Total Total
3.5% 3.5%
Construction Construction
7.1% 7.1%
Manufacturing Manufacturing
3.5% 3.5%
Information Information
12.3% 12.3%
Financial Activities Activities -1.7% -1.7% Financial Leisure & & Hospitality Hospitality Leisure
7.7% 7.7%
Other Services Services Other
4.2% 4.2%
Government Government
1.4% 1.4%
Education/Health Services Services Education/Health
5.1% 5.1%
Natural Resources Resources Natural
5.4% 5.4%
Professional/Business Services Services Professional/Business
-1.2% -1.2%
DASHBOARD
August 2022
Trade/Transportation/Utilities 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% -12% -12% -14% -14%
4.4% 4.4%
4.0% 4.0% 3.5% 3.5%
The Road to Prosperity Dashboard tracks Utah’s economic outlook. The Dashboard, which is updated monthly, provides essential insights, tracks timely and leading measures, and shares salient indicators. 2011 2012 2012 2013 2013 2014 2014 2015 2015 2016 2016 2017 2017 2018 2018 2019 2019 2020 2020 2021 2021 2022 2022 2011 US Utah US Utah
THREE ESSENTIAL INSIGHTS:
1
Utah’s unemployment rate ranks second in the nation. Utah’s July unemployment rate of 2.0% is the second lowest in the nation, tied with Nebraska and New Hampshire and closely trailing Minnesota.
2
Home prices begin to stabilize. After rapid housing increases over the last year, Utah’s median home sales price has begun to stabilize falling slightly from $535,050 in May to $530,000 in June 2022.
Unemployment Rate July 2022
3
Consumer confidence lowest on record. Utah’s July consumer confidence fell again and is the lowest since data collection began in October 2020. National confidence increased slightly from June to July.
Year-Over Job Change July 2022 4.1% 4.1%
3.7% 3.7% 2.7% 2.7%
3.5% 3.5% 2.6% 2.6% 4.4% 4.4% 3.9% 3.9%
3.0% 3.0%
2.3% 2.3%
2.8% 2.8%
3.3% 3.3%
3.3% 3.3%
4.5% 4.5%
3.0% 4.2% 3.0% 4.2%
2.3% 2.3%
4.5% 4.5%
3.6% 3.6%
4.4% 4.4%
3.0% 3.0%
2.5% 2.5%
4.3% 3.9% 4.3% 3.9% 4.4% 4.4% 2.6% 3.7% 2.6% 3.7% 2.7% 2.5% 2.7% 2.4% 2.5% 2.4% 3.7% 3.7% 3.4% 3.4% 3.3% 3.3% 3.3% 3.0% 3.3% 3.0% 3.2% 3.2% 2.8% 2.8% 3.6% 3.6% 2.6% 2.6% 4.0% 4.0% 3.6% 3.6%
2.0% 2.0% 2.0% 2.0%
3.5% 3.5%
1.8% 1.8%
2.7% 2.7%
5.5% 5.5%
USA 3.5% 3.5% USA VT VT NH NH MA MA CT CT RI RI NJ NJ MD MD DC DC DE DE
2.1% 2.1% 2.0% 2.0% 3.5% 3.5% 3.7% 3.7% 2.7% 2.7% 3.7% 3.7% 3.9% 3.9% 5.2% 5.2% 4.4% 4.4%
4.3% 4.3%
1.8% 1.8%
Source: U.S. Bureau of Labor Statistics
S A LT L A K E C H A M B E R
2.2% 2.2% 1.9% 1.9%
3.5% 3.5%
3.7% 3.7% 1.0% 1.0%
4.0% 4.0%
2.9% 2.9%
2.7% 2.7% 1.5% 1.5%
3.5% 3.5%
0.7% 0.7%
5.0% 5.0%
3.8% 3.8% 1.6% 2.7%1.6% 2.7% 2.6% 2.6% 4.1% 4.1% 3.0% 3.0% 2.4% 2.4% 2.2% 2.2% 3.7% 3.7%
2.4% 2.4%
3.0% 3.4% 3.0% 3.4%
3.9% 3.9%
5.8% 5.8%
3.6% 3.6% 1.9% 1.9% 4.7% 4.7% 1.7% 1.7% 2.3% 2.3% 5.1% 5.1%
4.1% 4.1%
Unemployment Rate Rate Unemployment
2.5% 2.5%
2.8% 2.8%
USA 4.0% 4.0% USA VT 2.4% 2.4% VT NH 2.6% 2.6% NH MA 4.2% 4.2% MA CT 2.2% 2.2% CT RI 3.2% 3.2% RI NJ 5.0% 5.0% NJ MD 2.6% 2.6% MD DC 3.0% 3.0% DC DE 2.6% 2.6% DE
2.2% 2.2% 5.2% 5.2%
Job Growth Growth Job
0.7% 0.7%
5.8% 5.8%
Source: U.S. Bureau of Labor Statistics
ROADMAP TO RECOVERY COALITION