Total
1.9%
Construction
4.2%
Manufacturing
1.1%
Information
-0.5%
Financial Activities -0.9% Other Services
2.0%
Government
5.0%
Education/Health Services
3.9%
Leisure/Hospitality Services
0.5%
Natural Resources
6.8%
Professional/Business Services
0.8% February 2024
DASHBOARD Trade/Transportation/Utilities
12% 10% 8% 6% 4% 2% 0% -2% -4% -6% -8% -10% -12% -14%
0.0%
1.9% The Road to Prosperity Dashboard 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.
1
THREE ESSENTIAL INSIGHTS: 2012 2014 2016 US
Utah’s taxable retail sales reached a new high in December.
2
2018 2020 Utah
2022
Increased wages and elevated prices continued to bolster taxable retail sales in Utah, which reached $5.25 billion in December. This represents a new high, with the previous record in December 2022 at $5.15 billion.
3
2024
Utah’s labor force participation rate continues to rank first nationally.
Despite falling for 5 consecutive months, Utah’s labor force participation rate comes in first nationally for the 10th consecutive month. The national labor force participation rate has held relatively stable for several months.
Unemployment Rate January 2024
Utah and U.S. consumer sentiment fell slightly in February. National consumer sentiment decreased 2.7% in February. Utah’s sentiment decreased by 1.3% but continues to exceed U.S. sentiment. However, the gap between U.S. and Utah sentiment has narrowed.
Year-Over Job Change January 2024 1.4% 1.4%
4.6% 4.6%
3.3% 3.3%
1.9% 1.9%
4.1% 4.1% 3.3% 3.3% 5.3% 5.3%
2.8% 2.8%
2.8% 2.8%
5.2% 5.2% 4.2% 4.2%
4.0% 4.0%
3.2% 3.2%
2.1% 2.1% 2.5% 2.5%
3.4% 3.4%
3.4% 3.4%
2.7% 2.7%
2.6% 2.6% 3.5% 3.5% 3.9% 3.9%
3.0% 3.0%
3.4% 3.4%
3.7% 3.7% 4.7% 3.5% 4.7% 3.5% 4.3% 4.3% 3.0% 3.0% 3.3% 4.3% 3.3% 4.3% 3.7% 3.7%
3.5% 3.5%
3.5% 3.5%
3.0% 3.0% 3.1% 2.9% 3.1% 2.9% 3.2% 3.2% 4.1% 4.1% 3.1% 3.1%
4.6% 4.6%
2.2% 2.2%
4.5% 4.5%
4.0% 4.0%
1.7% 1.7%
-0.7% -0.7%
3.9% 3.9%
USA 3.9% 3.9% USA VT 2.3% 2.3% VT NH 2.6% 2.6% NH 3.0% MA 3.0% MA CT 4.4% 4.4% CT RI 3.6% 3.6% RI NJ 4.8% 4.8% NJ MD 2.3% 2.3% MD DC 5.0% 5.0% DC DE 4.1% 4.1% DE
1.4% 1.4%
1.9% 1.9%
1.4% 1.4% 2.6% 2.6%
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
2.0% 2.0% 1.6% 1.6%
2.1% 2.1% 1.8% 1.8%
1.0% 1.0%
1.0% 1.0% 0.6% 0.6%
0.7% 0.7%
0.9% 0.9%
1.6% 1.6% 1.0% 1.0%
0.7% 0.7% -0.2%1.6% -0.2% 1.6% 2.0% 2.0% 1.4% 1.4% 0.5% 0.5% 1.6% 1.6% 1.0% 1.0% 1.4% 1.4% 0.1% 0.1% 1.7% 0.8% 1.7% 0.8% 2.7% 2.7% 0.2% 0.2%
2.1% 2.1%
1.8% 1.8%
1.2% 1.2%
0.4% 0.4% 2.6% 2.6%
3.8% 3.8%
3.1% 3.1%
Unemployment Rate
1.4% 1.4%
USA 1.8% 1.8% USA VT 0.6% 0.6% VT NH 1.6% 1.6% NH MA 0.8% 0.8% MA CT 0.7% 0.7% CT RI 2.1% 2.1% RI NJ 2.0% 2.0% NJ MD 0.0% 0.0% MD DC 0.6% 0.6% DC DE 1.1% 1.1% DE
1.0% 1.0% 5.3% 5.3%
Job Growth
-0.7% -0.7%
3.9% 3.9%
Source: U.S. Bureau of Labor Statistics
ROADMAP TO RECOVERY COALITION