The following statistics are presented comparing July 2019 to July 2021.
Utah’s nonfarm payroll employment for July 2021 increased an estimated 4.2% across the past 24 months, with the state’s economy adding a cumulative 65,100 jobs since July 2019. Utah’s current employment level stands at 1,606,600.
July’s seasonally-adjusted unemployment rate is estimated at 2.6%, with approximately 43,500 Utahns unemployed. Utah’s June unemployment rate is unchanged at 2.7%. The July national unemployment rate lowered noticeably to 5.4%.
“Labor shortages have been a buzz word recently, but despite that the Utah economy has grown significantly over the past three months,” reported Mark Knold, Chief Economist at the Department of Workforce Services. “By late spring Utah commerce had reverted to its pre-COVID levels. Job openings were abundant. Labor, however, did not return as quickly, and thus the call of labor shortages. But labor has been responding. Otherwise, the Utah economy would not have been able to produce two full percentage points of job growth in just the past three months.”
Utah’s July private sector employment recorded a two-year expansion of 5.2%. Seven of Utah’s 10 major private-sector industry groups posted net two-year job gains, led by Professional and Business Services (20,100 jobs); Trade, Transportation and Utilities (18,900 jobs); Construction (13,300 jobs); and Manufacturing (8,900 jobs). Three industry groups with less employment than two years ago are Leisure and Hospitality Services (-3,700 jobs); Natural Resources and Mining (-1,500 jobs); and Information (-800 jobs).
Largest private sector gains in past two years:
Professional and Business Services: 20,100 jobs
Trade, Transportation and Utilities: 18,900 jobs
Construction: 13,300 jobs
Manufacturing: 8,900 jobs
Largest private sector losses during the past two years:
Statistics generated by the U.S. Bureau of Labor Statistics, Washington, D.C., modeled from monthly employer (employment) and household (unemployment) surveys.