2.1%
Total
2.9%
Construction Manufacturing -0.7% Information
6.2% 0.8%
Financial Activities
10.0%
Other Services Government
3.1%
Education/Health Services
3.4% 5.9%
Leisure/Hospitality Services 2.0%
Natural Resources
DASHBOARD
0.2%
Professional/Business Services
October 2023
Trade/Transportation/Utilities -0.6%
12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% -2.0% -4.0% -6.0% -8.0% -10.0% -12.0% -14.0%
2.1%
The Road to Prosperity Dashboard tracks Utah’s economic outlook. 2.1% The Dashboard, which is updated monthly, provides essential insights, tracks timely and leading measures, and shares salient indicators.
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THREE ESSENTIAL INSIGHTS: 2012 2014 2016 US
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2018 2020 Utah
Utah consumer sentiment falls 9.4% while U.S. sentiment falls 6.0% in October. After a slight uptick in September, Utah’s consumer sentiment dropped from 76.3 to 69.1 in October. U.S. sentiment has fallen three consecutive months as economic uncertainty continues to impact Americans.
2022
2024
Utah median home sales price remains somewhat steady in recent months.
After a 2023 peak in June, Utah’s median home sales price dropped slightly and has since remained level. High mortgage rates and limited supply limit potential home buyers’ ability to purchase homes.
Unemployment Rate September 2023
3.5% 3.5%
1.9% 1.9%
3.1% 3.1% 2.9% 2.9%
5.4% 5.4%
3.2% 3.2%
4.7% 4.7% 4.0% 4.0%
3.7% 3.7%
3.1% 3.1% 3.0% 3.0%
3.9% 3.9%
4.0% 4.0%
3.6% 3.4% 3.6% 3.4% 4.4% 4.4% 3.8% 3.8% 2.5% 2.5% 4.1% 4.1% 2.9% 2.9% 3.4% 3.4% 3.2% 3.2% 3.0% 2.9% 3.0% 2.9% 2.9% 2.9% 3.4% 2.2% 3.4% 2.2% 3.2% 3.2% 4.1% 4.1% 3.3% 3.3% 2.8% 2.8%
0.8% 0.8%
2.4% 2.4%
3.4% 3.4%
2.8% 2.8%
4.1% 4.1%
2.3% 2.3%
2.7% 2.7%
3.1% 3.1%
1.9% 1.9% 2.1% 2.1%
2.6% 2.6%
USA 3.8% 3.8% USA VT 1.9% 1.9% VT NH 2.0% 2.0% NH 2.6% MA 2.6% MA CT 3.5% 3.5% CT RI 2.6% 2.6% RI NJ 4.4% 4.4% NJ MD 1.6% 1.6% MD DC 5.0% 5.0% DC DE 4.1% 4.1% DE
3.2% 3.2%
3.4% 3.4%
2.1% 2.1%
1.9% 1.9% 2.2% 2.2%
1.6% 1.6%
Source: U.S. Bureau of Labor Statistics
S A LT L A K E C H A M B E R
2.4% 2.4% 1.6% 1.6%
1.8% 1.8%
2.1% 2.1% 2.7% 2.7%
1.2% 1.2%
1.7% 1.7% 1.2% 1.2%
1.6% 1.6% 1.3% 1.3% 2.4% 2.4% 0.9% 0.9% 1.5% 1.5% 2.0% 2.0% 1.6% 2.0% 1.6% 2.0% 1.7% 1.7% 1.2% 1.2% 1.7% 1.7% 2.5% 2.5% 1.5% 1.5% 2.3% 2.3% 1.6% 1.6% 1.3% 1.4% 1.3% 1.4% 2.1% 2.1% 2.2% 1.7% 2.2% 1.7% 0.1% 0.1% 3.1% 3.1% 2.4% 2.4% 3.0% 3.0%
2.8% 2.8%
Unemployment Rate
September inflation persisted at 3.7%, the same rate as reported in August, but lower than the 8.2% rate seen in September 2022. Several factors, including higher prices for labor-intensive services, continue to hold inflation higher than the Fed’s 2% goal.
Year-Over Job Change September 2023
3.6% 3.6% 2.7% 2.7%
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Inflation continues.
USA 2.1% 2.1% USA VT 1.2% 1.2% VT NH 1.5% 1.5% NH MA 2.4% 2.4% MA CT 1.6% 1.6% CT RI -0.3% -0.3% RI NJ 1.9% 1.9% NJ MD 1.5% 1.5% MD DC 1.6% 1.6% DC DE 2.5% 2.5% DE
1.2% 1.2% 5.4% 5.4%
Job Growth
-0.3% -0.3%
3.4% 3.4%
Source: U.S. Bureau of Labor Statistics
ROADMAP TO RECOVERY COALITION