DASHBOARD
January 2022
The Roadmap to Prosperity Dashboard tracks Utah’s path to a full and complete economic recovery from the COVID-19 recession. The Dashboard, which is updated monthly, provides essential insights, tracks timely and leading measures, and shares salient indicators since the start of the pandemic. THREE ESSENTIAL INSIGHTS:
1
Utah’s two-year job growth is highest in the nation.
Utah’s November two-year job growth of 3.6% is the highest in the nation and one of only four states showing positive job change.
2
U tah’s unemployment rate drops to all-time low. Utah’s November unemployment rate of 2.1% is the lowest ever recorded and ranks second in the nation.
Utah Continued Weekly Unemployment Claims March 2020 – October 2021 2020
3
Consumer Confidence Falls in Utah. For the first time since data collection began, Utah’s consumer confidence fell while the nation’s rose. Consumer confidence has been in decline since September 2020.
Utah Job Change by Industry November 2019 - November 2021 3.6%
Total
2021
8.2%
Construction
100,000
6.0%
Manufacturing Continued Claims 2019 Average
3.5%
Information
5.6%
Financial Activities 50,000
-1.1%
Leisure & Hospitality
1.2%
Other Services -2.1%
Government
Unemployment Rate 12% Source: 10% Utah Department of Workforce Services 8% 6% 4% 2% 0.5% 0% S-2% A L 0.1% T LAKE CHAMBER -4% -6% -8%
4.9% 4.1%
2.2% 10/2
2.4% 9/11
3.0% 2/13 3/6 2.9% 3/27 2.8% 4/17 5/8 2.7% 5/29 2.8% 6/19 7/10 2.6% 7/31 2.5% 8/21
3.5% 12/5 1/2 3.3% 1/23
5.3% 6/20 4.5% 7/11 8/1 4.1% 8/22 5.0% 9/12 10/3 4.1% 10/24 4.3% 11/14
3.8% 3/28 10.4% 4/18 5/9 8.6% 5/30
0
1.4%
Education/Health Services Natural Resources
-9.7%
Professional/Business Services
7.3%
Trade/Transportation/Utilities
7.0%
Note: Beginning March 2021, a 2-year change is used due to the drastic changes in employment beginning March 2020. Source: U.S. Bureau of Labor Statistics
ROADMAP TO RECOVERY COALITION
Unemployment Rate November 2021 2.8% 2.8%
3.2% 3.2%
4.2% 4.2% 2.6% 2.6%
1.8% 1.8% 5.1% 5.1%
6.2% 6.2%
-5.2% -5.2% -5.1% -5.1%
USA USA 4.2% 4.2% VT VT NH NH MA MA CT CT RI RI NJ NJ MD MD DC DC DE DE
6.0% 6.0% 4.5% 4.5%
2.6% 2.6% 2.7% 2.7% 5.4% 5.4% 6.0% 6.0% 5.1% 5.1% 6.6% 6.6% 5.4% 5.4% 6.0% 6.0% 5.1% 5.1%
6.9% 6.9%
Source: U.S. Bureau of Labor Statistics
-6.3% -6.3%
3.6% 3.6%
2020
E
2021
1.8% 1.8% Summit Salt Lake 1.9% 2.8% Wasatch Duchesne 1.6% Utah
1.9% Sanpete
2.4% Emery
3.1% Grand
2.1% Sevier
5.0% Garfield
Value of Construction in Utah March 2020 - October 2021
$1,000
3.5% Wayne
3.2% Piute
4.0% San Juan
2.0% Kane
$500
$0
Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct 2020
