Construction
10.1% 1.8%
Manufacturing Information
10.3%
Financial Activities -3.0% Leisure & Hospitality
6.5% 0.0%
Other Services Government
1.7%
Education/Health Services
5.3%
Natural Resources
9.9%
Professional/Business Services
-0.3%
Trade/Transportation/Utilities
4.4% October 2022
DASHBOARD 12% 10% 8% 6% 4% 2% 0% -2% -4% -6% -8% -10% -12% -14%
3.7% 3.5%
The Road to Prosperity Dashboard tracks Utah’s economic outlook. The Dashboard, which is updated monthly, provides essential insights, tracks timely and USleading measures, and shares salient indicators. Utah 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
THREE ESSENTIAL INSIGHTS:
1
Utah’s low unemployment rate continues. Utah’s September unemployment rate of 2.1% continues a 19-month trend of an unemployment rate below 3.0%.
2
Home prices decline. While Utah home prices have risen year-over, Utah’s median home sales price has fallen from $535,050 in May to $490,000 in September 2022.
Unemployment Rate September 2022
While consumer confidence has fluctuated mildly, it has remained low for the past several months both in Utah and nationwide.
Year-Over Job Change September 2022 3.7%
3.7% 3.8%
3
Consumer confidence remains low.
2.9% 2.8% 3.3%
2.2%
2.0%
2.3% 2.2%
4.4%
2.1%
3.9% 3.7%
3.4%
2.6% 3.2%
4.2%
3.3%
4.0% 4.4%
3.2%
4.1%
2.2% 4.5%
4.1% 4.0% 4.5%2.8% 4.0% 2.6% 3.8% 2.4% 3.6% 3.4%
2.7%
3.2% 2.6% 2.8% 3.6% 3.4%
3.5%
2.5%
3.2%
4.3% USA 3.5% VT NH MA CT RI NJ MD DC DE
2.1% 2.2% 3.4% 4.0% 3.1% 3.3% 4.0% 4.7% 4.3%
4.3% 4.3%
3.5%
3.6%
2.0%
Source: U.S. Bureau of Labor Statistics
S A LT L A K E C H A M B E R
2.6%
4.0% 3.8%
2.9%
3.3% 2.4%
3.2%
4.1%
3.6% 2.0% 4.0% 3.1% 3.0% 2.1% 2.5% 3.4% 4.2% 4.5% 4.5% 2.6% 4.4% 2.7% 2.6% 4.9% 0.7% 5.6% 5.4% 2.6%
2.5%
5.4%
1.9%
3.5%
Unemployment Rate
2.7%
3.1%
USA 3.7% VT NH MA CT RI NJ MD DC DE
2.4% 2.6% 4.1% 2.8% 3.0% 4.5% 3.1% 2.1% 2.4%
3.7 % 4.7%
Job Growth
0.7%
5.6%
Source: U.S. Bureau of Labor Statistics
ROADMAP TO RECOVERY COALITION