Showing posts with label Data Releases. Show all posts
Showing posts with label Data Releases. Show all posts

Monday, March 5, 2018

Utah's Seasonally Adjusted Unemployment Rates

Seasonally adjusted unemployment rates for all Utah counties have been posted online here.

Each month, these rates are posted the Monday following the Unemployment Rate Update for Utah.

For more information about seasonally adjusted rates, read a DWS analysis here.

Next update scheduled for March 26th.

Friday, March 2, 2018

Utah's Employment Situation for January 2018

Utah's Employment Situation for January 2018 has been released on the web.

Find the Current Economic Situation in its entirety here.

For charts and tables, including County Employment, go to the Employment and Unemployment page.

Next update scheduled for March 23rd, 2018.


Wednesday, March 29, 2017

Salt Lake Unemployment Rate Lowest Among Large Metropolitian Areas



In January 2017 the Salt Lake City metropolitan area, which includes Salt Lake and Tooele counties, had the lowest unemployment rate among large metropolitan areas in the United States at 3 percent. The Bureau of Labor Statistics performed this comparative analysis with large areas defined as those "with a 2010 Census population of 1 million or more." For more information and a map of the data visit the Bureau of Labor Statistics.

 


Monday, August 3, 2015

Updated Economic Snapshots

New three-page snapshots contain narrative at the bottom for more perspective of the data in a monthly look at employment, unemployment, wages construction, and sales for each county in Utah. (Some data updated less frequently, as available.)

For the latest economic snapshot for your county, check out the updated files on our website for Salt Lake and Tooele counties.

Note: refreshing browser may be necessary for current information. 

Wednesday, April 29, 2015

Wasatch Front South Economic Update

(Salt Lake and Tooele Counties)

Jim Robson, Regional Economist

The Wasatch Front South Service Area labor market ended 2014 with year-over employment growth in December of 2.2 percent. The region’s unemployment rate was a healthy 3.5 percent in the fourth quarter of 2014. Average employment growth in 2014 was 2.4 percent above the level for 2013. There was job growth across all major industrial groups with two exceptions, mining and manufacturing employment. In 2014, the region marked its fourth complete year of economic expansion and labor market improvement since the end of the great recession.

For Salt Lake and Tooele Counties, the continuing healthy job growth and labor market will characterize economic conditions during 2015, with new employment expected to increase about 2.7 percent for the year, an additional 17,700 positions. Total 2015 payroll employment will average about 672,100 jobs in this region. Substantial job increases should come from professional/scientific/technical services, administrative support, trade, financial activities and education.

The improving labor market brought down the unemployment rate to average 3.7 percent in 2014. In the first quarter of 2015 unemployment averaged 3.3 percent and will likely continue to range between 3.0 and 3.4 percent through 2015.

Salt Lake County
* Year-over job increases continue across 15 of 19 industrial sectors with overall nonfarm payroll employment increasing by 2.2 percent from December 2013 to December 2014. The net new jobs from the past year added to the four-plus years of recovery since the employment trough of the recent recession in Salt Lake County.

* Average employment in 2013 was 624320 and 639,395 in 2014, an increase of 15,076 jobs or 2.4 percent. There were 656,221 nonfarm payroll jobs reported by employers in December 2014, which includes the temporary employment surge of the holiday season.

* From December 2013 to December 2014, the most new jobs are being created in professional/scientific/technical services, construction, trade, finance/insurance and food services.

* Within professional/scientific/technical services, 3,265 new job opportunities were concentrated in computer systems design, accounting/bookkeeping, management/technical consulting, architectural and engineering services.

* The 2,279 new construction jobs were spread across commercial, residential, and industrial activities. Residential building permits increased by 16 percent to 6,066, the highest number of permits since 2006.

* Four industries shed jobs from December 2013 to December 2014. Transportation/warehousing declined by 512 positions with most reductions found among truck and air transportation.

* Mining employment was down by about 156 jobs with the effects of declining oil prices being manifest in oil and gas support activities. Manufacturing and information had reductions of 89 and 85 jobs respectively.

* In the fourth quarter of 2014, there was a net increase of 3.5 percent in firms and worksites within Salt Lake County. This increase of 1,381 units brought the total count of firms and worksites to 41,156.

* The seasonally adjusted unemployment rate in Salt Lake County has lessened from 3.9 percent in March 2014 to 3.2 percent in March 2015.  Since March 2014, the number of Salt Lake County residents that are unemployed has declined from about 22,150 to 18,900. Initial claims for unemployment benefits are at their lowest level in five years.

* The stabilization, improvement and expansion in the Salt Lake County labor market since mid-year 2010 have been reflected in the gross taxable sales figures. For 19 consecutive quarters, starting in the second quarter of 2010 and going through the fourth quarter of 2014, Salt Lake County’s year-over change in sales tax collections has been positive. The fourth quarter 2014 year-over taxable sales were up six percent.