Source: Utah Department of Workforce Services
S A LT L A K E C H A M B E R
2021
4.7%
Unemployment Rate 1.3%
Trad
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
2.5% Carbon
$ Millions
1.3% Juab
3.3% Uintah
Profe
Continued Claims 12% 2019 Average 10% 8% 6% 50,000 4.9% 4% 4.1% 2% 0.5% 0% -2% 0.1% -4% -6% 0 -8% -10% -12% Unemployment Rate -14% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 US Utah 3.8% 3/28 10.4% 4/18 5/9 8.6% 5/30
1.4% Cache 1.8% Rich 1.8% Weber 1.6% Davis 1.4% Morgan 2.7% Dagget
1.6% Millard
-12.9% Job JobGrowth Growth -12.9%
Job Change 100,000 Year-Over Percent Change, November 2021
1.8% Box Elder
1.9% Washington
-4.9% -4.9% -3.8% -3.8% USA USA -2.0% -2.0% -2.1% -4.1% -4.1%-2.1% -3.2% -3.2% -2.8% -6.0% VT -2.8% -6.0% VT -2.6% -2.6% -3.3% -2.1% -3.3% -2.1% NH -3.0% NH -3.0% -1.0% -1.0% -1.0% -1.0% MA -4.1% MA -4.1% -3.3% -3.3% -0.6% -0.6% -1.7% -1.7% CT -4.3% CT -4.3% -1.3% -1.3% RI -4.5% RI -4.5% -0.4% -0.4% -1.1% -1.1% 0.6% 0.6% NJ -4.1% NJ -4.1% -6.6% -6.6% MD -3.0% MD -3.0% DC -5.2% DC -5.2% -1.0% -1.0% DE -3.5% DE -3.5% -3.0% -3.0%
Note: Beginning March 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 November 2021
1.9% Iron
-4.3% -4.3%
-7.7% -7.7%
-12.9% -12.9%
1.8% Unemployment UnemploymentRate Rate 1.8%
1.9% Beaver
-1.8% -1.8%
-4.1% -4.1%
6.0% 6.0%
1.9% Tooele
-4.8% -4.8%
-0.8% -0.8%
3.6% 3.6%
0.5% 0.5%
-3.1% -3.1%
-1.3% -1.3%
2.2% 10/2
4.7% 4.7%
5.7% 4.8% 4.8% 5.7% 3.0% 3.0% 4.0% 4.0% 5.7% 5.7% 3.4% 3.4% 3.6% 3.6% 3.5% 3.5% 4.1% 4.1% 3.9% 3.9% 4.0% 4.0% 2.5% 2.5% 3.4% 3.4% 3.7% 3.7% 5.0% 5.0% 2.8% 2.8% 3.1% 3.1% 5.2% 5.2% 5.1% 5.1%
2.4% 2.4%
2.4% 9/11
6.9% 6.9%
3.7% 3.7%
-3.4% -3.4%
6.6% 6.6%
5.9% 5.9%
-4.0% -4.0%
-3.6% -3.6%
3.0% 2/13 3/6 2.9% 3/27 2.8% 4/17 5/8 2.7% 5/29 2.8% 6/19 7/10 2.6% 7/31 2.5% 8/21
2.1% 2.1%
3.0% 3.0%
-4.5% -4.5%
3.5% 12/5 1/2 3.3% 1/23
6.8% 6.8%
0.0% 0.0%
3.3% 3.3%
2.7% 2.7%
3.7% 3.7%
-1.2% -1.2%
4.8% 4.8%
5.3% 6/20 4.5% 7/11 8/1 4.1% 8/22 5.0% 9/12 10/3 4.1% 10/24 4.3% 11/14
4.7% 4.7%
Job Change Two-Year Percent Change, November 2021
5.0%
Residential Non-residential Other 4.8% 2.8% 3.2% 3.3% 4.2% 2.6% 3.0% 2.7% Source: Ivory-Boyer Construction Database 6.6% 3.7% 5.9% 3.7% 1.8% 6.8% 4.8% 5.7% USA 4.2% 2.1% 3.0% 4.0% 5.7% 5.1% 3.4% R O A D M A P T O R E C O V E R Y C O A L I TVTI 2.6% ON 3.6% 6.9% 3.5% 4.1% NH 2.7% 3.9% 4.0% 4.7% 2.5% 3.4% MA 5.4% 3.7% 6.2% CT 6.0% 5.0% 2.8%
-3.4
-4.1%
100 Consumer Confidence 80 U.S. Utah January 2020 - December 2021
Jan.Q2Feb. Mar.Q1 Apr. May Jul.Q3Aug. Sep. Nov. Q1 Q3 Q4 Q2 Q3 Q4 Jun. Q1 Q2 Q4 Q1 Q2 Oct. Q3 Q4 Q1Dec. Q1 2017 2018 2019 2020 2021
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 2017 2018 2019 2020 2021
