SALT LAKE CITY (June 16, 2023) — Utah’s nonfarm payroll employment for May 2023 increased an estimated 2.9% across the past 12 months, with the state’s economy adding a cumulative 48,900 jobs since May 2022. Utah’s current job count stands at 1,727,100.

May’s seasonally adjusted unemployment rate is estimated at 2.3%. Approximately 42,000 Utahns are unemployed. Utah’s April unemployment rate is unrevised at 2.3%. The May national unemployment rate moved up three-tenths of a percentage point to 3.7%.

“Springtime is here and the Utah economy is ready for its yearly injection of new labor into the economy,” said Department of Workforce Services’ Chief Economist Mark Knold. “Spring graduation is the most prolific time of the year for new labor to enter the Utah economy. Whether from high school graduation or college, young working-age people approach the labor market — some for the first time, some for a more expanded and full-time role. This is the life-blood for the Utah economy. Its expansion and vibrancy are driven by the large amount of young labor that ages in each year.”

Utah’s May private sector employment recorded a year-over-year expansion of 2.9%, or a 41,500 job increase. Eight of ten major private-sector industry groups posted net year-over-year job gains, led by leisure and hospitality services (16,100 jobs), education and health services (8,500 jobs), professional/business services (6,600 jobs), and construction (4,700 jobs). The two sectors with an over-the-year employment contraction are financial activities (-1,400 jobs) and trade/transportation/utilities (-1,000 jobs).

• Additional analysis and tables at https://jobs.utah.gov/wi/update/index.html

• County unemployment rates for May will post on or shortly after June 20, 2023, at https://jobs.utah.gov/wi/update/une/season.pdf

• June’s employment information will be released at 7 a.m. on Friday, July 21, 2023.