By Henry Pernichele, Regional Economist
Introduction
The modern economy is built on energy. From the electricity that keeps lights on to the gasoline in cars, a plentiful and consistent supply of energy is what enables our modern economy to operate day in and day out. This is especially true in Utah, as its population and economy continues to grow year after year and with it, its energy demands. With the goal to substantially increase Utah’s energy production over the next ten years, this article examines the industries that create Utah’s energy, where they are and why they are so significant to employment, wages, and overall economic growth. More...
SALT LAKE CITY (Dec. 5, 2025) — Utah’s nonfarm payroll employment for September 2025 increased an estimated 1.5% across the past 12 months, with the state’s economy adding a cumulative 26,700 jobs since September 2024. Utah’s current job count stands at 1,783,000.
September’s seasonally adjusted unemployment rate is estimated at 3.4%. Approximately 63,500 Utahns are unemployed. Utah’s August unemployment rate is unrevised at 3.3%. The September national unemployment rate is up a tenth of a percentage point at 4.4%. More...
Michael Jeanfreau, Senior Economist
The constant churn of business formation and closure is a normal feature of a healthy economy. New businesses open, others shut down, and the competitive process reallocates resources to their most productive uses. Startups introduce new products, services, and innovations. If they operate efficiently and meet market demand, they survive and grow. If not, they eventually give way to firms that are better positioned to serve customers and allocate resources. This filtering process is one of the primary ways economic efficiency improves over time.
Business Employment Dynamics (BED) data from the Bureau of Labor Statistics tracks when businesses start, how long they survive, and how they grow. BED data measures business activity at the establishment level, where an establishment refers to a single physical location at which business operations occur. Some establishments are part of multi-location firms, while others are stand-alone operations. In this dataset, a new establishment is any business location that did not exist in the previous quarter, whether it belongs to a newly formed firm or is a new location for an existing company. More...