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...
By Gwen Kervin, Senior Economist
The Governor’s Office of Economic Opportunity (GOEO) has identified five strategic industries to help strengthen and diversify Utah’s economy:
Advanced manufacturing
Aerospace and defense
Financial services
Life sciences and healthcare
Software and information technology
Each of these industries directly support skilled, high-paying jobs in the state. In 2024, the targeted industries employed nearly 494,900 people and paid $41.4 billion in wages. This amounts to an average annual wage of $83,713 compared to average wages of $58,059 for other industries. Aside from their direct impact, these targeted industries have ripple effects across the economy, supporting local employers in other industries and encouraging the growth of new businesses. As businesses grow, they require various inputs from suppliers, spurring further economic expansion and creating a virtuous cycle of growth. More...