Total Total
2.6% 2.6%
Construction Construction
11.8% 11.8%
Manufacturing Manufacturing
0.4% 0.4% 6.3% 6.3%
Information Information Financial Financial Activities Activities -3.4% -3.4% Leisure Leisure && Hospitality Hospitality
0.0% 0.0% 1.4% 1.4%
Other Other Services Services
4.4% 4.4%
Government Government Education/Health Education/Health Services Services
5.8% 5.8% 12.1% 12.1%
Natural Natural Resources Resources -1.7% -1.7%
Professional/Business Professional/Business Services Services
DASHBOARD 12% 12% 10% 10% 8% 8% 6% 6% 4% 4% 2% 2% 0% 0% -2% -2% -4% -4% -6% -6% -8% -8% -10% -10% -12% -12% -14% -14%
December 2022 2.9% 2.9%
Trade/Transportation/Utilities Trade/Transportation/Utilities
3.2% 3.2%
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. 2.6% 2.6%
2011 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
US US
Utah Utah
THREE ESSENTIAL INSIGHTS:
1
Utah’s unemployment rate lowest in nation. Utah’s November unemployment rate of 2.2% is the lowest in the nation. November continues a 21-month trend of an unemployment rate below 3.0%.
2
Inflation peaked at 9.0% in June and still remains high at 7.1% in November. Year-over inflation has now fallen for five consecutive months showing signs that price increases may be moderating.
Unemployment Rate November 2022 4.0% 4.0% 4.4% 4.4%
2.9% 2.9%
3.6% 3.6% 3.5% 3.5%
4.1% 4.1% 4.1% 4.1%
2.4% 2.4%
4.1% 4.1%
4.5% 4.5%
3.3% 3.3%
1.2% 1.2%
4.3% 4.3% 4.3% 4.3%
3.1% 3.1%
2.6% 2.6%
3.0% 3.0%
4.3% 4.3%
1.9% 1.9% 4.0% 4.0%
USA USA 3.7% 3.7% VT VT NH NH MA MA CT CT RI RI NJ NJ MD MD DC DC DE DE
2.5% 2.5% 2.6% 2.6% 3.4% 3.4% 4.2% 4.2% 3.6% 3.6% 3.4% 3.4% 4.3% 4.3% 4.6% 4.6% 4.4% 4.4%
3.9% 3.9%
2.2% 2.2%
Source: U.S. Bureau of Labor Statistics
S A LT L A K E C H A M B E R
1.7% 1.7%
3.5% 3.5%
3.5% 3.5% 2.9% 2.9%
2.6% 2.6% 3.7% 3.7%
3.7% 3.7%
2.6% 2.6% 2.7% 2.7%
2.9% 2.9%
5.1% 5.1%
3.5% 3.5% 2.2% 2.2%
2.8% 2.8%
2.6% 2.6%
3.3% 3.3% 3.3% 3.3%
2.0% 2.0% 2.4% 2.4% 3.7% 3.7% 3.2% 3.2% 2.7% 2.7% 2.5% 2.5% 3.2% 3.2% 4.2% 4.2% 3.7% 3.7% 1.4% 1.4% 3.7% 3.7% 3.7% 3.7% 2.5% 2.5% 0.1% 0.1% 2.7% 2.7% 4.7% 4.7%
3.3% 3.3%
USA USA 3.2% 3.2% VT VT 1.7% 1.7% NH NH 2.3% 2.3% MA MA 4.1% 4.1% CT CT 2.2% 2.2% RI RI 2.4% 2.4% NJ NJ 3.7% 3.7% MD MD 1.8% 1.8% DC DC 1.8% 1.8% DE DE 2.2% 2.2%
4.4% 4.4%
3.3% 3.3%
Unemployment Unemployment Rate Rate
After record-breaking price increases over the last two years, Utah’s median home sales price fell every month from May through September. October prices moderated with a slight increase from $490,000 in September to $492,000 in October.
3.9% 3.9%
3.7% 3.7%
2.3% 2.3%
4.0% 4.0% 4.2% 4.2% 3.0% 4.7% 4.7% 3.0% 4.1% 4.1% 2.8% 2.8% 2.8% 2.8% 4.0% 4.0% 2.7% 2.7% 3.9% 3.9% 3.5% 3.5% 3.4% 3.7% 3.4% 3.7% 3.3% 3.3% 3.0% 3.0% 2.7% 3.9% 3.9% 2.7% 4.0% 4.0% 3.3% 3.3% 2.5% 2.5%
4.9% 4.9% 2.2% 2.2%
Home prices moderate.
Year-Over Job Change November 2022
2.3% 2.3%
3.0% 3.0%
3
Inflation remains high.
4.9% 4.9%
Job Job Growth Growth
0.1% 0.1%
5.1% 5.1%
Source: U.S. Bureau of Labor Statistics
ROADMAP TO RECOVERY COALITION