Not only is Utah one of the leaders in the nation with its low unemployment rate, new figures from the U.S. Bureau of Labor Statistics (BLS) show Utah is ranked No. 1 for total job growth in the U.S. at 3.9 percent. The state is second in private-sector job growth, tied with Wyoming at 3.9 percent.
Neighboring Nevada is second in the U.S. with a 3.7 percent job growth rate while Idaho comes in third at 3.4 percent. Oregon is tops in private-sector job growth at 4.4 percent.
Utah’s nonfarm payroll employment for July grew by an estimated 3.9 percent, adding 57,100 jobs to the economy since July 2017, according to data released by the Department of Workforce Services. Utah’s current 3.1 percent unemployment rate — up one-tenth of a percentage point from June — means about 48,700 people are seeking employment while 1,510,700 have jobs. Meanwhile, the national unemployment rate decreased one-tenth of a percentage point to 3.9 percent.
“Utah experienced yet another month of significant growth in the job market,” said Carrie Mayne, chief economist at the Department of Workforce Services. “Fueled by robust economic conditions, the state added the highest number of jobs year-over for 2018 while maintaining a notably low unemployment rate.”
Utah’s private sector employment grew by 3.9 percent year-over with the addition of 48,500 positions. Nine of the 10 private sector industry groups measured in the establishment survey posted net job increases in July, while natural resources and mining lost 400 jobs year-over-year. The largest private sector employment increases were in trade, transportation and utilities (14,100 jobs); education and health services (7,700 jobs); and leisure and hospitality (7,400 jobs). The fastest employment growth occurred in trade, transportation and utilities (5.1 percent); leisure and hospitality (5.0 percent); and education and health services (4.0 percent).