2.2%
Total
1.5%
Construction
0.1%
Manufacturing
7.4%
Information Financial Activities -1.0%
9.4%
Other Services Government
3.2%
Education/Health Services
3.8% 7.0%
Leisure/Hospitality Services 0.0%
Natural Resources
DASHBOARD
0.8%November 2023
Professional/Business Services -0.3%
Trade/Transportation/Utilities
12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% -2.0% -4.0% -6.0% -8.0% -10.0% -12.0% -14.0%
2.2%
The Road to Prosperity Dashboard tracks Utah’s economic outlook. 1.9% The Dashboard, which is updated monthly, provides essential insights, tracks timely and leading measures, and shares salient indicators.
1
THREE ESSENTIAL INSIGHTS: 2012 2014 2016 US
All but two Utah industries experienced employment growth in October.
2
2018 2020 Utah
“Financial activities” and “Trade, Transportation, and Utilities” experienced negative year-over job growth, while Utah employment grew 2.1% overall.
2022
Utah’s median home sales price falls for second consecutive month in October.
The housing market continues to face high interest rates, constraining home buyers’ purchasing power and edging prices slightly downward from $491,000 in August to $485,900 in October.
Unemployment Rate October 2023
U.S. and Utah labor force participation rates fall slightly in October. Despite two months of decreases, Utah’s labor force participation rate remains above pre-pandemic levels. The U.S. rate ticked down slightly in October and has yet to reach pre-pandemic levels.
Year-Over Job Change October 2023 2.3% 2.3%
3.8% 3.8% 3.6% 3.6%
3
2024
2.8% 2.8% 3.2% 3.2%
5.4% 5.4%
2.9% 2.9%
2.7% 2.7%
4.8% 4.8% 4.2% 4.2%
3.3% 3.3%
3.8% 3.8%
1.9% 1.9%
2.8% 2.8%
3.2% 3.2%
2.0% 2.0%
3.2% 3.2%
3.2% 2.2% 3.2% 2.2%
4.1% 4.1%
4.2% 4.2% 3.4% 3.4%
3.6%3.6% 3.6% 3.6% 4.6% 4.6% 4.0% 4.0% 2.7% 2.7% 2.9% 3.1% 2.9% 3.1% 4.2% 4.2% 3.4% 3.4% 3.3% 3.3% 3.2% 3.1% 3.2% 3.1% 2.9% 2.9% 2.3% 2.3% 3.4% 3.4% 3.3% 3.3% 4.1% 4.1% 3.3% 3.3% 2.8% 2.8%
4.3% 4.3%
1.7% 1.7%
USA 3.9% 3.9% USA VT 2.0% 2.0% VT NH 2.1% 2.1% NH 2.8% MA 2.8% MA CT 3.5% 3.5% CT RI 2.7% 2.7% RI NJ 4.6% 4.6% NJ MD 1.7% 1.7% MD DC 5.0% 5.0% DC DE 4.2% 4.2% DE
1.6% 1.6% 3.5% 3.5%
3.5% 3.5%
2.2% 2.2%
1.6% 1.6% 1.6% 1.6%
1.7% 1.7%
Source: U.S. Bureau of Labor Statistics
S A LT L A K E C H A M B E R
1.1% 1.1% 1.9% 1.9%
2.4% 2.4%
1.5% 1.5%
1.4% 1.4% 1.0% 1.0%
1.2% 1.2% 0.8% 0.8% 2.2% 2.2% 0.2% 0.2% 1.3% 1.3% 2.0% 2.0% 1.0% 1.0% 1.4% 2.0% 1.4% 2.0% 1.2% 1.2% 1.4% 1.4% 1.4% 1.4% 2.6% 2.6% 1.9% 1.9% 1.1% 1.1% 1.3% 1.3% 2.2% 2.2% 0.9% 0.9% 1.2% 1.2% 1.9% 1.9% 0.0% 0.0% 2.9% 2.9% 2.2% 2.2%
2.0% 2.0%
2.9% 2.9%
2.9% 2.9%
Unemployment Rate
2.8% 2.8%
1.9% 1.9%
USA 1.9% 1.9% USA VT 0.9% 0.9% VT NH 2.0% 2.0% NH MA 2.1% 2.1% MA CT 1.8% 1.8% CT RI -0.5% -0.5% RI NJ 1.9% 1.9% NJ MD 1.7% 1.7% MD DC 1.6% 1.6% DC DE 2.1% 2.1% DE
1.0% 1.0% 5.4% 5.4%
Job Growth
-0.5% -0.5%
3.45% 3.45%
Source: U.S. Bureau of Labor Statistics
ROADMAP TO RECOVERY COALITION