Tooele County
* Tooele County’s own job recession continued through the end of 2014 with year-over job losses of 297 for the 12 months ending in December 2014. Payroll employment within the county peaked in mid-2011 and has been down on a year-over comparative basis since then.

* Overall, nonfarm payroll employment totaled 14,870 in December 2014. This is the lowest job count for the month of December since 2005.

* The three largest job reductions from December 2013 to December 2014 occurred in the waste management and remediation services, construction, and the federal government. Many of these losses stem from the direct and indirect effects of the Deseret Chemical Depot closure which was completed by the end of summer of 2014.

* The three industries showing the largest December 2014 year-over employment increases include transportation/warehousing, healthcare/social services, and arts/entertainment/recreation services.

* In 2013, average annual nonfarm payroll Jobs totaled 15,419 in Tooele County. For 2014, there were 14,944 jobs, a reduction of 475 or a decline in payroll positions of 3.1 percent. After accounting for seasonal variations, the level of jobs in the county stabilized in 2014. Therefore, the outlook for 2015 is for the Tooele County job market to return to the plus side of the ledger with some positive overall job additions as year-over employment growth should resume in the spring.

* In the fourth quarter 2014, there was a net increase of 2.4 percent in firms and worksites within Tooele County. This increase of 25 units brought the total count of firms and worksites to 1,056. This increase in payroll firms and worksites is another sign that the economic climate is improving and that new job growth will be returning.

* As part of the greater Salt Lake City Metropolitan Area, Tooele County residents have access to the Salt Lake County job market. Salt Lake’s current relative strength provides support to Tooele County residents.

* The unemployment rate was estimated to be 5 percent in March 2014, improving to a rate of 4 percent in March 2015. There are about 1,170 unemployed Tooele County Residents looking for work in the spring of 2015.

* During the first quarter of 2015, initial unemployment insurance claims averaged the lowest level in Tooele County for any first quarter since 2006. This indicates that the Tooele County labor market has returned to non-recessionary levels of job separations.

* Residential building permits increased by 27.4 percent to 363, the highest number of permits since 2007. The overall value of all permited construction activity increased in 2014 by 16.6 percent over the previous year totaling $142.5 million.

* Gross taxable sales increased by 4.6 percent in the fourth quarter 2014 compared to fourth quarter 2013.


Monday, March 9, 2015

Monthly Consumer Price Index (CPI) updated

The Consumer Price Indexes (CPI) program produces monthly data on changes in the prices paid by urban consumers for a representative basket of goods and services.

There is no CPI data specific to Utah, so national data is relied upon for this page.

For monthly and annual CPI data see here.

Thursday, February 12, 2015

Tooele County Economic Update

Jim Robson, Economist

Solid Growth and Low Unemployment

The Wasatch Front South Service Area labor market cooled from a year-over employment growth of 2.7 percent at the beginning of 2014, slowing in the spring and summer to a growth rate of about 2.1 percent. The region’s unemployment rate was around 3.5 percent by mid-year 2014 and drifted down to 3.3 percent by the end of the year. In 2013, Wasatch Front South unemployment averaged 4.2 percent. Economic expansion has brought down the unemployment rate low enough so that many employers are reporting some difficulty in recruiting the workers they need. This may put some upward pressure on wages in the coming year.

Overall for the Wasatch Front South (Salt Lake and Tooele Counties), continuing healthy job growth and an improved labor market characterizes economic conditions through 2014 and into 2015.  The average 2014 job count in the Wasatch Front South area showed estimated employment growth of around 2.2 percent, adding an additional 13,800 jobs. Substantial job increases were added from professional/scientific/technical services, state higher education, administrative support, accommodations/food services and finance/insurance. Looking forward into 2015, job growth will likely continue between 2.2 to 2.5 percent in the region, with Tooele County once again contributing to positive job growth.

Tooele County

•    Tooele County’s own job recession continued during 2014. The county experienced year-over job losses of 334 for the 12 months ending in September 2014.

•    The three largest job reductions occurred in administrative support/waste management services decreasing by 272 jobs, the federal government shedding 76 jobs and professional/technical declining by 84. Many of these losses stem from the direct and indirect effects of the Deseret Chemical Depot closure which was completed in the summer of 2014.

•    The four industries showing the largest September 2014 year-over employment increases include health care/social service (59), transportation/warehousing (42), local government (38) and information (27).

•    Overall, nonfarm payroll employment totaled 15,094 in September 2014. This is the lowest job count for the month of September since 2006.

