Data Appendix Fiscal and Economic Measures
$$$millions millions $millions millions $ millions
Cash --funded fundedBuildings Buildingsand andRoads Roads Cash Cash Buildings and Roads Cash -- funded -funded fundedBuildings Buildingsand and Roads Cash Roads Cash-funded Buildings and Roads $1,000 $1,000 $1,000 $1,000 $1,000 $804 $804 $800 $741 $713$804 $804 $800 $804 $741 $800 $800 $713 $800 $741 $741$713 $741 $713 $713 $600 $554 $600 $554 $600 $554 $600 $473 $600 $554 $455 $473 $554 $455 $473 $401 $473 $473 $455 $455 $455 $400 $401 $401 $400 $401 $401 $400 $400 $400 $263 $263 $263 $263 $200 $128 $161$263 $200 $161 $128 $200 $161 $200 $128 $161 $200 $161 $128 $49 $128 $49 $49 $0 $49 $49 $0 FY11 FY12 FY13 FY13 FY14 FY14 FY15 FY15 FY16 FY16 FY17 FY17 FY18 FY18 FY19 FY19 FY20 FY20 FY21 FY21 $0 $0$0 FY11 FY12 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY11FY12 FY12FY13 FY13FY14 FY14FY15 FY15FY16 FY16FY17 FY17FY18 FY18FY19 FY19FY20 FY20FY21 FY21 FY11 Source: Utah Governor’s Office of Management and Budget and Utah Office of the Legislative Fiscal Analyst
410Kjobs jobs ++410K 410K jobs 410Kjobs jobs +++410K
Jan-10 Jan-10 Jan-10 Jan-10 Jan-10 Jun-10 Jun-10 Jun-10 Jun-10 Jun-10 Nov-10 Nov-10 Nov-10 Nov-10 Nov-10 Apr-11 Apr-11 Apr-11 Apr-11 Apr-11 Sep-11 Sep-11 Sep-11 Sep-11 Sep-11 Feb-12 Feb-12 Feb-12 Feb-12 Feb-12 Jul-12 Jul-12 Jul-12 Jul-12 Jul-12 Dec-12 Dec-12 Dec-12 Dec-12 Dec-12 May-13 May-13 May-13 May-13 May-13 Oct-13 Oct-13 Oct-13 Oct-13 Oct-13 Mar-14 Mar-14 Mar-14 Mar-14 Mar-14 Aug-14 Aug-14 Aug-14 Aug-14 Aug-14 Jan-15 Jan-15 Jan-15 Jan-15 Jan-15 Jun-15 Jun-15 Jun-15 Jun-15 Jun-15 Nov-15 Nov-15 Nov-15 Nov-15 Nov-15 Apr-16 Apr-16 Apr-16 Apr-16 Apr-16 Sep-16 Sep-16 Sep-16 Sep-16 Sep-16 Feb-17 Feb-17 Feb-17 Feb-17 Feb-17 Jul-17 Jul-17 Jul-17 Jul-17 Jul-17 Dec-17 Dec-17 Dec-17 Dec-17 Dec-17 May-18 May-18 May-18 May-18 May-18 Oct-18 Oct-18 Oct-18 Oct-18 Oct-18 Mar-19 Mar-19 Mar-19 Mar-19 Mar-19 Aug-19 Aug-19 Aug-19 Aug-19 Aug-19 Jan-20 Jan-20 Jan-20 Jan-20 Jan-20
Source: Utah Governor’s Office of Management and Budget and Utah Office of the Legislative Fiscal Analyst
CumulativeUtah Utah JobGains Gains Cumulative Utah Jobs Gains Cumulative Job Cumulative Utah Job Gains CumulativeUtah UtahJob JobGains Gains Cumulative 450 450 450 450 450 400 400 400 400 400 350 350 350 350 350 300 300 300 300 300 250 250 250 250 250 200 200 200 200 200 150 150 150 150 150 100 100 100 100 100 50 50 50 50 50 00 000
Source: U.S. Bureau of Labor Statistics
Utahand andU.S. U.S.Unemployment UnemploymentRates Rates Utah Utah and U.S. Unemployment Rates Utah and U.S. Unemployment Rates Utahand and U.S. Unemployment Rates Utah U.S. Unemployment Rates 10.0% 10.0% 10.0% 9.0% 10.0% 10.0% 9.0% 9.0% 8.0% 9.0% 9.0% 8.0% 8.0% 7.0% 8.0% 8.0% 7.0% 7.0% 7.0% 7.0% 6.0% 6.0% 6.0% 5.0% 6.0% 6.0% 5.0% 5.0% 4.0% 5.0% 5.0% 4.0% 4.0% 4.0% 4.0% 3.0% 3.0% 3.0% 2.0% 3.0% 3.0% 2.0% 2.0% 1.0% 2.0% 2.0% 1.0% 1.0% 1.0% 1.0% 0.0% 0.0% 0.0% 0.0% 0.0%
U.S.,3.6% 3.6% U.S., U.S., 3.6% U.S.,3.6% 3.6% U.S., Utah,2.5% 2.5% Utah, Utah, 2.5% Utah,2.5% 2.5% Utah,
Jan-10 Jan-10 Jan-10 Jan-10 Jan-10 Jun-10 Jun-10 Jun-10 Jun-10 Jun-10 Nov-10 Nov-10 Nov-10 Nov-10 Nov-10 Apr-11 Apr-11 Apr-11 Apr-11 Apr-11 Sep-11 Sep-11 Sep-11 Sep-11 Sep-11 Feb-12 Feb-12 Feb-12 Feb-12 Feb-12 Jul-12 Jul-12 Jul-12 Jul-12 Jul-12 Dec-12 Dec-12 Dec-12 Dec-12 Dec-12 May-13 May-13 May-13 May-13 May-13 Oct-13 Oct-13 Oct-13 Oct-13 Oct-13 Mar-14 Mar-14 Mar-14 Mar-14 Mar-14 Aug-14 Aug-14 Aug-14 Aug-14 Aug-14 Jan-15 Jan-15 Jan-15 Jan-15 Jan-15 Jun-15 Jun-15 Jun-15 Jun-15 Jun-15 Nov-15 Nov-15 Nov-15 Nov-15 Nov-15 Apr-16 Apr-16 Apr-16 Apr-16 Apr-16 Sep-16 Sep-16 Sep-16 Sep-16 Sep-16 Feb-17 Feb-17 Feb-17 Feb-17 Feb-17 Jul-17 Jul-17 Jul-17 Jul-17 Jul-17 Dec-17 Dec-17 Dec-17 Dec-17 Dec-17 May-18 May-18 May-18 May-18 May-18 Oct-18 Oct-18 Oct-18 Oct-18 Oct-18 Mar-19 Mar-19 Mar-19 Mar-19 Mar-19 Aug-19 Aug-19 Aug-19 Aug-19 Aug-19 Jan-20 Jan-20 Jan-20 Jan-20 Jan-20
