2.8%
Total
6.4%
Construction 2.2%
Manufacturing Information
0.0%
Financial Activities
0.8%
Other Services -1.1% 4.3%
Government
5.8%
Education/Health Services Leisure/Hospitality Services
2.1%
DASHBOARD
Natural Resources
0.0%
Professional/Business Services Trade/Transportation/Utilities
12% 10% 8% 6% 4% 2% 0% -2% -4% -6% -8% -10% -12% THREE ESSENTIAL INSIGHTS: -14% 2012 experienced 2014 2016the 2018 2020 Inflation US Utah
August 2024
2.4% 0.8%
The Road to Prosperity Dashboard2.8%tracks Utah’s economic outlook. 1.6% The Dashboard, which is updated monthly, provides essential insights, tracks timely and leading measures, and shares salient indicators.
1
smallest year-over increase since February 2021.
August year-over inflation fell to 2.5%, putting it closer to the 2.0% target rate. Housing remains the main driver of price increases, while price increases in goods like groceries have largely moderated.
2
2022 Utah 2024 taxable retail sales
slowed in June. Year-to-date taxable retail sales are up nearly 2% in Utah, but June 2024 sales fell more than 3% relative to June 2023 sales. Data for coming months will indicate if retail spending continues easing or if shoppers return to buying at a growing pace.
Unemployment Rate July 2024
4.5% 4.5%
USA 4.3% 4.3% USA VT 2.1% 2.1% VT NH 2.5% 2.5% NH MA 3.5% 3.5% MA CT 3.6% 3.6% CT RI 4.5% 4.5% RI NJ 4.7% 4.7% NJ MD 2.8% 2.8% MD DC 5.5% 5.5% DC DE 4.1% 4.1% DE
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
2.9% 2.9%
Unemployment Rate
While sentiment in both regions rose, Utah’s consumer sentiment increased by a higher amount, widening the gap between the two measures. The gap between sentiment in Utah and the U.S. now stands at its largest since early 2022.
Year-Over Job Change July 2024
3
U.S. and Utah consumer sentiment increased in August.
5.5% 5.5%
Source: U.S. Bureau of Labor Statistics
ROADMAP TO RECOVERY COALITION