Utah’s unemployment rate stays steady; county rate at 1.8%
Utah’s unemployment rate for July 2022 stood at 2% for the fourth straight month according to a report released Friday by the Utah Department of Workforce Services.
In Weber County, unemployment stayed steady at 2.1% in July, the same as June, and down from 2.7% at this time last year. Davis County unemployment has held at 1.8% since May, down from 2.3% in July 2021. New figures for August are expected to be released next week.
Approximately 35,500 Utahns are unemployed, according to the report, keeping Utah’s seasonally-adjusted unemployment rate steady at 2.0%, compared to the national unemployment rate for August, which rose two-tenths of a percent to 3.7%.
“This month’s economic data continues to hold strong in the face of national dialogue about inflation and other economic hurdles,” said Mark Knold, chief economist at the Department of Workforce Services, in a statement. “Both the national and Utah jobs data are robust and show that hiring remains strong. The national unemployment rate moved up a little, but when said rates are as low as they currently are, small upward movements are not viewed as a concern. Utah’s rate remained unchanged at 2.0%. This is the fourth straight month that Utah’s unemployment rate has been at 2.0%.”
Total nonagricultural employment for the Ogden-Clearfield metropolitan statistical area increased from 277,500 in August 2021 to 285,600 last month, a 2.9% increase. The service providing sector saw the biggest total job increase, going from 217,000 jobs in August 2021 to 224,000 jobs in August 2022, a 3.2% increase.
Eight of Utah’s 10 major private-sector industry groups posted net year-over-year job gains over the past year, led by trade, transportation, utilities, education and health services, construction, and leisure and hospitality.
Only two sectors have seen job contractions over the past year, including financial activities with a loss of 2,500 jobs, and professional and business services, with a loss of 600 jobs. However, Utah’s private sector employment still recorded a year-over-year expansion of 3.7%, or a job increase of 50,800.
Utah’s nonfarm payroll employment for August increased an estimated 3.4% across the past year, adding a cumulative 54,400 jobs statewide since August 2021. Utah’s job count currently stands at 1,673,200.
Davis County is tied for the fifth lowest unemployment rate in the state along with Box Elder and Utah counties, behind Cache County at 1.6%, and Morgan, Summit and Juab counties at 1.7%. Weber County also lags Millard and Wasatch counties (1.9%), as well as Iron, Kane and Salt Lake counties (2.0%).
More information can be found at https://jobs.utah.gov/wi/update/index.html.