•    During the fourth quarter of 2014, initial unemployment insurance claims averaged the lowest level in Tooele County for any fourth quarter since 2006. This indicates that the Tooele County labor market has returned to non-recessionary levels of job separations.

•    For the year ending in September 2014 there was a net increase of 2.9 percent in firms and worksites within Tooele County. This increase of 30 units brought the total count of firms and worksites to 1,048. This increase in payroll firms and worksites is another sign that the economic climate is improving and that new job growth will be returning.

•    In September of 2012, the unemployment rate was around 5.8 percent, improving throughout 2013 to record a rate of 5.2 percent in September 2013. As of September 2014, there are about 1,206 unemployed Tooele County Residents looking for work and a jobless rate of 4.1 percent. By December of 2014 the jobless rate had receded to 3.8 percent.

•    In 2013 average annual nonfarm payroll Jobs totaled 15,419 in Tooele County. For 2014 there were an estimated 14,984, a reduction of 435 or a decline in payroll positions of 2.8 percent. After accounting for seasonal variations, the level of jobs in the county stabilized in   2014. Therefore, the outlook for 2015 is for the Tooele County labor market to return to the plus side of the ledger with some positive overall job additions.

Salt Lake County Economic Update

 Jim Robson, Economist

Solid Growth and Low Unemployment

The Wasatch Front South Service Area labor market cooled from a year-over employment growth of 2.7 percent at the beginning of 2014, slowing in the spring and summer to a growth rate of about 2.1 percent. The region’s unemployment rate was around 3.5 percent by mid-year 2014 and drifted down to 3.3 percent by the end of the year. In 2013, Wasatch Front South unemployment averaged 4.2 percent. Economic expansion has brought down the unemployment rate low enough so that many employers are reporting some difficulty in recruiting the workers they need. This may put some upward pressure on wages in the coming year.

Overall for the Wasatch Front South (Salt Lake and Tooele Counties), continuing healthy job growth and an improved labor market characterizes economic conditions through 2014 and into 2015.  The average 2014 job count in the Wasatch Front South area showed estimated employment growth of around 2.2 percent, adding an additional 13,800 jobs. Substantial job increases were added from professional/scientific/technical services, state higher education, administrative support, accommodations/food services and finance/insurance. Looking forward into 2015, job growth will likely continue between 2.2 to 2.5 percent in the region, with Tooele County once again contributing to positive job growth.

Salt Lake County

•    Year-over job increases continue across most major industry sectors with overall nonfarm payroll employment growth of 2.5 percent from September 2013 to September 2014. Total jobs in September 2014 were 642,872, an increase of 15,805 jobs over 12 months.

•    The most new jobs are being created in professional/scientific/technical services, construction, administrative support services, state government and finance/insurance services.

•    Within professional/scientific/technical services a substantial number of the job opportunities are in computer systems design, accounting/bookkeeping, advertising, management/technical consulting, architectural, and engineering services.

•    Construction employment grew by 5.5 percent for the 12 months ending in September 2014. Residential construction activities added 500 positions and all other construction activities increased employment by 1,219.

•    Within the administrative support services industry, most of the new jobs created were in temporary help services.

•    The state government increase of 1,561 jobs, growing by 3.7 percent from a year earlier, is somewhat surprising at first glance. In fact, most state government agencies show no significant job growth or even have small reductions. The growth in state government was found in two areas — higher education and the University of Utah Hospital system.

•    In Salt Lake County, state colleges, universities and technical schools added 940 jobs and the University Hospital and clinics added 504 jobs. Together, all other state government functions had a net loss of 117 positions in the county.

•    Mining employment was down by about 386 jobs, with much of the decline related to the major landslide in April 2013 at the Bingham Canyon Kennecott Copper Mine and some reduced need for construction-related mining activities.

•    During the fourth quarter of 2014, initial unemployment insurance claims averaged 605, the lowest level in Salt Lake County for any fourth quarter since 2007. This indicates that the Salt Lake County labor market has the lowest levels of job separations in seven years.

•    For the year ending in September 2014, there was a net increase of 3.6 percent in firms and worksites within Salt Lake County. This increase of 1,403 units brought the total count of firms and worksites to 40,361.

•    The seasonally adjusted unemployment rate in Salt Lake County has continued to come down in 2014. By December there were about 19,300 unemployed, with an unemployment rate of about 3.3 percent compared to 3.9 percent in December 2013.

•    Employment gains among the majority of Salt Lake County industry sectors are expected to continue. Overall average job growth in 2014 was estimated to be about 14,100 or in the neighborhood of 2.3 percent. This was a slowing of economic activity from the county’s employment growth of 20,395 in 2013. The 2015 economic outlook continues to be positioned with broad based employment gains continuing at about 2.3 to 2.6 percent.