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 2017 2018 2019 2020 2021 100,000 2019 0 80,000 J F M A M J J A S O N D J F M A M J J A S 2020 O N 120,000 2020 2021 2021 60,000 120,000 100,000 2019 Average Bankruptcy Cases Filed 2019 40,000 100,000 2020 2019 80,000 Source: United States Bankruptcy Court
120,000 200
80,000 20,000 60,000
S60,000 A LT L A K E C H A M B E R
11/1/21
11/22/21
9/20/21
10/11/21
0
J A SS OO NN DD 4
43
11/1/21 11/1/21
11/22/2111/22/21
9/20/21 9/20/21
10/11/2110/11/21
8/30/21 8/30/21
8/9/21 8/9/21
7/19/21 7/19/21
6/28/21 6/28/21
2
0 1
11/1/21
11/22/21
9/20/21
10/11/21
8/30/21
8/9/21
7/19/21
6/28/21
40
0
1 $3,874
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 0 2017 2018 2019 2020 2021 6/7/21
60 0
6/7/21 6/7/21
0
$3,00050
5/17/21 5/17/21
0 50
$2,000 50 0
21
3
150 $5,000
$4,000 20100
J A S 4O N D
2021
5/17/21
40
4/26/21 4/26/21
11/1/21
11/22/21
9/20/21
10/11/21
8/9/21
8/30/21
7/19/21
6/7/21
6/28/21
5/17/21
4/5/21
4/26/21
3/15/21
2/1/21
2/22/21
1/11/21
12/21/20
0
A S O N D
32
50200 2020 50 100
$1,000 Note: The Index can range from 0 to 100. A score below 50 indicates executives believe the economy will worsen; a score above 50 indicates a belief among executives that the
$0 20 will improve economy J F M A M J 120,000
J
A S O N D J
F M A M J
J
A S
2020 Source: Salt Lake Chamber’s CEOutlook. Kem C. Gardner 2021 Policy Institute, and Utah 2019 Average Retail Sales 100,000 Bureau0of Labor Statistics 2019
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 2020 2017 2018 2019 2020 2021 Visit Salt Lake Facility Attendees 2021 60,000 80,000
7% 120,000 20,000
50
400
M J J
January 2019 - November 2021 40,000
40 20,000
0
M A
J F M A M J J A S O N D J F M A M J
4/26/21
1
Utah Bankruptcy Cases 50 40,000 January 6020 2019 - November 2021
20
A S 1O N D
100 150
60 0
4/5/21 4/5/21
2
0 120,000 J 0F JM FA M M AJ M J JA JS A O NS DO JN FD MJ AF MM JA JM AJ SJ OA NS DO 2020 2021 2020 2021 100,000 60 2019 2019 Average Airport Passengers Source: State of Utah Unified Response Scorecard 2020 80,000 50 2021 60 40 60,000
600
J
200
3/15/21 3/15/21
2,172,218
50
200
2021
M J
J F M A M J J A S O N D J F M A M J
4/5/21
3
Utah
S
M A
A Mof Jvaccines J Aincludes S O date N listed D J and F M A M J J A 2020 2021 Note:M Number 2020 2021 the following 6 days. 40 Utah Department of Health Source:
3/15/21
4
20 1,500,000 40 0 0 0 J Q1 F Q2 M AQ3M Q4 J Q1 J AQ2S Q3O Q4 N DQ1 J Q2F Q3 M Q4 A MQ1 J Q2J Q3 A Q4 S 0OQ1N Q1D 2020 2021 1,000,000 2017 2018 2019 2020 2021 200 J F M A M J J A S O N D J F M A M J J A S O N D 500,000 2020 2021
800 40 0
60
0%0
2/22/21 2/22/21
U.S.
