Total
2.1% 2.1%
Construction
5.4% 5.4%
Manufacturing
1.4% 1.4%
Information
-0.2% -0.2%
Financial Activities
-0.9% -0.9%
Other Services
2.9% 2.9%
Government
4.7% 4.7%
Education/Health Services
5.1% 5.1%
Leisure/Hospitality Services
-0.9% -0.9%
Natural Resources
1.9% 1.9%
DASHBOARD 12% 10% 8% 6% 4% 2% 0% -2% -4% -6% -8% -10% -12% -14%
Professional/Business Services
0.6% 0.6%
Trade/Transportation/Utilities
0.8% 0.8%
April 2024
The Road to Prosperity Dashboard2.1% tracks Utah’s economic outlook. 1.8% The Dashboard, which is updated monthly, provides essential insights, tracks timely and leading measures, and shares salient indicators.
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THREE ESSENTIAL INSIGHTS: 2012 2014 2016
2018 2020 US Utah Inflation slows in April after
March’s uptick.
April’s inflation fell to 3.4%, remaining higher than the Federal Reserve’s 2% target rate. This reading is welcome news after a 3.5% year-over inflation rate in March. The Federal Reserve’s interest rate decisions will largely hinge on inflation data in the coming months.
2022
2024
National and Utah employment growth continue moderating. Utah’s employment growth ranked 10th highest nationally in April, yet employment growth has slowed relative to recent years. The postpandemic recovery largely impacted strong gains in the past several years; longer-term trends will determine if this moderation will continue.
Unemployment Rate April 2024
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Utah’s median home sales price stays relatively flat. Higher mortgage rates still contribute to limited supply and overall activity in the housing market. Utah’s median home sales price remains relatively flat in response, although the median sales price experienced marginal increases for three consecutive months through March.
Year-Over Job Change April 2024 1.5%
4.8% 4.8% 3.1% 3.1%
4.2% 4.2%
2.0% 2.0%
3.3% 3.3% 5.1% 5.1%
2.5% 2.5%
2.8% 2.8%
3.7% 3.7%
5.3% 5.3% 3.6% 3.6%
2.7% 2.7%
2.0% 2.0%
2.8% 2.8%
2.8% 2.8% 3.5% 3.5%
3.8% 3.8%
3.1% 3.1%
4.0% 4.0%
2.9% 2.9% 2.8% 2.8%
3.9% 3.9%
4.2% 4.2% 3.4% 3.4%
4.0% 4.0% 3.6% 4.3% 3.6% 4.3% 2.8% 2.8% 3.4% 3.4% 4.6% 4.6% 3.5% 3.5% 3.1% 3.1% 3.4% 3.2% 3.4% 3.2% 2.8% 2.8% 3.1% 3.1% 3.1% 3.1% 4.8% 4.8%
4.3% 4.3% 3.3% 3.3%
4.6% 4.6%
1.9% 0.0%
3.8%
USA 3.9% 3.9% USA VT 2.1% 2.1% VT NH 2.6% 2.6% NH MA 2.9% 2.9% MA CT 4.4% 4.4% CT RI 4.1% 4.1% RI NJ 4.7% 4.7% NJ MD 2.6% 2.6% MD DC 5.2% 5.2% DC DE 3.9% 3.9% DE
2.3%
1.7% 1.6%
1.2%
2.0% 2.0%
Source: U.S. Bureau of Labor Statistics
S A LT L A K E C H A M B E R
0.8%
1.6%
1.6% 1.8%
1.0%
2.2% 3.6% 3.6%
1.4%
1.7%
0.8%
1.2%
0.7%
2.5% 1.8%
0.5% 1.4% 1.4% 1.8% 1.1% 1.3% 0.5% 3.4%
1.1%
2.3% 1.5%
0.6% 2.2%
3.1% 3.1%
Unemployment Rate
1.4%
1.5%
1.8%
2.1%
2.0%
1.5%
USA 1.8% 1.8% USA VT 1.4% 1.4% VT NH 1.4% 1.4% NH MA 0.6% 0.6% MA CT 1.1% 1.1% CT RI 2.2% 2.2% RI NJ 1.9% 1.9% NJ MD 0.2% 0.2% MD DC 0.3% 0.3% DC DE 1.5% 1.5% DE
0.2% 0.2% 5.3% 5.3%
Job Growth
-0.4% -0.4%
3.8% 3.8%
Source: U.S. Bureau of Labor Statistics
ROADMAP TO RECOVERY COALITION