The Department of Workforce Services (DWS) recently released Utah’s employment summary for March of 2023. It showed that the nonfarm payroll employment for the month increased an estimated 2.7% across the past 12 months.
The state’s economy added a cumulative 44,100 jobs since March of last year and the current job count stands at 1,705,400. The seasonally-adjusted unemployment rate for the month was estimated at 2.4%.
The DWS stated that approximately 41,700 Utahns are unemployed and Utah’s February unemployment rate is unrevised at 2.4%. Meanwhile, the March national unemployment rate moved down one notch to 3.5%. DWS Chief Economist Mark Knold stated that the labor market in Utah continues to show strength through the first three months of 2023.
The March private sector employment for Utah recorded a year-over-year expansion of 2.7%, or a 37,400 job increase. Nine of the ten major private-sector industry groups posted net job gains, which were led by education and health, leisure and hospitality, government and construction.
The employment information for the month of April will be released on Friday, May 19.