Utah Year-Over Job Change by Industry
February 2023
Year-Over Job Change November 2010 – February 2023
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
Value
1.9% 6.6% Unemployment Rate 2.2% Summit 4.5% Wayne 2.7% Washington 2.3% Wasatch 2.3% Utah 3.2% Uintah 2.7% Tooele 2.8% Sevier 2.8% Sanpete 4.2% San Juan 2.4% Salt Lake 4.5% Piute 2.2% Millard 2.9% Kane 2.0% Juab 2.5% Iron 3.8% Grand 6.6% Garfield 3.1% Emery 3.0% Duchesne 3.3% Carbon 2.3% Box Elder 2.8% Beaver 2.1% Cache 1.9% Rich 2.5% Weber 2.2% Davis 1.9% Morgan 4.0% Dagget Utah Unemployment Rate February 2023 SALT LAKE CHAMBER ROADMAP TO RECOVERY COALITION Source: Utah Department of Workforce Services M F 2020 A M J J A S O N D J 2021 F M A M J J A O S D N $0 $100 $200 $300 $400 $500 $600 Sales Price ($ thousands) J 2022 F F J ‘23 $0 $500 $1,000 $1,500 $ Millions M 2020 A M J J A S O N D J 2021 F M A M J J A O S D N J 2022 F M J ‘23 Residential Non-residential Other 800 900 67% 68% 69% 68.7% 68.3% 67.4% M A M J J A S O N D A M J J A S O N D $464,000 Source: UtahRealEstate.com $100 $200 $300 $400 $500 $600 Sales Price ($ thousands) M F J 2020 A M J J A S O N D J 2021 F F F M A M J J O N D M A M J J A O S A S D N J 2022 J ‘23 U.S. Utah $0 $500 $1,000 $1,500 $ Millions M 2020 A M J J A S O N D J 2021 F M A M J J A O S D N J 2022 F M J ‘23 Residential Non-residential Other 4 5 Billions) 2.0 2.5 0 200 400 600 800 900 60% 61% 62% 63% 64% 65% 66% 67% 68% 69% 68.7% 62.5% 68.3% 60.2% 67.4% 63.4% A M J J A S O N D J Source: Ivory-Boyer Construction Database
of Construction
Utah March 2020 –January 2023 Utah Median Home Sales Price January 2020 – February 2023 3.6% 3.8% 2.1% 5.5% US Utah 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 -14% -12% -10% -8% -6% -4% -2% 0% 2% 4% 6% 8% 10% 12% 2.8% 2.9% Unemployment Rate MA 3.7% CT 4.0% RI 3.1% NJ 3.5% MD 2.9% DC 4.7% DE 4.6% NH 2.7% VT 2.8% USA 3.6% Job Growth 2.7% 3.7% 4.6% 3.2% 2.1% 3.2% 4.4% 4.7% 3.0% 3.9% 2.1% 4.2% 5.5% 2.3% 2.4% 2.6% 3.7% 4.3% 3.6% 3.9% 2.9% 3.1% 4.5% 2.6% 3.1% 2.6% 3.2% 3.7% 2.5% 4.3% 2.9% 2.9% 2.8% 3.0% 3.6% 3.6% 3.5% 4.0% 2.4% 3.8% 2.9% 2.6% Leisure/Hospitality Professional/Business Trade/Transportation/Utilities
in
4.0% 3.6% 0.6% 5.2% 5.5% 2022 2023 2.8% 2.9% 3.7% 4.0% 3.1% 3.5% 2.9% 4.7% 4.6% 2.7% 2.8% 3.6% Job Growth MA CT RI NJ MD DC DE NH VT 2.6% 1.8% 1.3% 2.3% 0.6% 1.4% 2.4% 2.7% 1.8% USA 2.9% 3.6% 2.5% 2.4% 2.5% 2.8% 2.9% 2.6% 1.5% 2.8% 2.7% 5.2% 2.2% 2.2% 1.4% 2.2% 1.8% 3.1% 2.5% 2.5% 3.0% 2.9% 4.2% 2.2% 2.3% 2.1% 2.5% 1.6% 0.6% 2.8% 4.6% 3.1% 3.0% 2.7% 2.2% 2.3% 1.5% 2.5% 1.5% 1.7% 2.6% -2.2% 5.5% 1.0% 4.1% 2.8% 6.5% 2.4% 3.8% 6.0% 6.4% 2.6% 1.4% Total Construction Manufacturing Information Financial Activities Other Services Government Education/Health Services Leisure/Hospitality Services Natural Resources Professional/Business Services Trade/Transportation/Utilities Source: U.S. Bureau of Labor Statistics
Consumer Confidence
October 2020 – February 2023
Note: The y-axis starts at 60% to better illustrate changes in the labor force participation rate
Source: United States Bankruptcy Court
Utah Taxable Retail Sales January 2020 - January 2022
U.S. Inflation Consumer Price Index Year-Over Change
January 2000 - February 2023
Note: As of October 2019, marketplace facilitators with a Utah nexus were required to pay sales tax, increasing taxable retail sales.
