DASHBOARD
May 2021
The Roadmap to Recovery 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
2
Utah’s unemployment rate drops below 3.0%.
Utah sees year-over job growth.
For the first time since the pandemic began, Utah’s unemployment rate dropped below 3.0%. Utah’s March unemployment rate of 2.9% is the lowest in the nation, tied with several other states. This marks the seventh consecutive month of decline.
Utah sees slight job growth of 0.9%. Moving forward, year-over job growth will be compared to early-pandemic months with large job losses. Job growth will likely be high as it is compared to these months with large losses
Utah Continued Weekly Unemployment Claims March 2020 – March 2021 140,000
Continued Claims
120,000
2019 Average
3.0% -1.3%
Information
4.3%
Financial Activities Leisure & Hospitality
40,000
-6.1%
Other Services
20,000
0.7%
Government Apr
May
Jun
Jul
Aug
Sep
Oct
8.6%
5.3%
4.5%
4.1%
5.0%
4.1%
Nov Dec Jan Feb Mar 4.3%
3.5% 3.3% 3.0% 2.9%
Mar
3.8% 10.4%
Unemployment Rate
4%
Source: Utah Department of Workforce Services
2% 0.5% 0% 0.1% -2%
S A -4% LT L A K E C H A M B E R -8%
5.0%
Manufacturing
60,000
-10%
0.9%
Total Construction
80,000
-6%
Utah’s March consumer confidence of 96.4 is the highest since the measure’s inception in October 2020. Utah’s consumer confidence exceeds the nation’s (84.9) by more than ten points.
Utah Job Change by Industry March 2020 - March 2021
100,000
0
3
Consumer confidence continues to rise.
0.9%
-4.4%
-3.6%
Education/Health Services Natural Resources
-1.1% -9.8%
Professional/Business Services
4.5%
Trade/Transportation/Utilities
4.2%
Source: U.S. Bureau of Labor Statistics
ROADMAP TO RECOVERY COALITION