Roadmap to Prosperity Dashboard - July 2021

DASHBOARD

July 2021

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 ranks 2nd for

2

Utah air travel spikes.

two-year job growth.

Utah’s 2-year job growth of 2.5% ranks second highest in the nation.

Utah is one of only two states to see growth by this metric, all other states still suffer job losses.

May 2021 shows a significant spike in air travel with more than 2.0 million passengers.

This mirrors pre-pandemic levels with 2.1 million passengers in February 2020.

Utah Continued Weekly Unemployment Claims March 2020 – June 2021 140,000

Continued Claims

120,000

As of June 24th, 52.2% of Utahns age 12+ were fully vaccinated with more than 60% having received at least one dose. State leaders continue to work toward a goal of vaccinating 70% of adults by July 4th.

Utah Job Change by Industry May 2019 - May 2021 2019 Average

Total

2.6%

Construction

9.5%

Manufacturing

100,000

4.2%

Information

80,000

-3.2%

Financial Activities

60,000

Leisure & Hospitality

40,000

Other Services

20,000

Government

10.6% -5.8% -0.5% -4.5%

Education/Health Services

Mar

Apr

3.8% 10.4%

May

Jun

Jul

Aug

Sep

Oct

8.6%

5.3%

4.5%

4.1%

5.0%

4.1%

Nov Dec Jan Feb Mar Apr May Jun

Natural Resources

4.3%

Professional/Business Services

3.5% 3.3% 3.0% 2.9% 2.8% 2.7% NA

0

3

More than half of eligible Utahns are fully vaccinated.

Unemployment Rate 12% 10%Utah Department of Workforce Services Source: 8% 6% 4% 2% 0.5% S A 0% LT L A K E C H A M B E R -2% 0.1% -4% -6% -8%

Trade/Transportation/Utilities 9.0% 8.0%

3.6% -13.8% 7.6% 4.5%

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

Unemployment Rate May 2021

Job Change Two-Year Percent Change, May 2021

5.3% 3.6% 3.6%

5.9% 5.9% 3.0% 3.0% 7.8% 7.8%

4.0% 4.0%

2.6% 2.6%

2.7% 2.7%

6.2% 6.2%

7.9% 7.9% 6.7% 6.7%

3.9% 3.9%

2.8% 2.8%

5.4% 5.4%

6.9% 5.0% 6.9% 4.0% 5.0% 7.1% 7.1% 4.0% 5.5% 5.5%4.5% 4.5% 4.2% 4.5% 4.2% 4.5% 4.8% 5.0% 4.8% 5.0% 4.4% 4.4% 4.6% 4.6% 4.1% 4.1% 6.1% 6.1% 3.4% 3.4% 7.1% 7.1%

4.0% 4.0% 6.5% 6.5%

6.7% 6.7%

-5.2% -5.2%

7.8% 7.8%

5.0% 5.0%

3.9% 3.9%

3.5% 3.5%

8.0% 8.0%

-3.3% -3.3%

4.7% 4.7%

4.0% 4.0%

4.9% 4.9%

-0.9% -0.9% -6.6% -6.6%

-2.3% -2.3%

VT VT NH NH MA MA CT CT RI RI NJ NJ MD MD DC DC DE DE

2.6% 2.6% 2.5% 2.5% 6.1% 6.1% 7.7% 7.7% 5.8% 5.8% 7.2% 7.2% 6.1% 6.1% 7.2% 7.2% 5.9% 5.9%

2.5% 2.5%

-6.0% -6.0%

-1.0% -1.0%

2.5% 2.5%

2.5% Salt Lake

2.3% Summit 2.4% Wasatch

1.9% Juab

4.6% Duchesne

5.4% Uintah

VT -4.0% VT -4.0% NH -6.5% NH -6.5% MA -4.1% MA -4.1% CT -6.3% CT -6.3% RIRI -7.0% -7.0% NJ -6.4% NJ -6.4% MD -4.4% MD -4.4% DC -4.6% DC -4.6% DE -6.9% DE -6.9%

Job JobGrowth Growth

2.7% Sanpete

3.9% Piute

4.0% Emery

3.6% Grand

Infor

Finan

Leisu

-14.1% -14.1%

3.3% 3.3%

Othe

140,000

Natu 2019 Average

100,000 12% 10% 9.0% 80,000 8% 8.0% 6% 60,000 4% 2% 0.5% 40,000 0% -2% 0.1% 20,000 -4% -6% 0 -8% Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun -10% 3.8% 10.4% 8.6% 5.3% 4.5% 4.1% 5.0% 4.1% 4.3% -12% -14% Unemployment 2011 2012 2013 2014 2015 2016 Rate 2017 2018 2019 2020 2021 US Utah