Source: Utah State Tax Commission
Utah Bankruptcy Cases
January 2020 - February 2023
Source: United States Bankruptcy Court
SLC International Airport Passengers
January 2020 - January 2023
Source:
SALT LAKE CHAMBER
TO RECOVERY COALITION M F 2020 A M J J A S O N D J 2021 F M A M J J A O S D N $0 $100 $200 $300 $400 $500 $600 Sales Price ($ thousands) J 2022 F F J ‘23 M F J 2020 A M J J A S O N D J 2021 F F F M A M J J O N D M A M J J A O S A S D N J 2022 J ‘23 U.S. Utah $0 $500 $1,000 $1,500 $ Millions M 2020 A M J J A S O N D J 2021 F M A M J J A O S D N J 2022 F M J ‘23 Residential Non-residential Other J 2020 F M J J A S O N D J 2021 F M A M A M J J A F O S D N D N 0 1 2 3 4 5 Retail Sales ($ Billions) M A M J A S O J J 2022 J ‘23 Millions 0 0.5 1.0 1.5 2.0 2.5 J 2020 F M J J A S O N D J 2021 F M A M A M J J A O S D N J 2022 D J ‘23 0 200 400 600 800 900 J 2020 F M A M J J A S O N D J 2021 J 2022 F F J 2023 F M A M J J A S O N D 60% 61% 62% 63% 64% 65% 66% 67% 68% 69% 68.7% 62.5% 68.3% 60.2% 67.4% 63.4% M A M J J A S O N D F M M J J A S O N A M A M J J A S O N D A M J J A S O N D $464,000
ROADMAP
Salt Lake City International
M F 2020 A M J J A S O N D J 2021 F M A M J J A O S D N $0 $100 $200 $300 $400 $500 $600 Sales Price ($ thousands) J 2022 F F J ‘23 M F J 2020 A M J J A S O N D J 2021 F F F M A M J J O N D M A M J J A O S A S D N J 2022 J ‘23 U.S. Utah $0 $500 $1,000 $1,500 $ Millions M 2020 A M J J A S O N D J 2021 F M A M J J A O S D N J 2022 F M J ‘23 Residential Non-residential Other J 2020 F M J J A S O N D J 2021 F M A M A M J J A F O S D N D N 0 1 2 3 4 5 Retail Sales ($ Billions) M A M J A S O J J 2022 J ‘23 Millions 0 0.5 1.0 1.5 2.0 2.5 J 2020 F M J J A S O N D J 2021 F M A M A M J J A O S D N J 2022 D J ‘23 0 200 400 600 800 900 J 2020 F M A M J J A S O N D J 2021 J 2022 F F J 2023 F M A M J J A S O N D 60% 61% 62% 63% 64% 65% 66% 67% 68% 69% 68.7% 62.5% 68.3% 60.2% 67.4% 63.4% M A M J J A S O N D F M M J J A S O N A M A M J J A S O N D A M J J A S O N D $464,000 Labor Force Participation Rate January 2020 – February 2023 M F 2020 A M J J A S O N D J 2021 F M A M J J A O S D N $0 $100 $200 $300 $400 $500 $600 Sales Price ($ thousands) J 2022 F F J ‘23 M F J 2020 A M J J A S O N D J 2021 F F F M A M J J O N D M A M J J A O S A S D N J 2022 J ‘23 U.S. Utah $0 $500 $1,000 $1,500 $ Millions M 2020 A M J J A S O N D J 2021 F M A M J J A O S D N J 2022 F M J ‘23 Residential Non-residential Other J 2020 F M J J A S O N D J 2021 F M A M A M J J A F O S D N D N 0 1 4 5 Retail Sales ($ Billions) M A M J A S O J J 2022 J ‘23 Millions 0 0.5 1.0 1.5 2.0 2.5 J 2020 F M J J A S O N D J 2021 F M A M A M J J A O S D N J 2022 D J ‘23 0 200 400 600 800 900 J 2020 F M A M J J A S O N D J 2021 J 2022 F F J 2023 F M A M J J A S O N D 60% 61% 62% 63% 64% 65% 66% 67% 68% 69% 68.7% 62.5% 68.3% 60.2% 67.4% 63.4% M A M J J A S O N D F M M J J A S O N A M A M J J A S O N D A M J J A S O N D $464,000
Airport
0 50 100 N D J 2021 O 2020 F F M A M J J A S O N D F M A M J J A O S D N J 2022 J 2023 U.S. Utah 2003 2008 2013 2018 2023 -2% 0% 2% 4% 6% 8% 10% 6.0% Recession 0 N D J 2021 O 2020 F F M A M J J A S O N D F M A M J J A O S D N J 2022 J 2023 2003 2008 2013 2018 2023 -2% 0% 2% 4% 6% 8% 10% 6.0% Recession
Institute
Statistics
Source: Kem C. Gardner Policy
Source: Bureau of Labor
M F 2020 A M J J A S O N D J 2021 F M A M J J A O S D N $0 $100 $200 $300 $400 $500 $600 Sales Price ($ thousands) J 2022 F F J ‘23 M F J 2020 A M J J A S O N D J 2021 F F F M A M J J O N D M A M J J A O S A S D N J 2022 J ‘23 U.S. Utah $0 $500 $1,000 $1,500 $ Millions M 2020 A M J J A S O N D J 2021 F M A M J J A O S D N J 2022 F M J ‘23 Residential Non-residential Other J 2020 F M J J A S O N D J 2021 F M A M A M J J A F O S D N D N 0 1 2 3 4 5 Retail Sales ($ Billions) M A M J A S O J J 2022 J ‘23 Millions 0 0.5 1.0 1.5 2.0 2.5 J 2020 F M J J A S O N D J 2021 F M A M A M J J A O S D N J 2022 D J ‘23 0 200 400 600 800 900 J 2020 F M A M J J A S O N D J 2021 J 2022 F F J 2023 F M A M J J A S O N D 60% 61% 62% 63% 64% 65% 66% 67% 68% 69% 68.7% 62.5% 68.3% 60.2% 67.4% 63.4% M A M J J A S O N D F M M J J A S O N A M A M J J A S O N D A M J J A S O N D $464,000