July 22, 2022
UTAH’S EMPLOYMENT SUMMARY: June 2022
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).
- Additional analysis and tables at https://jobs.utah.gov/wi/
- County unemployment rates for June will post on or shortly after July 26, 2022, at https://jobs.utah.gov/wi/
- July’s employment information will be released at 7 a.m. on Friday, August 19, 2022.
- Statistics generated by the U.S. Bureau of Labor Statistics, Washington, D.C., modeled from monthly employer (employment) and household (unemployment) surveys.