The Utah jobless rate crept up a tenth of a percentage point in October — the third straight month it has taken the minimal hike, according to data released by the Utah Department of Workforce Services. Unemployment in the state now stands at a seasonally adjusted 2.7 percent, which means about 49,300 Utahns are unemployed.
The October national unemployment rate also increased one-tenth of a percentage point to 3.9 percent.
Utah’s nonfarm payroll employment for October increased an estimated 2.2 percent for the past 12 months, with the state’s economy adding a cumulative 38,200 jobs since October 2022. There are approximately 1,742,400 Utahns now employed.
“Over the past few months, job growth rates in Utah have maintained around the 2 percent range,” said Mark Knold, chief economist at the Department of Workforce Services. “While slightly below the state’s long-term average, it’s remarkable that this deceleration in job growth has only recently occurred — especially considering the record-low unemployment of the past year.”
Utah’s October private-sector employment recorded a year-over-year expansion of 2.1 percent with a 29,900-job increase. Seven of the 10 major private-sector industry groups posted net year-over-year job gains. The overall job gains were led by leisure and hospitality services (up 11,500 jobs), education and health services (up 8,700 jobs), other services (up 4,200 jobs) and information (up 3,300 jobs). Natural resources had no job change over the year. The two sectors with job losses were trade/transportation/utilities (down 1,000 jobs) and manufacturing (down 1,000 jobs).