Total
1.8%
Construction
6.2%
Manufacturing
1.2%
Information
0.7%
Financial Activities
1.0%
Other Services
0.9%
Government
3.7%
Education/Health Services
4.9%
Leisure/Hospitality Services
-0.3%
DASHBOARD
Natural Resources
0.9%
Professional/Business Services
1.3%
October 2024
Trade/Transportation/Utilities -1.5%
12% 10% 8% 6% 4% 2% 0% -2% -4% -6% -8% -10% -12% THREE ESSENTIAL INSIGHTS: -14% 2012 2014 2016 2018 2020 Both Utah and U.S. consumer US Utah
The Road to Prosperity Dashboard1.8%tracks Utah’s economic outlook. 1.5% The Dashboard, which is updated monthly, provides essential insights, tracks timely and leading measures, and shares salient indicators.
1
sentiment increased in October. Utah sentiment climbed above its year-to-date 2024 average while the
2
2022
2024
Utah’s year-over percent change in employment continues to converge with national trends. Historically, employment growth in
3
While remaining relatively high, Utah’s labor force participation rate decreased slightly. Utah’s labor force participation rate fell
average U.S. consumer feels less
Utah surpassed national employment
from 69.7% in September 2023 to 68.4%
optimistic now relative to earlier in the
growth; however, this trend has
one year later. During the same
year. Economic uncertainty remains as
moderated in recent months, with
timeframe, U.S. labor force participation
labor markets soften yet inflation
Utah employment growth nearing
rate remained essentially unchanged,
continues to abate.
levels seen nationally.
falling slightly from 62.8% to 62.7%.
Unemployment Rate September 2024
Job Change Year-Over Percentage Change September 2024
4.8% 4.8% 3.3% 3.3%
4.0% 4.0% 3.6% 3.6% 5.6% 5.6%
3.5% 3.5%
5.3% 5.3% 3.5% 3.5%
2.3% 2.3%
3.1% 3.1%
3.4% 3.4%
2.7% 2.7% 4.0% 4.0% 4.2% 4.2%
3.3% 3.3% 3.4% 3.4% 4.1% 4.1%
4.6% 4.6%
0.6%
2.9% 2.9%
2.0% 2.0%
1.6%
2.8% 2.8%
4.5% 4.5%
4.4% 4.4%
3.4% 3.4% 4.5% 4.5% 5.3% 4.3% 5.3% 4.3% 4.2% 4.2% 2.9% 2.9% 4.9% 4.9% 3.9% 3.9% 3.8% 3.8% 3.2% 3.2% 4.5% 4.5% 3.3% 3.3% 2.8% 2.8% 3.6% 3.6% 2.9% 2.9% 3.9% 3.9%
2.9% 2.9%
3.3% 3.3%
3.6% 3.5%
1.8%
USA 4.1% 4.1% USA CT 3.2% 3.2% CT DC 5.7% 5.7% DC DE 4.2% 4.2% DE MA 3.8% 3.8% MA MD 2.9% 2.9% MD NH 2.5% 2.5% NH NJ 4.7% 4.7% NJ RI 4.6% 4.6% RI VT 2.2% 2.2% VT
2.3%
1.8%
1.8%
1.4% 2.1%
2.0% Unemployment Rate 2.0%
S A LT L A K E C H A M B E R
1.1% 1.3%
0.5%
0.6%
1.4% 1.2%
1.6%
2.2% 2.6% 2.6%
1.1% 0.6%
0.8%
1.5% 1.6%
1.0% 0.9% 1.8% 0.6% 1.5% 2.8% 1.0% 1.6% 1.0% 1.3% 3.2% 0.6% 1.6% 1.9% -0.1% 2.1%
USA 1.5% 1.5% USA CT 0.7% 0.7% CT DC 1.0% 1.0% DC DE 0.9% 0.9% DE MA 0.9% 0.9% MA MD 0.7% 0.7% MD NH 1.9% 1.9% NH NJ 1.2% 1.2% NJ RI 1.6% 1.6% RI VT 2.0% 2.0% VT
1.5% 1.5%
2.9% 2.9%
Source: U.S. Bureau of Labor Statistics
2.3%
5.7% 5.7%
0.3% Job Growth 0.3%
3.4% 3.4%
Source: U.S. Bureau of Labor Statistics
ROADMAP TO RECOVERY COALITION