$$$millions millions $millions millions $ millions
Rainy DayDay Funds Rainy Rainy Day Rainy Day RainyDay Day Rainy $1,000 $932 $1,000 $1,000 $894$932 $932 $1,000 $1,000 $894 $932 $932 $894 $894 $803 $894 $800 $803 $800 $803 $803 $803 $800 $684 $800 $800 $684 $684 $684 $570$684 $600 $542 $570 $600 $528 $542 $570 $570 $600 $528 $542 $570 $600 $600 $469 $542 $542 $528 $528 $469 $528 $420$469 $420 $469 $469 $400 $420 $420 $400 $400 $294$420 $400 $245 $294 $400 $294 $245 $294 $294 $245 $200 $245 $245 $200 $200 $200 $200 $0 $0 FY11 FY12 FY12 FY13 FY13 FY14 FY14 FY15 FY15 FY16 FY16 FY17 FY17 FY18 FY18 FY19 FY19 FY20 FY20 FY21 FY21 $0 $0 FY11 $0 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY11FY12 FY12FY13 FY13FY14 FY14FY15 FY15FY16 FY16FY17 FY17FY18 FY18FY19 FY19FY20 FY20FY21 FY21 FY11
immediately available options like reprioritizing current budget allocations and drawing on operating reserves. At the national level, the Federal Reserve continues to take immediate and aggressive monetary policy action to encourage economic activity, preserve liquidity, and protect the financial system. The U.S. government is enacting significant fiscal policies to assist individuals, businesses, and state and local governments. This data appendix includes an accounting of Utah’s reserve funds and federal monetary and fiscal policy, which are important elements in Utah’s economic recovery, as of March 23, 2020.
thousands thousands thousands thousands thousands
From 2009 to 2020, Utah and the nation experienced the longest, sustained economic expansion in history. Utah created over 400,000 jobs, and unemployment dropped to a historic low. Utah has used this time to build up significant reserves that can help to support the economy and mitigate impacts to critical public services like education, public safety, transportation, and public health and social safety-net programs. Utah’s official rainy day funds (budget reserve and disaster recovery accounts), “working” rainy day funds (cash appropriated for buildings and roads that can be replaced with borrowing), and unemployment insurance trust fund balance are at record levels. These reserves are in addition to
Source: U.S. Bureau of Labor Statistics
$$$millions millions $millions millions $ millions
UnemploymentInsurance InsuranceTrust TrustFund FundBalance Balance Unemployment Unemployment Trust Fund Balance Unemployment Insurance Trust Fund Balance Unemployment InsuranceInsurance TrustFund FundBalance Balance Unemployment Insurance Trust $1,168 $1,168 $1,200 $1,122 $1,168 $1,168 $1,168 $1,200 $1,122 $1,073 $1,200 $1,200 $1,200 $1,122 $1,122 $1,122 $1,073 $1,007 $1,073 $1,073 $1,073 $1,000 $1,007 $940$1,007 $1,000 $940 $1,007 $1,007 $1,000 $940 $1,000 $1,000 $940 $820$940 $820 $800 $820 $820 $820 $800 $800 $657 $800 $800 $657 $657 $600 $657 $657 $600 $493 $600 $459 $600 $459 $493 $600 $493 $493 $459 $459 $352$493 $400 $459 $352 $400 $293$352 $352 $400 $352 $400 $293 $400 $293 $293 $293 $200 $200 $200 $200 $200 $0 $0 CY10 CY11 CY11 CY12 CY12 CY13 CY13 CY14 CY14 CY15 CY15 CY16 CY16 CY17 CY17 CY18 CY18 CY19 CY19 CY20 CY20 $0 $0 CY10 $0 CY10 CY11 CY12 CY13 CY14 CY15 CY16 CY17 CY18 CY19 CY20 CY10CY11 CY11CY12 CY12CY13 CY13CY14 CY14CY15 CY15CY16 CY16CY17 CY17CY18 CY18CY19 CY19CY20 CY20 CY10 Source: U.S. Department of the Treasury
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