Michael Jeanfreau, Senior Economist

Here in the desert, Utah continues to grow in population, overall income, employment, and GDP. The pioneer spirit in the state’s culture aligns with entrepreneurship. State-led efforts, along with Utah’s favorable demographics and business climate, help new companies find the skilled workforce and support they need.

Utah’s startup scene thrives thanks to a fast-growing population and a robust economy. As one of the country’s fastest-expanding states, Utah blends a youthful workforce with a strong education base, which creates a prime setting for business growth. In 2025, WalletHub ranked Utah the 3rd best state to start a business, highlighting strong access to both talent and capital. Meanwhile, Utah’s business tax rate as a percent of GDP was among the lowest in the nation, an advantage noted by the Kem C. Gardner Policy Institute. The result is an ecosystem where startups sprout alongside established firms in technology, life sciences, outdoor products, finance, and other sectors. Utah’s growth-focused culture and wide network of startup supporters, from university innovation labs to business associations, draw inventors and entrepreneurs from all over, reinforcing a cycle of knowledge-sharing that strengthens the broader economy. More...

SALT LAKE CITY (May 16, 2025) — Utah’s nonfarm payroll employment for April 2025 increased an estimated 2.1% across the past 12 months, with the state’s economy adding a cumulative 36,000 jobs since April 2024. Utah’s current job count stands at 1,778,100. 

April’s seasonally adjusted unemployment rate is estimated at 3.1%. Approximately 57,520 Utahns are unemployed. Utah’s March unemployment rate is unrevised at 3.1%. The April national unemployment rate is unchanged at 4.2%. More...

SALT LAKE CITY (April 18, 2025) — Utah’s nonfarm payroll employment for March 2025 increased an estimated 1.7% across the past 12 months, with the state’s economy adding a cumulative 29,500 jobs since March 2024. Utah’s current job count stands at 1,765,100. 

March’s seasonally adjusted unemployment rate is estimated at 3.1%. Approximately 57,570 Utahns are unemployed. Utah’s February unemployment rate is unrevised at 3.2%. The March national unemployment rate was up one-tenth of a percentage point at 4.2%. More...