Construction Construction
6.0% 6.0%
Manufacturing Manufacturing
3.6% 3.6%
Information Information
12.9% 12.9%
FinancialActivities Activities Financial
2.1% 2.1%
Leisure&&Hospitality Hospitality Leisure
9.6% 9.6%
OtherServices Services Other
7.8% 7.8%
Government Government
1.7% 1.7%
Education/HealthServices Services Education/Health
3.1% 3.1%
NaturalResources Resources Natural
14.3% 14.3%
Professional/BusinessServices Services -0.7% Professional/Business -0.7% Trade/Transportation/Utilities Trade/Transportation/Utilities
5.4% 5.4%
DASHBOARD 12% 12% 10% 10% 8% 8% 6% 6% 4% 4% 2% 2% 0% 0% -2% -2% -4% -4% -6% -6% -8% -8% -10% -10% -12% -12% -14% -14%
April 2022
4.6% 4.6%
4.0% 4.0%
The Road to Prosperity Dashboard tracks Utah’s economic outlook. The Dashboard, which is updated monthly, provides essential insights, 2011timely 2012 2013 2013 2014 2014 2015 leading 2016 2017 2017 2018 2018 2019 2019 2020 2020 2021 2021 2022 2022 and shares salient indicators. 2011 2012 2015 2016 tracks and measures, US Utah US Utah THREE ESSENTIAL INSIGHTS:
1
Utah’s unemployment rate is lowest in the nation. Utah’s March unemployment rate of 2.0% is the lowest in the nation, tied with Nebraska.
2
Utah’s home prices have risen drastically over the last year with a median home sale price of $501,000 in February 2022.
Unemployment Rate March 2022
3.8% 3.8% 2.7% 2.7% 5.0% 5.0%
2.0% 2.0%
4.9% 4.9% 3.3% 3.3%
3.4% 3.4% 3.7% 3.7%
5.3% 5.3%
Consumer confidence drops significantly. Utah’s consumer confidence dropped to the lowest level since its creation in October 2020. U.S. confidence also hit a low point, even lower than during pandemic onset.
Year-Over Job Change March 2022
4.2% 4.2% 2.3% 2.3%
3
Utah home prices continue to rise.
2.9% 2.9% 2.5% 2.5%
3.5% 3.5%
2.5% 2.5% 2.8% 4.4% 2.8% 4.4%
3.2% 3.2%
3.3% 3.3%
4.6% 4.6%
3.0% 3.0%
VT VT NH NH MA MA CT CT RI RI NJ NJ MD MD DC DC DE DE
2.7% 2.7% 2.5% 2.5% 4.3% 4.3% 4.6% 4.6% 3.4% 3.4% 4.2% 4.2% 4.6% 4.6% 6.0% 6.0% 4.5% 4.5%
4.0% 4.0%
6.5% 6.5%
3.7% 3.7%
Source: U.S. Bureau of Labor Statistics
S A LT L A K E C H A M B E R
5.3% 5.3%
1.6% 1.6% 2.2% 2.2%
6.1% 6.1%
5.9% 5.9%
2.1% 2.1%
2.5% 2.5% 2.1% 2.1% 4.3% 4.3%
5.3% 5.3%
3.4% 3.4% 2.2% 2.2% 4.2% 4.2% 2.2% 2.2% 3.9% 3.9% 2.9% 2.9% 2.9% 2.9% 2.5% 2.5% 4.2% 4.2% 4.1% 4.1% 2.6% 2.6% 3.0% 3.0% 2.0% 2.0% 5.3% 5.3% 2.5% 2.5%
2.1% 2.1%
2.5% 2.5% 5.7% 5.7%
USA 4.6% 4.6% USA VT VT NH NH MA MA CT CT RI RI NJ NJ MD MD DC DC DE DE
3.0% 3.0% 3.6% 3.6% 5.4% 5.4% 3.3% 3.3% 3.4% 3.4% 5.5% 5.5% 3.4% 3.4% 4.5% 4.5% 2.1% 2.1%
6.2% 6.2%
4.1% 4.1% 2.0% UnemploymentRate Rate 2.0% Unemployment
2.3% 2.3% 2.5% 2.5%
9.7% 9.7%
USA 3.6% 3.6% USA
2.7% 2.7%
3.2% 3.2%
4.5% 4.5%
4.9% 3.3% 3.3% 4.1% 4.9% 4.1% 2.0% 2.0% 2.2% 2.2% 3.7% 3.7% 4.7% 4.7% 3.0% 3.0% 4.0% 2.5% 4.0% 2.5% 3.6% 3.6% 3.5% 3.2% 3.5% 3.2% 2.7% 3.1% 2.7% 3.4% 3.4% 3.1% 4.2% 4.2% 3.1% 3.1% 2.9% 2.9% 4.4% 4.4% 4.2% 4.2%
5.0% 5.0%
5.3% 5.3%
3.6% 3.6%
6.0% 6.0%
JobGrowth Growth Job
1.6% 1.6%
9.7% 9.7%
Source: U.S. Bureau of Labor Statistics
ROADMAP TO RECOVERY COALITION