Total Total
2.4% 2.4%
Construction Construction
10.3% 10.3%
Manufacturing Manufacturing
0.8% 0.8%
Information Information Financial Financial Activities Activities
3.7% 3.7% -4.5% -4.5%
Leisure Leisure && Hospitality Hospitality
1.9% 1.9%
Other Other Services Services
1.3% 1.3%
Government Government
4.2% 4.2%
Education/Health Education/Health Services Services
3.8% 3.8%
Natural Natural Resources Resources
7.6% 7.6%
Professional/Business Professional/Business Services Services
DASHBOARD
-0.1% -0.1%
Trade/Transportation/Utilities Trade/Transportation/Utilities
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%
January 2023 2.9% 2.9%
2.9% 2.9%
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. 2.4% 2.4%
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 December unemployment rate of 2.2% is the lowest in the nation. December continues a 22-month trend of an unemployment rate below 3.0%.
2
Inflation peaked at 9.0% in June and still remains high at 6.5% in December. Year-over inflation has now fallen for five consecutive months showing signs that price increases may be moderating.
Unemployment Rate December 2022
Home prices moderate. After record-breaking price increases over the last two years, Utah’s median home sales price fell every month from May through September. While home prices rose slightly in October, they fell again in November and December.
Year-Over Job Change December 2022 3.5% 3.5%
4.2% 4.2% 2.8% 2.8%
4.5% 4.5%
2.3% 2.3%
2.9% 2.9% 3.7% 3.7% 5.2% 5.2% 4.1% 4.1%
3
Inflation cools slightly.
2.2% 2.2% 4.0% 4.0%
3.3% 3.3% 3.9% 3.9%
3.8% 3.8%
2.5% 2.5% 3.2% 3.2%
2.3% 2.3% 3.1% 3.1%
4.3% 4.3%
4.3% 4.3%
3.9% 3.9% 4.2% 4.2% 4.7% 4.7% 3.1% 3.1% 4.1% 4.1% 3.0% 3.0% 2.8% 2.9% 2.9% 2.8% 4.0% 4.0% 3.9% 3.9% 3.5% 3.5% 3.6% 3.4% 3.4% 3.6% 3.3% 3.3% 3.0% 2.8% 2.8% 3.0% 4.0% 4.0% 3.9% 3.9% 3.5% 3.5%
2.6% 2.6%
2.5% 2.5%
4.3% 4.3%
4.3% 4.3%
USA USA 3.5% 3.5% VT VT NH NH MA MA CT CT RI RI NJ NJ MD MD DC DC DE DE
2.6% 2.6% 2.7% 2.7% 3.3% 3.3% 4.2% 4.2% 3.5% 3.5% 3.4% 3.4% 4.0% 4.0% 4.7% 4.7% 4.4% 4.4%
1.3% 1.3% 2.8% 2.8%
3.6% 3.6%
2.0% 2.0%
2.4% 2.4%
3.5% 3.5% 3.1% 3.1%
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
3.5% 3.5% 3.0% 3.0%
3.7% 3.7%
2.3% 2.3%
2.8% 2.8%
3.2% 3.2% 2.0% 2.0% 2.2% 2.2%
2.2% 2.2%
3.1% 3.1% 3.4% 3.4%
1.8% 1.8% 2.7% 2.7%1.6% 1.6% 1.7% 1.7% 3.0% 3.0% 2.5% 2.5% 2.3% 1.7% 2.3% 1.7% 4.0% 4.0% 3.3% 3.3% 2.7% 2.7% 1.5% 1.5% 3.3% 3.3% 3.3% 2.7% 2.7% 3.3% 0.0% 0.0% 4.9% 4.9% 2.5% 2.5% 4.7% 4.7%
3.3% 3.3%
USA USA 2.9% 2.9% VT VT 1.3% 1.3% NH NH 2.1% 2.1% MA MA 3.7% 3.7% CT CT 1.4% 1.4% RI RI 1.7% 1.7% NJ NJ 3.5% 3.5% MD MD 1.5% 1.5% DC DC 1.4% 1.4% DE DE 1.4% 1.4%
3.9% 3.9%
3.2% 3.2%
Unemployment Unemployment Rate Rate
1.3% 1.3%
5.2% 5.2%
Job Job Growth Growth
0.0% 0.0%
4.9% 4.9%
Source: U.S. Bureau of Labor Statistics
ROADMAP TO RECOVERY COALITION