Press Release
January 19, 2024

UTAH’S EMPLOYMENT SUMMARY: December 2023

SALT LAKE CITY (Jan. 19, 2024) — Utah’s nonfarm payroll employment for December 2023 increased an estimated 1.7% across the past 12 months, with the state’s economy adding a cumulative 28,900 jobs since December 2022. Utah’s current job count stands at 1,734,700.

December’s seasonally adjusted unemployment rate is estimated at 2.8%. Approximately 50,900 Utahns are unemployed. Utah’s November unemployment rate is unrevised at 2.8%. The December national unemployment rate is unchanged at 3.7%.

“Utah ends the year with continued job growth, but at a slowing pace from the high-tempo growth seen in the wake of the COVID-19 pandemic,” said Mark Knold, Chief Economist at the Department of Workforce Services. “Utah’s extremely low unemployment rates may finally be weighing upon the economy. When labor is in short supply, an economy may not be able to expand at a pace equal to its full potential. We believe Utah’s slowing job growth is based upon a labor restriction, and not upon any business weakening or economic malfunctions.”

Utah’s December private sector employment recorded a year-over-year expansion of 1.5%, or a 21,000- job increase. Eight of the ten major private-sector industry groups posted net year-over-year job gains. The overall job gains are led by education and health services (9,800 jobs); leisure and hospitality services (7,400 jobs); construction (3,400 jobs); and information (2,900 jobs). The two sectors with job losses are trade/transportation/utilities (-5,500 jobs); and professional and business services (-1,200 jobs).

  • Additional analysis and tables at https://jobs.utah.gov/wi/update/index.html
  • County unemployment rates for December will post on or shortly after January 22, 2024, at https://jobs.utah.gov/wi/update/une/season.pdf
  • January’s employment information will be released at 7 a.m. on Wednesday, March 6, 2024.
  • Statistics generated by the U.S. Bureau of Labor Statistics, Washington, D.C., modeled from monthly employer (employment) and household (unemployment) surveys. 

Listen to Chief Economist Mark Knold’s analysis of the December 2023 employment report here: https://soundcloud.com/utahdws/utah-employment-report-december-2023

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