Educ

Profe

Trade

Value of Construction in Utah March 2020 - April 2021 $1,000

$ Millions

5.7% San Juan

$500

$0

Mar Apr May Jun 2020

5.3%

Unemployment Rate 5.8%

Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr 2021

Residential

Non-residential

Other

4.7%

3.6% 4.0% Source: Ivory-Boyer Construction Database 5.9% 4.0% 3.0%

Source: Utah Department of Workforce Services 7.8%

S A LT L A K E C H A M B E R

Manu

Gove

2.7% Kane

1.9%

Cons

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

4.3% Wayne 5.8% Garfield

Total

Note: Large year-over job change in April 2021 is inflated due to the high job losses in April 2020.

Source: U.S. Bureau of Labor Statistics

3.7% Carbon

3.1% Sevier

2.6% Washington

-9.1% -9.1%

USA USA -3.8% -3.8%

3.5% 3.3% 3.0% 2.9% 2.8% 2.7% NA

1.9% Cache 2.2% Rich 2.7% Weber 2.3% Davis 1.9% Morgan 3.5% Dagget

2.2% Utah

2.5% Iron

-2.8% -2.8%

Job Change Continued Claims 120,000 Year-Over Percent Change, May 2021

2.2% Box Elder

2.7% Beaver

-6.2% -3.8% -5.4% -6.2% -3.8% -4.4% -4.4%-5.4% -3.7% -3.7% -4.2% -4.2% -7.3% -3.8% -7.3% -4.0% -3.0% -3.8% -4.0% -3.0% -2.0% -2.0% -1.7% -1.7% -4.6% -4.6% -0.7% -3.3% -3.3% -0.7% -2.7% -2.7% -3.2% -3.2% -7.5% -7.5% -1.7% -1.7% -8.4% -8.4% -3.6% -3.6%

8.1% 8.1%

Utah Unemployment Rate May 2021

2.3% Millard

-5.5% -5.5%

-7.4% -7.4%

-14.1% -14.1%

Source: U.S. Bureau of Labor Statistics

2.7% Tooele

-5.7% -5.7%

3.3% 3.3%

-3.1% -3.1%

8.1% 8.1%

Unemployment Unemployment Rate Rate

-5.2% -5.2%

-1.2% -1.2%

-6.5% -6.5% USA USA 5.8% 5.8%

-6.9% -6.9%

-7.0% -7.0%

5.4%

2.6%

2.7%

-5.2 3.9%

2.8%

5.0%

3.9% 4.0%

5.0%

7.8% 6.9%

USA 5.8%

R O A6.2% D M A P T O R 7.1% E C O V E R5.5% Y C O A LVTI T2.6% ION

7.9%

3.5%

6.7%

8.0%

4.0%

4.2%

4.4%

4.5% 5.0%

4.5%

4.8%

4.6% 4.1%

NH 2.5% MA 6.1% CT 7.7%

-6.0%

0

1,000,000 $0

M

Utah Utah

Utah Bankruptcy Cases 40,000 40 60 January 20 2019 - May 2021 20,000

2019 2020 2021

20 0 800 400 Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2017 2018 2019 2020 600 200 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2017 2018 2019 2020

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2017 2018 2019 2020 100,000 2019 120,000 0 80,000 J F M A M J J A S O N D J F M2020 A M 2020 2021 100,000 2019 2021 120,000 60,000 2019 Average Bankruptcy Cases Filed 80,000 2020 100,000 40,000 2019

120,000 200

40,000 S60,000 A L T0 L A K E C H A M B E R

A

M J AF MM JA

JM

2.5 2.5

200

1.5

1.5

150

1.0 2.5

A

S

O

N

D

J

2021

1.0 M 0.5

F

M A 1.5

0.5 0

1.0 $3,901

6/7/216/7/21

J

5/24/21 5/24/21

J

5/10/21 5/10/21

M

4/26/21 4/26/21

M A

4/12/21 4/12/21

1000 $4,000 20

J J

A AM MJ M

200

40 50 150 $5,000 0

M

0

6/7/21

5/24/21

JA JS AO S N O D N J D 6Fdays.