A
CEO Index, Q1 2017 – Q2 2021 20 Confidence 150 200
80 60 200 100 60
50150 60 40 80 40 2,500,000 100 40 20 2,000,000 60 20
M J
2%
J A S O N D J F 2021 U.S. Utah J A S O N D J F
2020 2021 2021
5%
U.S. Cumulative Case Fatality Rate Utah Cumulative Case Fatality Rate 2019
Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. 2020 Dec. 2021 60,000 3% 80,000
4%
2% 40,000 1% 20,000 0%
M0 A 2020
M J J A S O N D J F M A M J J A S O N D Jan. Feb. Mar. Apr. May Jun. 2021 Jul. Aug. Sep. Oct. Nov. Dec.
Note: Data only includes conferences/conventions with 1500 attendees or more. Source: Visit Salt Lake
ROADMAP TO RECOVERY COALITION 200
4
Cum
40,0000 Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. 40,000 100 20,000 U.S. Utah 20,000
6%
100,000 0
$2,000
7% $0 6% 5% 4% 3% 2% 7% 1%
6% 0% 5% M 4%
20
3% 2% 1% 0% Vaccines Doses by WeekVaccines Doses by Week (Thousands) (Thousands)
Bankruptcy Cases Filed
Utah
A 80 M 20 20200
2020
2/22/21
U.S.
M J
0%
2/1/21 2/1/21
2019 Average
M 50A
4%
1%
F M A M J of JHealth A S OJohn N D J FUniversity M A M J Coronavirus J A S O N Source:2020 Utah J F Department M A M J J A and S O N Hopkins D 2021 J F M A M(JHU) J J A S O N D 100 2020 2021 Resource Center
100
8/9/21
2021
40 1%
A S O N D
0J
S
U.S. Cumulative Case Fatality Rate Utah Cumulative Case Fatality2 Rate
2/1/21
2020
0
J 2019 A Average S O N D JBankruptcy F M ACases M Filed J J
J
3
150
1/11/21 1/11/21
M J
6% 1% 2% 5% 0% 100
S O N
A
A
Bankruptcy Cases Filed Case Fatality Utah Cumulative 4 Rate
200
7% 2% 60 3%
3%
J
2019 Average
12/21/2012/21/20
M A
O N
J
$1,000
F M A M J
8/30/21
2021
S
Utah
7/19/21
2020
A
U.S.
1/11/21
0%
200 20
J
M A M J
Retail Sales
O N D J
6/7/21
J F M A M J J A S O N D J F M A M J 2% 2020 2021 40 0 FiledJ J F M A M 2019 J J Average A S O N DBankruptcy J F MCases A M
400 1%
F
2021
6/28/21
600
5% 6% 4% 80 5% 3% 4%
5/17/21
60 2000 3%
A S
4/5/21
400
200 800 4%
J
4/26/21
U.S. Cumulative Case Fatality Rate Utah Cumulative Case Fatality Rate
Utah
F M A M J
12/21/20
U.S.
