Utah’s jobless rate dropped again in November to a level seen only once before in the state’s employment history. The 2.4 percent level matched the rate reached briefly in early 2007. The new level ranks No. 2 in the nation, second only to Vermont’s 2.3 percent. The national unemployment rate reached 3.5 percent in November.
The jobless rate highlighted a job creation report that again saw Utah leading the United States in both private-sector growth and total job growth, with the state growing jobs by 3.7 percent and 3.3 percent respectively. Texas and Nevada job creation came in at 2.7 percent to finish second to Utah.
Utah’s nonfarm payroll employment for November added 51,600 jobs to the economy since November 2018. Utah’s current employment level sits at about 1,595,800.
“Utah’s unemployment rate has fallen by four-tenths of a point over the past four months,” said Mark Knold, chief economist at the Utah Department of Workforce Services. “Rapid declines in such a low unemployment environment point to an economy running at full steam. Employment opportunities are plentiful.”
Utah’s private-sector employment grew by 3.7 percent year-over-year with the addition of 47,500 positions. Once again, all 10 of the private-sector major industry groups measured in the establishment survey posted net job increases in November.
The largest private-sector employment increases were in education and health services (12,500 jobs), construction (9,500 jobs), and professional and business services along with leisure and hospitality services, both with 6,300 new jobs. The fastest employment growth occurred in construction (9.1 percent), education and health services (6 percent) and leisure and hospitality services (4.3 percent).