DASHBOARD
October 2021
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
2
Utah’s two-year job growth
Consumer confidence falls
is highest in the nation.
Consumer confidence climbed steadily from October 2020 to April 2021. For the past few months, consumer confidence has fallen with August 2021 declining to the lowest level since the measure began in October 2020.
Utah’s August two-year job growth of 3.5% is the highest in the nation and one of only three states showing positive job change.
Utah Continued Weekly Unemployment Claims March 2020 – August 2021 2020
3
Unemployment claims drop below 2019 average. Utah’s August weekly continued unemployment claims ranged between 7,800 and 8,700, all below the 2019 average of 8,856.
Utah Job Change by Industry August 2019 - August 2021 3.8%
Total
2021
9.9%
Construction
100,000
6.5%
Manufacturing
Continued Claims 2019 Average
-1.7%
Information
6.8%
Financial Activities
50,000
-1.5%
Leisure & Hospitality
-0.9%
Other Services
-1.6%
Government
1.6%
Unemployment Rate 12% 10% Source: 8% Utah Department of Workforce Services 6% 4% 2% 0.5% 0% S-2% A L 0.1% T LAKE CHAMBER -4% -6% -8%
8/21
7/31
7/10
2.6%
2.8% 6/19
5/8
5/29
2.7%
2.8% 4/17
3/6
3/27
2.9%
3.0% 2/13
1/2
3.3% 1/23
3.5% 12/5
4.3% 11/14
10/3
4.1% 10/24
5.0% 9/12
8/1
8/22
4.1%
4.5% 7/11
5.3% 6/20
5/9
8.6%
5/30
Education/Health Services 3.8% 3/28 10.4% 4/18
0
Natural Resources Professional/Business Services Trade/Transportation/Utilities
6.7% 5.3%
-11.5% 8.9% 5.8%
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 August 2021
Job Change Two-Year Percent Change, August 2021 -1.9% -1.9%
5.1%5.1% 3.5%3.5% 4.9%4.9% 2.9%2.9%
-0.9% -0.9%
4.9%4.9%
3.6%3.6% 3.8%3.8%
-4.0% -4.0% -5.4% -5.4%
2.9%2.9%
3.9%3.9% 7.4%7.4% 4.7%4.7% 4.1%4.1% 6.4% 6.4% USAUSA 2.2% 2.2% 7.7%7.7% 5.2% 5.2% 5.4%5.4% 2.6%2.6% 7.0%7.0% 4.8% 4.8% 4.1% 4.1% 5.9%5.9% VT 3.0% VT 3.0% 4.0% 4.0% 3.8%3.8% 4.0%4.0% 7.5%7.5% 4.3%4.3% NH NH 3.0%3.0% 4.3% 4.3% 4.6%4.6% 5.0% 5.0% MA MA 3.2%3.2%4.2%4.2% 6.2%6.2% 4.2%4.2% CT CT 7.2%7.2% 7.2%7.2% 6.0%6.0% 3.5%3.5% RI 5.8% RI 5.8% 3.1%3.1% NJ NJ 7.2%7.2% 5.9%5.9% 6.2%6.2% MD MD 5.9%5.9% 6.4%6.4% DC DC 6.7%6.7% 5.0%5.0% DE DE 6.5%6.5% 4.9%4.9%
7.7%7.7%
Source: U.S. Bureau of Labor Statistics
-5.5% -5.5% -4.6% -4.6% -3.8% -3.8% 3.2%3.2% USAUSA -2.6% -2.6% -3.2% -3.2% 3.5%3.5% -2.4% -3.7% -3.6% -3.6%-3.7% -2.4% -3.7% VT -3.7% VT -5.2% -5.2% -3.2% -3.2% -2.2% -4.8% -4.8% -2.2% -3.6% -3.6% -5.3% NH NH -5.3% -1.0% -1.0% -1.1% -1.1% -3.4% MA MA -3.4% -0.8% -0.8% -4.0% -4.0%0.7%0.7% -2.8% -2.8% -5.3% CT CT -5.3% -8.6% -8.6% -2.6% -2.6% RI -5.4% RI -5.4% -1.5% -1.5% -7.8% -7.8% -5.4% NJ NJ -5.4% -0.8% -0.8% -7.2% -7.2% -3.6% MD MD -3.6% -2.3% -2.3% -3.4% DC DC -3.4% -2.4% -2.4% -6.1% DE DE -6.1%
JobJob Growth Growth
-12.4% -12.4%
3.5%3.5%
2020
E
2021
4.9% Uintah
3.8% Emery
3.1% Sevier
4.5% Grand
6.7% Garfield
5.9% San Juan
$0
Unemployment Rate
Source: Utah Department of Workforce Services
S A LT L A K E C H A M B E R
