixed, likely influenced by concerns over tariffs and broader economic uncertainty, as is also reflected in the recent slight uptick in inflation. Despite these concerns, Utah’s economic fundamentals remain strong, positioning the state for continued but
moderating growth.”
The Roadmap to Prosperity Economic Dashboard is updated monthly, tracking a number of leading measures and highlighting pertinent indicators. It can be accessed through the chamber’s website at slchamber.com.