A potential revolutionary economic transformation is under way in America that could help Utah move more rapidly toward closing the employment gap, says Mark Knold, chief economist with the Department of Workforce Services.
That transformation is the shale gas boom that has emerged across the country during the past five years. Shale formations are giving America cheaper, abundant and comparatively clean energy. What this means is that America’s industrial base could surge, particularly in industries that were fading — namely, manufacturing.
This is good news for Utah, as 2012 had more new jobs than there were new workers for the first time since 2007. Thankfully, 2013 looks every bit as promising.