8/21
7/31
7/10
2.6%
2.8% 6/19
5/8
5/29
2.7%
2.8% 4/17
3/6
3/27
2.9%
3.0% 2/13
1/2
3.3% 1/23
3.5% 12/5
4.3% 11/14
10/3
4.1% 10/24
5.0% 9/12
8/1
8/22
4.1%
4.5% 7/11
$500
2.9% Kane
1.9%
5/9
Value of Construction in Utah March 2020 - June 2021 $1,000
5.0% Wayne
4.0% Piute
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
3.5% Carbon
2.7% Sanpete
5.3% 6/20
2.6% 4.3% Wasatch 2.2% Duchesne Utah
5/30
3.8% 3/28 10.4% 4/18
2.5% Summit
$ Millions
2.5% Salt Lake
Profe
Continued Claims 12% 2019 Average 10% 8% 6.7% 50,000 6% 5.3% 4% 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 US Utah 8.6%
1.9% Cache 2.3% Rich 2.7% Weber 2.3% Davis 1.9% Morgan 4.0% Dagget
1.9% Juab
2.6% Washington
-5.6% -5.6%
Job Change 100,000 Year-Over Percent Change, August 2021
2.3% Box Elder
2.7% Iron
-6.3% -6.3%
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 August 2021
2.6% Beaver
-4.4% -4.4%
-0.6% -0.6%
-12.4% -12.4%
Unemployment Rate Unemployment Rate2.2%2.2%
2.3% Millard
-6.5% -6.5%
-1.6% -1.6%
7.0%7.0%
2.7% Tooele
-5.6% -5.6%
-5.2% -5.2%-4.6% -4.6%
5.1%
6.7%
Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun 2020 2021
Non-residential Other 3.5%Residential 4.9% 3.6% 3.8% 4.9% Source: 2.9% Ivory-Boyer Construction Database 2.9% 3.9% 7.4% 4.9% 4.7% 4.1% 6.4% 2.2% 7.7% USA 5.2% 5.4% 2.6% 4.1% R O A5.9% D M A P T O R 7.0% ECO V E R4.8% Y C O A LVTI T3.0% IO 4.0% 3.8% 7.5% 4.0% 4.3% NH 3.0% 4.3% 4.6% MA 5.0% 3.2% 4.2% 6.2% 4.2% CT 7.2% 7.2%
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Source: Salt Lake Chamber’s CEOutlook. Kem C. Gardner Policy Institute, and Utah 2020 2021
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January 40,000 2019 - August 2021 6% 100,000 0
U.S. Cumulative Case Fatality Rate Utah Cumulative Case Fatality 2019 Rate
Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec. 2020 2021 60,000 3% 5%
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Note: Data only includes conferences/conventions with 1500 attendees or more. Source: Visit Salt Lake
ROADMAP TO RECOVERY COALITION 2.5 200
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3/1/21
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U.S. Cumulative Case Fatality Rate Utah Cumulative Case Fatality Rate
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1
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1
Special thanks to the Roadmap to Prosperity Coalition Investors
“Utah’s economy continues to prosper. August data show Utah leading, ranking first in the nation for twoyear job growth with the second lowest unemployment rate.”
Roadmap to Prosperity Investor
Protect the Hive Investor
Scott Parson, Co-Chair
“With rising case counts and declining consumer confidence, Utahns must remain vigilant. With collaboration and perseverance Utah will continue to thrive.”
Innovate Investors
Convener Investor
Mikelle Moore, Co-Chair
Collaborator Investor
Rio Tinto Kennecott
Prepared by the Kem C. Gardner Policy Institute