Construction Construction
6.6% 6.6%
Manufacturing Manufacturing
3.9% 3.9% 12.3% 12.3%
Information Information Financial FinancialActivities Activities -0.5% -0.5% 7.3% 7.3%
Leisure Leisure&&Hospitality Hospitality 3.8% 3.8%
Other OtherServices Services
2.1% 2.1%
Government Government
3.5% 3.5%
Education/Health Education/HealthServices Services
14.9% 14.9%
Natural NaturalResources Resources Professional/Business -0.2% Professional/BusinessServices Services -0.2% 3.7% 3.7%
Trade/Transportation/Utilities Trade/Transportation/Utilities
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%
June 2022
4.5% 4.5% 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 second in the nation. Utah’s May unemployment rate of 2.0% is the second lowest in the nation, tied with Minnesota and closely trailing Nebraska.
2
3
Utah home prices continue to rise. Utah’s home prices have risen drastically over the last year with a median home sale price of $535,000 in April 2022.
Unemployment Rate May 2022
Consumer confidence falls in Utah. With some minor fluctuations, consumer confidence in Utah has been declining over the last several months. May’s consumer confidence is the lowest since data collection began in October 2020.
Year-Over Job Change May 2022
3.9% 3.9%
4.7% 4.7% 2.4% 2.4%
3.6% 3.6% 2.5% 2.5%
2.6% 2.6% 2.3% 2.3%
4.3% 4.3% 1.9% 1.9%
4.3% 4.3% 3.2% 3.2%
3.5% 3.5%
5.1% 5.1%
2.7% 2.7%
4.7% 4.7%
3.0% 2.7% 2.7% 3.0% 4.0% 4.0% 4.0% 4.0% 3.0% 3.0%
Source: U.S. Bureau of Labor Statistics
S A LT L A K E C H A M B E R
2.0% 2.0%
2.6% 2.6% 1.8% 1.8%
1.9% 1.9%
USA USA 3.6% 3.6% VT 2.3% VT 2.3% NH 2.1% NH 2.1% MA 3.9% MA 3.9% CT 4.2% CT 4.2% RI 2.9% RI 2.9% NJ 3.9% NJ 3.9% MD 4.0% MD 4.0% DC 5.7% DC 5.7% DE 4.5% DE 4.5%
2.2% 2.2%
7.4% 7.4%
3.5% 3.5%
5.1% 5.1%
3.5% 3.5%
4.8% 4.8%
4.8% 4.8%
3.7% 3.7%
5.3% 5.3% 3.5% 3.5%
2.1% 2.1%
2.1% 2.1% 4.3% 4.3%3.5% 4.0% 3.5% 4.0% 3.2% 1.4% 3.2% 1.4% 2.3% 2.3% 2.6% 2.6% 3.6% 3.6% 2.5% 2.5% 2.6% 2.6% 3.3% 3.3% 2.2% 2.2% 5.2% 5.2% 2.6% 2.6% 6.1% 6.1% 2.2% 2.2% 5.4% 5.4%
2.5% 2.5%
4.2% 4.2%
Unemployment 1.9% UnemploymentRate Rate 1.9%
2.1% 2.1% 1.8% 1.8%
2.7% 2.7%
4.4% 4.4% 4.6% 4.6%
3.9% 3.9% 2.2% 4.6% 4.6%2.2% 3.5% 3.5% 2.3% 2.3% 3.0% 3.0% 3.1% 3.1% 3.8% 3.8% 3.4% 3.4% 3.3% 3.3% 2.8% 2.8% 3.2% 3.2% 3.3% 3.3% 4.2% 4.2%
3.0% 3.0%
4.5% 4.5%
2.9% 2.9%
3.2% 3.2%
4.9% 4.9% 2.0% 2.0%
3.2% 3.2%
2.0% 2.0%
USA USA 4.5% 4.5% VT 1.5% VT 1.5% NH 2.8% NH 2.8% MA 4.7% MA 4.7% CT 2.6% CT 2.6% RI 3.3% RI 3.3% NJ 5.1% NJ 5.1% MD 2.9% MD 2.9% DC 4.4% DC 4.4% DE 1.8% DE 1.8%
3.7% 3.7% 5.7% 5.7%
Job JobGrowth Growth
1.4% 1.4%
7.4% 7.4%
Source: U.S. Bureau of Labor Statistics
ROADMAP TO RECOVERY COALITION