2.5%
Total
1.6%
Construction Manufacturing -0.2% Information
1.8%
Financial Activities
1.3% 8.3%
Other Services 3.3%
Government
4.3%
Education/Health Services
9.7%
Leisure/Hospitality Services 5.0%
Natural Resources
DASHBOARD
0.2% September 2023
Professional/Business Services Trade/Transportation/Utilities -0.3%
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%
2.5%
The Road to Prosperity Dashboard tracks Utah’s economic outlook. 2.0% 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
Inflation increases second month in a row, yet remains low compared to recent highs.
2022
Inflation reached 3.7% in August, up from July’s 3.2% but far below the 2022 peak of 9.1%. A surge in energy prices largely contributed to August’s increase.
Utah’s median home sales price experiences a slight drop in July.
3.0% 3.0% 5.4% 5.4%
1.9% 1.9%
2.9% 2.9%
2.5% 2.5%
4.6% 4.6% 3.8% 3.8%
3.1% 3.1% 3.7% 3.7%
A higher share of Utah workers participate in the labor force than the nation -- Utah’s labor force participation rate continues to rank higher than any other state.
Year-Over Job Change August 2023
3.6% 3.6% 3.4% 3.4%
Utah’s labor force participation rate remains high.
After an early summer rebound, Utah’s median home sales price fell slightly to $487,000. Mortgage rates continue to climb, constraining home buyers’ purchasing power.
Unemployment Rate August 2023 2.5% 2.5%
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2024
1.9% 1.9% 2.9% 2.0% 2.9% 2.0%
2.9% 2.9%
2.2% 2.2% 3.7% 3.7%
3.9% 3.9%
4.1% 3.4% 4.1% 3.4%
2.7% 2.7%
1.6% 1.6% 2.9% 2.9% 2.9% 2.9%
3.5% 3.5%
3.4% 3.4% 3.6% 3.6% 2.5% 2.5% 2.7% 2.8% 2.7% 2.8% 4.0% 4.0% 3.3% 3.3% 3.1% 3.1% 2.8% 2.7% 2.8% 2.7% 3.0% 3.0% 3.3% 2.1% 3.3% 2.1% 3.2% 3.2% 4.1% 4.1% 3.3% 3.3%
3.9% 3.9%
2.3% 2.3%
2.5% 2.5%
3.1% 3.1%
4.3% 4.3%
USA 3.8% 3.8% USA VT 1.8% 1.8% VT NH 1.8% 1.8% NH 2.6% MA 2.6% MA CT 3.6% 3.6% CT RI 2.7% 2.7% RI NJ 4.2% 4.2% NJ MD 1.7% 1.7% MD DC 5.0% 5.0% DC DE 4.1% 4.1% DE
2.5% 2.5%
2.0% 2.0% 1.8% 1.8%
1.7% 1.7%
Source: U.S. Bureau of Labor Statistics
S A LT L A K E C H A M B E R
1.9% 1.9%
1.5% 1.5%
1.6% 1.6% 1.3% 1.3%
1.5% 1.5%
1.4% 1.4%
2.8% 2.8% 1.8% 1.8% 1.3%1.6% 1.3% 1.6% 1.8% 1.8% 1.2% 1.9% 1.2% 1.4% 1.4% 1.9% 2.7% 2.7% 2.4% 2.4% 1.7% 1.7% 1.7% 2.2% 1.7% 2.2% 2.2% 2.2% 1.8% 2.1% 1.8% 2.1% 0.0% 0.0% 2.8% 2.8% 1.8% 1.8% 1.3% 1.3%
1.5% 1.5% 2.0% 2.0%
1.1% 1.1%
1.2% 1.2%
3.1% 3.1%
2.8% 2.8%
Unemployment Rate
1.8% 1.8%
USA 2.0% 2.0% USA VT 1.2% 1.2% VT NH 2.0% 2.0% NH MA 2.7% 2.7% MA CT 1.6% 1.6% CT RI -0.5% -0.5% RI NJ 2.2% 2.2% NJ MD 1.2% 1.2% MD DC 1.5% 1.5% DC DE 2.1% 2.1% DE
1.4% 1.4% 5.4% 5.4%
Job Growth
-0.5% -0.5%
4.3% 4.3%
Source: U.S. Bureau of Labor Statistics
ROADMAP TO RECOVERY COALITION