SALT LAKE CITY (July 22, 2022) — Utah’s nonfarm payroll employment for June 2022 increased an estimated 3.5% across the past 12 months, with the state’s economy adding a cumulative 56,300 jobs since June 2021. Utah’s current job count stands at 1,666,300.
June’s seasonally-adjusted unemployment rate is estimated at 2.0%, unchanged from May, with approximately 34,900 Utahns unemployed. The June national unemployment rate held steady at 3.6%.
“Inflation is the most pressing economic issue before the economy,” said Mark Knold, Chief Economist at the Department of Workforce Services. “At such high levels, there is always concern that high inflation will find a way to weaken the economy. So far though there is no evidence that such is happening in Utah. Job growth remains strong and the unemployment rate is very low and little moved across the past six months. New unemployment insurance claims remain tame. That measurement is oftentimes the first indicator that something is weakening in the economy. But again, largely no movement at all is happening there.”
Utah’s June private sector employment recorded a year-over-year expansion of 3.9%, or a 52,800 job increase. All ten of Utah’s major private-sector industry groups posted net year-over-year job gains, led by Trade, Transportation, Utilities (12,800 jobs); Construction (10,300 jobs); Leisure and Hospitality (8,900 jobs); and Education and Health Services (7,100 jobs).
Largest private sector gains in the past year:
Trade, Transportation, Utilities: 12,800 jobs
Construction: 10,300 jobs
Leisure & Hospitality: 8,900 jobs
Education and Health Services: 7,100 jobs
Statistics generated by the U.S. Bureau of Labor Statistics, Washington, D.C., modeled from monthly employer (employment) and household (unemployment) surveys.