J M F Note: 2020 Number 2021 2021 2020 of vaccines includes date listed and the following 40 Utah Department of Health Source:

100 060 100 J F 200 50 2020 50

0.5 M

M A M A

2021

5/10/21

0%60 0

J F J2021 F

4/26/21

1%

D D 4/12/21

20200

J A S O N J U.S. A S Utah O N

0

6/7/21

5/24/21

5/10/21

0.5 6050 $3,000 0 50 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 0Q3 Q4 $2,000 2017 2018 2019 2020 40 $1,000

Note: The Index can range from 0 to 100. A score below 50 indicates executives believe the economy will worsen; a score above 50 indicates a belief among executives that the 20 $0 economy will J improve F M A M J J A S O N D J F M A 120,000 2020 Source: Salt Lake Chamber’s CEOutlook. Kem C. Gardner Policy Institute,2021 and Utah 2019 Average Retail Sales Bureau0of Labor Statistics 100,000

2019Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2020 2017 2018 2019 2020 Visit Salt Lake Facility Attendees 2021 60,000 80,000

2021

2020 2021

40,000 120,000 U.S. Cumulative Case Fatality Rate 20,000 6% 100,000 Utah Cumulative Case Fatality 2019 Rate 0 5% Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. 2020 Nov. Dec. 80,000 4% 2021 60,000 3% 7%

2% 40,000 1%

20,000

0%

J A S O N D J F M A M J M0 A M J 2020 Jan. Feb. Mar. Apr. May Jun. Jul. Aug. 2021Sep. Oct. Nov. Dec.

Note: Data only includes conferences/conventions with 1500 attendees or more.

Source: Visit Salt Lake

ROADMAP TO RECOVERY COALITION

Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec.

2.5

eek

200 1.5

Cum

U.S. Utah Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec.

$0

5% 4% 3%

2% 7% 1% 6% 0% 5% M 4%

2

3% 2% 1%

January 2019 - May 2021

50

Source: United States Bankruptcy Court

M J M J

4/26/21

6/7/21

5/24/21

5/10/21

4/26/21

4/12/21

3/29/21

3/15/21

3/1/21

2/1/21

2/15/21

1/4/21

1/18/21

12/21/20

Confidence Index Confidence IndexIndex Confidence

60

40 60,000 50

2021

Airport Passengers

M50 A 2020 A M

3/29/21 3/29/21

Vaccines Doses by Week Confidence Index (Thousands)

Cumulative Vaccines (Millions)

J J FF M M M A A M JA AS S O O N N D D 2021

2019 Average Source: Scorecard 50State of Utah Unified Response 80,000

M

U.S. Cumulative Case Fatality1.0 Rate Utah Cumulative Case Fatality Rate

100

3/29/21

2.5

JM JJ

F

CEO Index, Q1 2017 – Q4 2020 20 Confidence 150

200 6060 100 1.5 60 50 U.S. Utah 150 4040 80 1.0 40 100 2,008,498 2,000,000 2020 60 0.5 20 50 1,500,000 400 00 J Q1 F Q2 M Q3 A Q4 M Q1 J Q2 J Q3 A Q4 S Q1 O Q2 N Q3 D Q4 J Q1 F Q2 M 0 Q3 A Q4 M 1,000,000 2017 2018 2019 2021 2020 0 2020 J A S O N D J F M A M 20 J F M A M J 2020 2021 500,000

0 0 120,000 J F J MF AM M A 602020 2020 100,000

J

2021

Cumulative Vaccines Cumulative Vaccines Cumulative Vaccines (Millions) (Millions) (Millions)

U.S.

Consumer ConfidenceU.S. 80 80 January 2020 - May 2021

D

1.5

3/29/21

J

N

150

3/1/21

M

200

3/15/21 3/15/21

A

O

7% 6%

Retail Sales U.S. Cumulative Case Fatality Rate U.S. Cumulative OUtah NCumulative D J Case F Fatality M A Rate M Case Fatality Rate 2021Case Fatality Utah Cumulative 2.5 Rate Bankruptcy Cases Filed

3/15/21

80

0J F M A M J J J AA S S OO NN DD J J F F MM AA MM J Department F M Aof Health M J and Source: 2020 Utah John Hopkins University (JHU) Coronavirus 2021 2021 100 2020 Resource Center 2019 Average Bankruptcy Cases Filed

100

3%

2%20

M

S

U.S. Utah 2019 Average

3/1/213/1/21

2021

F

A

3/15/21

J

J

3/1/21

D

2020

2/15/21 2/15/21

N

J

2/15/21

O

5% 5% 4% 80 4% 3% 3% 7% 2% 60 2% 6% 1% 1% 5% 0% 100 40 0% 4%

2/1/212/1/21

S

M

2/1/21

A

A

1/18/21 1/18/21

J

M

1/18/21

J

2021 Bankruptcy Cases Filed Bankruptcy Cases Filed

F

1/4/211/4/21

M

$3,901 $3,901 M A M

F

2021

$2,000

$1,000

Airport Passengers

7% Utah Vaccine Doses2019

by Week 7% Average 0 6% M 2020 A M- June J J14,A2021 S 6% December 100 J F 14, 2020

