Total
1.9%
Construction
5.4%
Manufacturing
0.3%
Information
-1.8%
Financial Activities
-2.1%
Other Services
2.5%
Government
4.9%
Education/Health Services
4.1%
Leisure/Hospitality Services
0.9%
Natural Resources
4.8%
DASHBOARD
1.2% March 2024
Professional/Business Services Trade/Transportation/Utilities
12% 10% 8% 6% 4% 2% 0% -2% -4% -6% -8% -10% -12% -14%
-0.1%
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 unemployment rate remains low.
2
2018 2020 Utah
Although up from an all-time low in early 2022, Utah’s unemployment rate remains low at 2.8%. A strong labor market continues to buoy Utah’s employment growth and keep unemployment low.
2022
Utah consumer sentiment dips below national sentiment.
Utah’s consumer sentiment fell to 78.0, and national sentiment increased to 79.4. While this represents the first time Utah ranked lower than the nation by this measure since Utah’s consumer sentiment survey first began in 2020, the difference between both values is not statistically significant.
Unemployment Rate February 2024
4.2% 4.2% 3.3% 3.3% 5.2% 5.2%
2.8% 2.8%
2.8% 2.8%
5.3% 5.3% 4.1% 4.1%
2.0% 2.0%
3.9% 3.9%
2.1% 2.1%
3.0% 3.0%
1.9% 1.9% -0.4% -0.4%
3.9% 3.9%
4.4% 4.4% 3.4% 3.4%
2.9% 2.9%
3.7% 3.7% 4.8% 4.8% 3.5% 4.3% 3.5% 4.3% 3.0% 3.0% 2.7% 3.3% 2.7% 3.3% 4.4% 4.4% 3.5% 3.5% 3.3% 3.3% 3.6% 3.6% 3.6% 3.6% 3.1% 3.1% 3.0% 3.0% 3.1% 3.1% 3.1% 3.1% 3.9% 3.9% 4.2% 4.2%
4.7% 4.7%
3.1% 3.1%
3.0% 3.0% 3.5% 3.5%
USA 3.9% 3.9% USA VT 2.3% 2.3% VT NH 2.6% 2.6% NH 2.9% MA 2.9% MA CT 4.5% 4.5% CT RI 3.9% 3.9% RI NJ 4.8% 4.8% NJ MD 2.4% 2.4% MD DC 5.1% 5.1% DC DE 4.0% 4.0% DE
1.2% 1.2%
2.2% 2.2%
1.0% 1.0% 2.1% 2.1%
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
0.9% 0.9%
0.7% 0.7%
1.9% 1.9%
1.0% 1.0% 1.8% 1.8%
1.6% 1.6%
2.2% 2.2% 3.7% 3.7%
1.2% 1.2%
1.3% 1.3%
1.9% 1.9%
1.9% 1.9%
1.3% 1.3%
0.9% 0.9%
1.2% 1.2%
1.2% 1.2%
0.5% 0.5% 0.4% 0.4% 1.3% 1.8% 1.3% 1.8%1.4% 1.4% 0.9% 0.9% 1.9% 1.9% 1.5% 1.5% 0.1% 0.1% 2.9% 2.9% 1.0% 1.0% 1.0% 1.0% 0.4% 0.4% 1.8% 1.8% 0.1% 0.1% 2.3% 2.3%
3.1% 3.1%
Unemployment Rate
During the first two months of 2023, airport passengers totaled 4.1 million. Yet in the first two months of 2024, airport passengers reached 4.4 million, a 7.0% increase. Increased capacity allows more passengers to fly in and out.
1.5% 1.5%
3.4% 3.4%
2.7% 2.7%
2.5% 2.5% 3.5% 3.5%
Salt Lake City International Airport passengers increased 7.0% year to date.
Year-Over Job Change February 2024
4.7% 4.7% 3.4% 3.4%
3
2024
USA 1.8% 1.8% USA VT 0.9% 0.9% VT NH 1.4% 1.4% NH MA 0.8% 0.8% MA CT 1.1% 1.1% CT RI 1.8% 1.8% RI NJ 1.4% 1.4% NJ MD 0.2% 0.2% MD DC 0.8% 0.8% DC DE 1.1% 1.1% DE
0.2% 0.2% 5.3% 5.3%
Job Growth
-0.4% -0.4%
3.7% 3.7%
Source: U.S. Bureau of Labor Statistics
ROADMAP TO RECOVERY COALITION