Total Total
2.6% 2.6%
Construction Construction
4.8% 4.8%
Manufacturing Manufacturing
2.1% 2.1%
Information Information
3.4% 3.4%
Financial Activities Activities Financial
1.7% 1.7%
Other Services Services Other
2.9% 2.9%
Government Government
4.4% 4.4%
Education/Health Services Services Education/Health
6.9% 6.9%
Leisure/Hospitality Services Services Leisure/Hospitality
-0.4% -0.4%
DASHBOARD
Natural Resources Resources Natural
0.0% 0.0%
Professional/Business Services Services Professional/Business
February 2025 2.9% 2.9%
-1.4% Trade/Transportation/Utilities -1.4% 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% THREE -12% ESSENTIAL INSIGHTS: -12% -14% -14% Utah2012 consumer fell 3.5% 2012 2014 sentiment 2016 2018 2020 2014 2016 2018 2020 US Utah US Utah in January while U.S. sentiment
The Road to Prosperity Dashboard2.6% tracks Utah’s economic outlook. 2.6% 1.4% The Dashboard, which is updated1.4% monthly, provides essential insights, tracks timely and leading measures, and shares salient indicators.
1
declined at a steeper 9.8% rate. Economic uncertainty took a toll on consumers in January, with U.S. sentiment falling to its lowest level since November 2023. Utah sentiment also trended downward, yet it remains higher than average 2024 sentiment (81.1) at 88.1.
2
2022 Annual 2024 taxable retail sales in 2022 2024
Utah increased 2.3% in 2024, with December setting a new high at $5.5 billion. Utah households spent more on taxable retail goods in December 2024 than any preceding month, following general trends of high end-of-year spending. Month-over taxable retail sales increased 19.7% from November to December.
Unemployment Rate December 2024
3
Annual value of construction in Utah declined 1.5% in 2024. Headwinds in Utah’s construction industry continued to add pressure in 2024, contributing to a 1.5% decrease in the value of construction over the year. The residential component share fell from 54.3% of total value to 50.7% from 2023 to 2024 while the additions and repairs component share grew to 28.2%.
Job Change Year-Over Percentage Change December 2024 1.2% 1.2%
4.5% 4.5%
3.1% 3.1%
4.1% 4.1% 3.8% 3.8% 5.7% 5.7%
3.5% 3.5%
3.3% 3.3%
1.9% 1.9% 2.8% 2.8%
3.5% 3.5%
4.4% 4.4%
5.5% 5.5% 3.8% 3.8%
2.5% 2.5%
4.4% 4.4%
3.2% 3.2%
3.6% 3.6% 3.3% 3.3% 4.2% 4.2%
3.0% 3.0% 3.2% 3.2%
4.4% 4.4%
5.0% 5.0%
5.2% 5.2%
3.7% 3.7% 3.4% 3.4%
3.6% 3.6% 4.4% 4.4% 4.5% 4.2% 4.5% 4.2% 3.0% 3.0% 5.2% 5.2%
3.6% 3.6%
3.7% 3.7% 4.7% 4.7%
3.3% 3.3% 3.7% 3.7% 3.3% 3.3% 4.4% 4.4%
4.7% 4.7% 3.0% 3.0%
Unemployment Rate Rate Unemployment
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
0.8% 0.8%
3.4% 3.4%
USA 4.1% 4.1% USA CT 3.0% 3.0% CT DC 5.5% 5.5% DC DE 3.7% 3.7% DE MA 4.1% 4.1% MA MD 3.1% 3.1% MD NH 2.6% 2.6% NH NJ 4.6% 4.6% NJ RI 4.6% 4.6% RI VT 2.4% 2.4% VT
5.7% 5.7%
2.2% 2.2% 3.6% 3.6%
0.6% 0.6%
2.6% 2.6%
1.0% 1.0% 1.7% 1.7%
2.7% 2.7%
1.8% 1.8%
-0.1% -0.1% 2.0% 2.0%
1.6% 1.6%
1.3% 1.3% 1.8% 1.8%
1.5% 1.5%
2.0% 2.0%
0.4% 0.4%
1.2% 1.2% 0.5% 0.5% 0.4% 0.4%
0.9% 0.9%
1.3% 1.3% 1.9% 1.9%
1.1% 1.1% 0.7% 1.5% 0.7% 1.5% 0.2% 0.2% 1.7% 1.7% 2.7% 2.7% 1.4% 1.4% 1.7% 1.7% 1.2% 1.2% 1.7% 1.7% 2.6% 2.6% 1.3% 1.3% 1.2% 1.2% 1.8% 1.8% 1.1% 1.1%
2.8% 2.8% 1.5% 1.5% 1.6% 1.6%
-0.1% JobGrowth Growth -0.1% Job Source: U.S. Bureau of Labor Statistics
1.4% USA 1.4% USA 1.3% CT 1.3% CT 1.7% DC 1.7% DC 0.5% DE 0.5% DE 0.7% MA 0.7% MA 1.4% MD 1.4% MD 2.1% NH 2.1% NH 0.8% NJ 0.8% NJ 1.1% RI 1.1% RI 1.2% VT 1.2% VT
3.6% 3.6%
ROADMAP TO RECOVERY COALITION