Utah’s employment for January 2018 grew by an estimated 2.9 percent, adding 41,300 jobs to the economy since January 2017. Utah’s current employment level registers 1,473,300. December’s year-over job growth was revised from 2.7 percent to 3.1 percent.
January’s seasonally adjusted unemployment rate dropped one-tenth of a percentage point from the prior month to 3.1 percent. Approximately 49,200 Utahns were unemployed during the month and actively seeking work. The national unemployment rate remained unchanged from December at 4.1 percent.
“The first look at 2018 shows the state continuing on a healthy path of labor market expansion,” reported Carrie Mayne, Chief Economist at the Department of Workforce Services. “Job growth remains near the long-run average and unemployment figures indicate the state continues to operate at full employment.”
Utah’s private sector employment grew by 3.2 percent year-over with the addition of 37,800 positions. All 10 private sector industry groups measured in the establishment survey posted net job increases in January.
The largest private sector employment increases were in:
- Leisure and Hospitality (8,700 jobs)
- Construction (7,500 jobs)
- Trade, Transportation, and Utilities (7,000 jobs)
The fastest employment growth occurred in:
- Construction (8.5 percent)
- Leisure and Hospitality (6.3 percent)
- Financial Activities (2.8 percent)
Chief Economist Carrie Mayne breaks down January’s employment report in this quick video:
For more information visit our Labor Market Employment Update web pages.