DASHBOARD
January 2022
The Roadmap to Prosperity Dashboard tracks Utah’s path to a full and complete economic recovery from the COVID-19 recession. The Dashboard, which is updated monthly, provides essential insights, tracks timely and leading measures, and shares salient indicators since the start of the pandemic. THREE ESSENTIAL INSIGHTS:
1
Utah’s two-year job growth is highest in the nation.
Utah’s November two-year job growth of 3.6% is the highest in the nation and one of only four states showing positive job change.
2
U tah’s unemployment rate drops to all-time low. Utah’s November unemployment rate of 2.1% is the lowest ever recorded and ranks second in the nation.
Utah Continued Weekly Unemployment Claims March 2020 – October 2021 2020
3
Consumer Confidence Falls in Utah. For the first time since data collection began, Utah’s consumer confidence fell while the nation’s rose. Consumer confidence has been in decline since September 2020.
Utah Job Change by Industry November 2019 - November 2021 3.6%
Total
2021
8.2%
Construction
100,000
6.0%
Manufacturing Continued Claims 2019 Average
3.5%
Information
5.6%
Financial Activities 50,000
-1.1%
Leisure & Hospitality
1.2%
Other Services -2.1%
Government
Unemployment Rate 12% Source: 10% Utah Department of Workforce Services 8% 6% 4% 2% 0.5% 0% S-2% A L 0.1% T LAKE CHAMBER -4% -6% -8%
4.9% 4.1%
2.2% 10/2
2.4% 9/11
3.0% 2/13 3/6 2.9% 3/27 2.8% 4/17 5/8 2.7% 5/29 2.8% 6/19 7/10 2.6% 7/31 2.5% 8/21
3.5% 12/5 1/2 3.3% 1/23
5.3% 6/20 4.5% 7/11 8/1 4.1% 8/22 5.0% 9/12 10/3 4.1% 10/24 4.3% 11/14
3.8% 3/28 10.4% 4/18 5/9 8.6% 5/30
0
1.4%
Education/Health Services Natural Resources
-9.7%
Professional/Business Services
7.3%
Trade/Transportation/Utilities
7.0%
Note: Beginning March 2021, a 2-year change is used due to the drastic changes in employment beginning March 2020. Source: U.S. Bureau of Labor Statistics
ROADMAP TO RECOVERY COALITION