UTAH UNEMPLOYMENT HOLDS AT 2.8 PERCENT; U.S. RATE UP SLIGHTLY
Utah’s unemployment has continued to hold steady since the beginning of the year. For the fourth straight month in April, the Utah Department of Workforce Services (DWS) reported a jobless rate of 2.8 percent, meaning there are about 50,600 state residents without jobs.
Meanwhile, the national unemployment rate ticked up one-tenth of a percentage point to 3.9 percent.
Utah’s nonfarm payroll employment for April increased an estimated 2.1 percent across the past 12 months, with the state’s economy adding a cumulative 36,800 jobs since April 2023. Utah’s current job count stands at about 1,752,000.
“After several years of very low unemployment coupled with the recent high interest rates, the labor market is showing some signs of cooling,” said Ben Crabb, chief economist at DWS. “Job openings, while high, continue to trend downward, and a few industries are experiencing job contractions. Despite these headwinds, the state labor market remains among the best in the nation in job growth and unemployment rates as Utah continues to attract businesses and labor.”
Utah’s April private-sector employment recorded a year-over-year expansion of 1.7 percent, or a 24,400-job increase. Seven of the 10 major private-sector industry groups posted net year-over-year job gains. The overall gains are led by education and health services (up 12,000 jobs); construction (up 7,100 jobs); and trade, transportation and utilities (up 2,500 jobs). Leisure and hospitality (down 1500 jobs), financial activities (down 900 jobs) and information (down 100 jobs) were the only sectors with year-over-year job losses.
Additional employment data tables and analysis, including county unemployment rates, can be accessed at https://jobs.utah.gov/wi/update/index.html.