12/21/20 12/21/20

2019 Average 2019 Average

A S O N D J F M A M A S O N D J2021F M A M

J

1/4/21

J J

$0 200

12/21/20

A

M A M J M A M J

J

A

Note: As marketplace with Cases Filed Mof October A M2019, J 2019 J Average A facilitators S O Bankruptcy N aDUtahJnexus F were Mrequired A to M payJ $1,000 2020 2021 sales increasing taxable retail sales.

400 tax, Source: Utah State Tax Commission

(Thousands) (Thousands) (Thousands)

2%040 J2020 F J F 400 2020 1%

20,000 40,000 100 20,0000

O N D

M

J

2/1/21

3%

60,000 80,000 20,000

S

F

M AA M M JJ JJ AA SS OO NN DD JJ FF M M AA JJ2020FF M 2021 2020 2021 F M A M 2019 J Average JAverage A S O Retail N Sales DSalesJ F M A M 2019 Retail 600 2020 2021 $2,000 0% 1%

2/15/21

20060

600 0

J

2021

$3,901

1/18/21

U.S. Cumulative Case Fatality Rate Utah Cumulative Case Fatality Rate

Utah

D

Retail Sales

2019 Average

1/4/21

Airport Passengers

200 800 4%

0

A

N

Cumulative Vaccines (Millions)

U.S.

2021

$3,000

U.S. Cumulative Case Fatality Rate Utah Cumulative Case Fatality Rate

12/21/20

AirportPassengers Passengers Airport

Vaccines Doses by Week (Thousands)

2021

2019Average Average 2019

6% 400 40080 5%

3 Q4

J

O

$4,000 200 3% $0 $0 800 2% $3,000 0

Vaccines Doses

by Week Vaccines Doses

by Week Confidence Index Confidence Index Vaccines Doses

by Week

2020

600 100 7% 600

400

M A M J

$4,000 $0

M A M

$1,000 $1,000 4%

M AA M M JJ JJ AA SS OO NN DD JJ FF M M AA M M JJ2020FF M 2021

Cumulative Case Fatality Rate 2019 Average 800 800 March, 2020 - June 2021

M

F

2020

F

J

2021

Airport Passengers

5% 400 $5,000

2,008,498

2020

2020

O N D

600

J F F MM AA MM J J J J A A S S O O N N D D J J F F M MA AM 500,000J2020 2020 2021 2021 2019 Average Retail Sales Source: Salt Lake City International Airport 2019 Average Bankruptcy Cases Filed 0 J F M A M J J A S O N D J F M A M

0

S

$2,000

$0 0

M

A

6% $2,000

1,000,000

M

J

800

$3,000 600 500,000 500,000 2,000,000 $2,000 400 0 1,500,0000 $1,000 200

0%

J

2019 Average

$3,000 $3,000 7%

$3,901

$4,000 800 1,000,000 1,000,000

200 20

0

$4,000 $4,000

$5,000 1,500,000 1,500,000

M A M J

Utah Taxable J F Retail M A Sales M J (millions) J A S 2020 500,000 2019 - April 2021 January 2019 Average

$5,000 $5,000

2,008,498 2,008,498

2,000,000 2,000,000

M

A

F

2020

4/12/21

SLC International J F MAirport A M JPassengers J A S O N D J F M 2020 2021 January 2019 - May 20212019 Average Airport Passengers

98

J

$1,000

0%

M

22

Vaccines Doses by Week Vaccines Doses by Week (Thousands) (Thousands)

500,000

2,000,000 $2,000 0 1,500,000

1,000,000

1

1

2

1

1

Special thanks to the Roadmap to Prosperity Coalition Investors

“Utah is one of only two states showing two-year job growth. In addition to the progress we’ve made combating COVID-19, Utah’s economy continues to thrive.”

Roadmap to Prosperity Investor

Protect the Hive Investor

Scott Parson, Co-Chair

“As the vaccination rate rises, Utahns are able to enjoy many activities that they’ve missed for the past year. With continued vigilance we will reach health and economic prosperity for all.”

Innovate Investors

Convener Investor

Mikelle Moore, Co-Chair

Collaborator Investor

Rio Tinto Kennecott

Prepared by the Kem C. Gardner Policy Institute