DWS Press Release
SALT LAKE CITY (August 16, 2024) — Utah’s nonfarm payroll employment for July 2024 increased an estimated 2.8% across the past 12 months, with the state’s economy adding a cumulative 48,500 jobs since July 2023. Utah’s current job count stands at 1,754,600.
July’s seasonally adjusted unemployment rate is estimated at 3.2%. Approximately 57,000 Utahns are unemployed. Utah’s June unemployment rate is unrevised at 3.0%. The July national unemployment rate increased two-tenths of a percentage point to 4.3%.
“July’s employment numbers show a return to higher rates of year-over-year job growth in the state,” said Ben Crabb, Chief Economist with the Utah Department of Workforce Services. “After nearly a year of growth in the 2% range, the 2.8% in July is a marked increase in the rate of job expansion, helped along by improved private sector hiring. The healthy jobs numbers are tempered by an increase in the unemployment rate, but this month’s 3.2% unemployment rate is still low by historical standards.”
Utah’s July private sector employment recorded a year-over-year expansion of 2.6%, or a 37,700-job increase. Seven of the ten major private-sector industry groups posted net year-over-year job gains. The overall gains are led by education and health services (13,200 jobs), construction (8,800 jobs), and professional and business services (5,900 jobs). Other services (-500 jobs), was the only sector with year-over-year job losses.
-
Additional analysis and tables at https://jobs.utah.gov/wi/update/index.html
-
County unemployment rates for June will post on or shortly after August 19, 2024, at https://jobs.utah.gov/wi/update/une/season.pdf
-
August’s employment information will be released at 7 a.m. on Friday, September 20, 2024.
Largest private sector gains in the past year:
-
Education and health services: 13,200 jobs
-
Construction: 8,800 jobs
-
Professional and business services: 5,900 jobs
Largest private sector losses in the past year:
- Other services: -500 jobs