Construction
4.6%
Manufacturing
1.3%
Information
1.6%
Financial Activities -2.5% Other Services
5.1%
Government
2.6%
Education/Health Services
4.6%
Leisure/Hospitality Services
4.7%
Natural Resources
7.4%
Professional/Business Services
2.3%
DASHBOARD
1.6% April 2023
Trade/Transportation/Utilities
12% 10% 8% 6% 4% 2% 0% -2% -4% -6% -8% -10% -12% -14%
2.7% 2.7%
2.7% 2.7%
The Road to Prosperity Dashboard tracks Utah’s economic outlook. The Dashboard, which is updated monthly, provides essential insights, tracks timely and leading measures, and shares salient indicators. 2011 2012 2012 2013 2013 2014 2014 2015 2015 2016 2016 2017 2017 2018 2018 2019 2019 2020 2020 2021 2021 2022 2022 2023 2023 2011
US
Utah
THREE ESSENTIAL INSIGHTS:
1
Inflation stays high but continues to fall. Price increases continue to moderate, with March being the 9th consecutive month of yearover declines. However, inflation remains more than two times greater than the target range.
2
Utah’s unemployment rate stayed constant at 2.4%, the 5th lowest unemployment rate nationally. The U.S. unemployment rate fell slightly from 3.6% to 3.5%.
Unemployment Rate March 2023
Utah consumer confidence is unchanged. Utah’s consumer sentiment remained the same in March. Mixed signals of both economic growth and uncertainty likely contributed. Conversely, national sentiment declined.
Year-Over Job Change March 2023 3.3% 3.3%
4.5% 4.5% 4.4% 4.4%
3
Utah’s unemployment rate remains low.
2.3% 2.3% 2.6% 2.6%
5.5% 5.5%
3.7% 3.7%
2.4% 2.4%
2.8% 2.8%
4.4% 4.4% 3.5% 3.5%
3.5% 3.5%
2.1% 2.1%
2.6% 2.6%
2.8% 2.8%
1.9% 1.9%
2.5% 2.5%
4.1% 4.1%
3.7% 3.7%
2.6% 2.6%
2.9% 2.9%
4.1% 4.1%
4.2% 3.8% 4.2% 3.1% 3.8% 3.1% 3.4% 4.4% 3.4% 4.4% 3.2% 2.9% 3.2% 2.9% 3.8% 2.5% 3.8% 2.5% 3.5% 3.5% 3.4% 3.4% 3.0% 3.0% 3.0% 3.2% 3.0% 3.2% 2.3% 2.3% 3.1% 3.1% 3.5% 3.5% 4.0% 4.0% 3.6% 3.6% 2.8% 2.1% 2.8% 2.1%
2.1% 2.1%
2.6% 2.6%
4.9% 4.9%
USA 3.5% 3.5% USA VT 2.7% 2.7% VT NH 2.4% 2.4% NH MA 3.5% MA 3.5% CT 4.0% 4.0% CT RI 3.1% 3.1% RI NJ NJ 3.5% 3.5% MD MD 2.7% 2.7% DC 4.8% 4.8% DC DE 4.4% 4.4% DE
2.7% 2.7%
2.3% 2.3% 2.0% 2.0%
1.9% 1.9%
Source: U.S. Bureau of Labor Statistics
S A LT L A K E C H A M B E R
2.5% 2.5% 1.3% 1.3%
2.8% 2.8% 2.6% 2.6%
3.0% 3.0%
1.2% 1.2%
2.2% 2.2% 1.5% 1.5%
2.0% 2.0%
4.3% 4.3%
2.7% 2.7%
1.7% 1.7%
2.5% 2.5% 1.6% 1.6% 2.0% 2.0% 2.5% 2.5% 0.5% 0.5%2.5% 2.3% 2.5% 2.3% 2.4% 2.4% 3.1% 3.1% 2.9% 2.9% 2.4% 2.9% 2.4% 2.9% 2.3% 2.3% 2.9% 2.9% 1.2% 1.2% 2.3% 2.3%
1.5% 1.5%
4.2% 4.2%
2.6% 2.6%
3.5% 3.5%
Unemployment Rate
2.4% 2.4%
2.4% 2.4%
USA 2.7% 2.7% USA VT 1.1% VT 1.1% NH 2.3% 2.3% NH MA MA 3.0% 3.0% CT 1.4% 1.4% CT RI 1.0% 1.0% RI NJ NJ 1.7% 1.7% MD MD 1.5% 1.5% DC 1.4% 1.4% DC DE 2.9% 2.9% DE
3.5% 3.5% 5.5% 5.5%
Job Growth
0.5% 0.5%
4.9% 4.9%
Source: U.S. Bureau of Labor Statistics
ROADMAP TO RECOVERY COALITION