Construction Construction
8.3% 8.3%
Manufacturing Manufacturing
3.9% 3.9%
Information Information
13.4% 13.4%
Financial FinancialActivities Activities 0.1% 0.1% Leisure Leisure&&Hospitality Hospitality
5.8% 5.8%
Other OtherServices Services Government Government
3.0% 3.0% 1.4% 1.4%
Education/Health Education/HealthServices Services
3.4% 3.4%
Natural NaturalResources Resources
11.4% 11.4%
Professional/Business Professional/BusinessServices Services 0.1% 0.1% Trade/Transportation/Utilities Trade/Transportation/Utilities
4.2% 4.2%
DASHBOARD 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%
July 2022
4.2% 4.2% 3.5% 3.5%
The Road to Prosperity Dashboard tracks Utah’s economic outlook. The Dashboard, which is updated monthly, provides essential insights, 2011 2011 2012 2012 2013 2013 2014 2014 2015 2015 2016 2016 2017 2017 2018 2018 2019 2019 2020 2020 2021 2021 2022 2022 tracks timely and leading US Utah US Utah measures, and shares salient indicators. THREE ESSENTIAL INSIGHTS:
1
Utah’s unemployment rate ranks third in the nation.
2
Utah’s June unemployment rate of 2.0% is the third lowest in the nation, tied with New Hampshire and closely trailing Minnesota and Nebraska.
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 June 2022 3.9% 3.9%
2.6% 2.6%
3.6% 3.6% 2.5% 2.5% 4.7% 4.7% 4.2% 4.2%
2.0% 2.0% 3.3% 3.3%
3.4% 3.4%
4.9% 4.9%
4.6% 4.6%
Utah’s June consumer confidence is the lowest since data collection began in October 2020. National confidence is also the lowest in the survey’s 70-year history.
4.5% 4.5%
3.0% 3.0%
1.8% 1.8%
3.6% 3.6% 5.2% 5.2%
2.9% 2.9%
4.4% 4.4% 4.3% 4.3% 2.6% 4.5% 2.6% 4.5% 3.9% 1.9% 3.9% 1.9% USA USA 3.6% 3.6% 2.4% 2.4% 4.5% 4.5% 3.6% 3.6% VT 2.2% 2.8% VT 2.2% 2.8% 2.8% 2.8% 3.7% 3.7% 2.4% 2.4% NH NH 2.0% 2.0% 3.4% 3.4% 3.3% 3.3% 3.7% MA 3.7% MA 3.2% 2.9% 2.9% 3.2% 3.2% 3.2% 2.6% CT 2.6% CT 4.0% 4.0% 2.9% 2.9% RI RI 2.7% 2.7% 3.8% 3.8% 4.1% 4.1% NJ NJ 3.9% 3.9% 3.8% 3.8% MD MD 4.0% 4.0% DC DC 5.5% 5.5% 2.8% 2.8% DE DE 4.5% 4.5%
2.3% 2.3%
3.1% 3.1%
6.9% 6.9%
3.5% 3.5%
5.3% 5.3%
3.6% 3.6%
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
3.1% 3.1% 2.3% 2.3%
2.2% 2.2% 4.3% 4.3%
5.6% 5.6%
2.2% 2.2%
2.7% 2.7%
3.2% 3.2% 1.7% 1.7% 2.8% 2.8%
3.8% 3.8%
5.3% 5.3% 4.1% 4.1%
1.8% 1.8% 4.3% 4.3% 3.3% 3.3% 3.3% 3.3% 2.0% 3.2% 2.0% 3.2% 2.6% 2.6% 3.0% 3.0% 3.8% 4.5% 3.8% 4.5% 2.6% 2.6% 3.0% 3.8% 3.8% 3.0% 5.5% 5.5% 3.1% 3.1% 2.0% 2.0% 2.0% 6.2% 2.0% 6.2%
2.8% 2.8%
5.5% 5.5%
4.3% 4.3%
Unemployment UnemploymentRate Rate
Consumer confidence lowest on record.
Year-Over Job Change June 2022 2.5% 2.5%
3.1% 3.1%
3
Home prices begin to stabilize.
USA USA 4.2% 4.2% VT VT 2.5% 2.5% NH NH 3.2% 3.2% MA MA 4.7% 4.7% CT CT 2.7% 2.7% RI RI 3.6% 3.6% NJ NJ 5.6% 5.6% MD MD 3.3% 3.3% DC DC 3.3% 3.3% DE DE 3.2% 3.2%
3.2% 3.2% 5.5% 5.5%
Job JobGrowth Growth
1.7% 1.7%
6.9% 6.9%
Source: U.S. Bureau of Labor Statistics
ROADMAP TO RECOVERY COALITION