DASHBOARD
The Road to Prosperity Dashboard tracks Utah’s economic outlook.
The Dashboard, which is updated monthly, provides essential insights, tracks timely and leading measures, and shares salient indicators.
Inflation experienced the smallest year-over increase since February 2021.
August year-over inflation fell to 2.5%, putting it closer to the 2.0% target rate. Housing remains the main driver of price increases, while price increases in goods like groceries have largely moderated.
Unemployment Rate July 2024
2
Utah taxable retail sales slowed in June.
Year-to-date taxable retail sales are up nearly 2% in Utah, but June 2024 sales fell more than 3% relative to June 2023 sales. Data for coming months will indicate if retail spending continues easing or if shoppers return to buying at a growing pace.
U.S. and Utah consumer sentiment increased in August.
While sentiment in both regions rose, Utah’s consumer sentiment increased by a higher amount, widening the gap between the two measures. The gap between sentiment in Utah and the U.S. now stands at its largest since early 2022. 3
Year-Over Job Change July 2024
Source: U.S. Bureau of Labor Statistics
Source: U.S. Bureau of Labor Statistics
Utah Year-Over Job Change by Industry
July 2024
Year-Over Job Change
November 2010 – July 2024
Note: From March to December 2021, a 2-year change is used due to the drastic changes in employment beginning March 2020.
Source: U.S. Bureau of Labor Statistics
Utah Unemployment Rate
July 2024
Note: Large year-over job change in April 2021 is inflated due to the high job losses in April 2020.
Source: U.S. Bureau of Labor Statistics
Source: Ivory-Boyer Construction Database Value of Construction in Utah March 2020 – July 2024
SLC International
Source: Kem C. Gardner Policy Institute
Source: U.S. Bureau of Labor Statistics
Source: United States Bankruptcy Court