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
2.4%
Trade/Transportation/Utilities
12% 10% 8% 6% 4% 2% 0% -2% -4% -6% -8% -10% -12% THREE ESSENTIAL INSIGHTS: -14% 2012 2014 2016 2018 2020 Utah annual employment US Utah
July 2024
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.
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growth accelerated to 2.8% while U.S. employment growth slowed to 1.6%.
Utah’s strong year-over employment growth increases the state’s ranking from 11th in May to 6th highest employment growth in July. Conversely, U.S. employment growth has slowed for four consecutive months.
passengers reached a monthly high in June with nearly 2.6 million travelers. Salt Lake City airport travel continues to rise. July 2023 set the previous record, yet increased demand and capacity continue to contribute to the airport’s increased traffic.
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
After inflation upticks earlier in the year, inflation has fallen for four consecutive months, increasing expectations that the Federal Reserve will begin to lower the federal funds rate in coming months.
Year-over inflation fell to 2.9% in July.
Year-Over Job Change July 2024
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2022 Salt2024 Lake City airport
5.5% 5.5%
Source: U.S. Bureau of Labor Statistics
ROADMAP TO RECOVERY COALITION