O N D J
7% Vaccine 2020 2021 Utah Doses by Week U.S. Cumulative Case Fatality Rate 2019 Average Retail Sales 0 6% 7% 100 J F M A M J J A S O N D J F MCumulative A M J Case J AFatality S ORate N December 14, 2020 - December 6, 2021 UtahCumulative U.S. Case Fatality Rate 2020 2021
Confidence Index
600 6% 400 5%80
J
3/15/21
7% 100
200$0
2/1/21
800 600
A S
Source: Utah State Tax Commission
2/22/21
Airport Passengers
J
January 2021 500,000 2019 - September 2019 Average
1/11/21
2021
M A M J
$3,000
Airport Passengers
$5,000 $5,000 0 J F M A M J J A S O N D J F M A M J J $3,874 A S O $3,874 $4,000 2020 2021 800 $4,000 2019 Average Airport Passengers $3,000 600 7% $3,000 U.S. Cumulative Case Fatality Rate $2,000 6% 400 Utah Cumulative Case Fatality Rate $2,000 5% $5,000 $1,000 $3,874 4% 200 $1,000 $4,000 3% $0 800 J F M A M J J A S O N D J F M A M J J A S 0 $0 2020 2% $3,000 2021 J F J MF A M M A J MJ J A J S AO SN OD NJ FD MJ AF MM JA JM AJ SJ OA NS 2019 Average Sales 1% 2021 Retail 2021 600 2020 2020 $2,000 2019 Average Retail Sales 2019 Average Bankruptcy Cases Filed were required to pay 0% As of October 2019, Note: marketplace facilitators with a Utah nexus M increasing A M J taxable J A retail S sales. O N D J F M A M J J A S O N D 400 tax, sales $1,000 2020 2021
Vaccines Doses by Week Confidence Index Vaccines Doses by Week (Thousands)Vaccines Doses by Week (Thousands) (Thousands)
2020 Case Fatality Rate Cumulative 2019 Average 800 March, 2020 - December 2021
F
2020
12/21/20
J F M A M J J A S O N D J F M A M J J A S O 2020 2021 J F M A M J 2019 J AAverage S O N D JAirport F MPassengers A M J J A S O 2020 2021 1,000,000 $0 2019 Average Airport Passengers 0 J F M A M J J A S O N D J F M A M J J A S J 2020 F M A M J J A S O N D J F 2021 M A M J J A S O N 500,000 2020 2021 2019 Airport Average Retail Sales Source: Salt Lake City International 2019 Average Bankruptcy Cases Filed 0 J F M A M J J A S O N D J F M A M J J A S O 200
J
Vaccines Doses by Week (Thousands)
2,172,218
2019 Average
1,000,000 $0 Taxable Retail Sales (millions) Utah
eek
019 020 021
$3,874
2021
Cumulative Vaccines Cumulative Vaccines Cumulative Vaccines (Millions) (Millions) (Millions)
1 Q1 021
2,172,218 2,172,218
Cumulative Vaccines (Millions)
N D
2,500,000 2,500,000 2,000,000 2,000,000 $5,000 1,500,000 1,500,000 $4,000 800 1,000,000 1,000,000 $3,000 2,500,000 600 500,000 500,000 2,000,000 $2,000 400 0 1,500,000 $1,000 0
J A S O
$0 $4,000
J A S O N D J F M A M J J A S O
2020
Cumulative Vaccines (Millions)
O N
SLC International Airport Passengers 0 J F M A M J J A S O N D J F M A M J 2020 2021 January 2019 - October2019 2021 Average Airport Passengers
Vaccines Doses Index by Week Confidence (Thousands)
S O
J F M A M J
1,500,000 $1,000
500,000
Confidence Index Confidence Index Index Confidence
218
2,000,000 $2,000 0
1,000,000
M
2
Special thanks to the Roadmap to Prosperity Coalition Investors
“Utah’s economy continues to prosper with a November unemployment rate at an all-time low and two-year job growth that leads the nation.”
Roadmap to Prosperity Investor
Protect the Hive Investor
Scott Parson, Co-Chair
“While Utah’s economy thrives, impacts are still uneven across industries and population groups. As we continue to work together, we can move closer to prosperity for all.”
Innovate Investors
Convener Investor
Mikelle Moore, Co-Chair
Collaborator Investor
Rio Tinto Kennecott
Prepared by the Kem C. Gardner Policy Institute