SALT LAKE CITY (Nov. 17, 2023) — Utah’s nonfarm payroll employment for October 2023 increased an estimated 2.2% across the past 12 months, with the state’s economy adding a cumulative 38,200 jobs since October 2022. Utah’s current job count stands at 1,742,400.
October’s seasonally adjusted unemployment rate is estimated at 2.7%, a tenth of a percentage-point increase over September. Approximately 49,300 Utahns are unemployed. Utah’s September unemployment rate is unrevised at 2.6%. The October national unemployment rate increased one-tenth of a percentage-point to 3.9%.
“Over the past few months, job growth rates in Utah have maintained around the 2% range," said Mark Knold, Chief Economist at the Department of Workforce Services. "While slightly below the state's long-term average, it's remarkable that this deceleration in job growth has only recently occurred — especially considering the record low unemployment of the past year.”
Utah’s October private sector employment recorded a year-over-year expansion of 2.1%, or a 29,900-job increase. Seven of the ten major private-sector industry groups posted net year-over-year job gains. The overall job gains are led by leisure and hospitality services (11,500 jobs), education and health services (8,700 jobs), other services (4,200 jobs), and information (3,300 jobs). Natural Resources had no job change over the year. The two sectors with job losses are trade/transportation/utilities (-1,000 jobs); and manufacturing (-1,000 jobs).
Statistics generated by the U.S. Bureau of Labor Statistics, Washington, D.C., modeled from monthly employer (employment) and household (unemployment) surveys.
Largest private sector gains in the past year:Leisure and hospitality services: 11,500 jobs
Education and health services: 8,700 jobs
Other services: 4,200 jobs
Information: 3,300 jobs
Largest private sector losses in the past year:
Trade/transportation/utilities: -1,000 jobs
Manufacturing: -1,000 jobs