Utah keeps adding workers even as U.S. job market slows – The Spectrum

Utah added about 38,200 new jobs in the 12-month period between October 2022 and October 2023, a 2.2% year-over-year increase.

The unemployment rate, adjusted for seasonal variations, remained near historic lows at just 2.7%, but it was rising, having gone up a tenth of a percentage point from the previous month, according to figures reported by the Utah Department of Workforce Services.

“Over the past few months, job growth rates in Utah have maintained around the 2% range,” said Mark Knold, Chief Economist at the DWS. “While slightly below the state’s long-term average, it’s remarkable that this deceleration in job growth has only recently occurred — especially considering the record low unemployment of the past year.”

Source link

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top