The Utah seasonally adjusted unemployment rate remained steady from November to December, according to data released by the Utah Department of Workforce Services (DWS). The rate for both months was 2.2 percent.
The nationwide jobless rate dropped one-tenth of one percentage point to 3.6 percent, the U.S. Bureau of Labor Statistics reported.
DWS also reported that Utah’s nonfarm payroll employment for December increased an estimated 2.4 percent from a year ago, with the state’s economy adding a cumulative 40,100 jobs since December 2021. Utah currently has about 1,689,800 people holding jobs, DWS said.
“Utah ends the year in a strong economic position,” said Mark Knold, chief economist at the Department of Workforce Services. “All of 2022 will be categorized as a robust economic year for Utah. For most of the year, job growth was above average. Job availability and labor utilization was so pervasive that the unemployment rate fell to an historical low of 2.0 percent. This year starts with the unemployment rate at 2.2 percent, which still speaks to that same labor-strength platform. This is the launching point for Utah’s 2023 economy.”
Utah’s December private-sector employment recorded a year-over-year expansion of 2.6 percent, or a 36,800 job increase, DWS reported. Eight of 10 major private-sector industry groups posted net year-over-year job gains, led by construction (up 12,700 jobs); trade, transportation and utilities (up 9,400 jobs); and education and health services (up 9,300 jobs). The two sectors with year-over-year employment contractions include financial activities (down 3,300 jobs) and professional/business services (down 300 jobs).
Additional employment data tables and analysis, including county unemployment rates, can be accessed at https://jobs.utah.gov/wi/update/index.html.