Employment Numbers in Utah | August 2021
The state of Utah reported an unemployment rate of 2.6% ranking well below the national rate which dropped to 5.2%. Utah currently boasts the second lowest unemployment rate in the nation, behind Nebraska, and ahead of Idaho and South Dakota.
Utah also reported a positive 3.8% job growth rate (compared to August of 2020) in contrast to the national job growth rate which slowed to -2.8%.
“Utah’s August employment report shows that the state’s economy is still on a solid footing,” says Mark Knold, Senior Economist at the Department of Workforce Services. “It is continuing to expand, and is doing so far ahead of most other states.”
You can listen to Knold’s breawdown on the latest employment numbers, here:
How Utah’s Employment Numbers Impact the Staffing Industry
“The labor force participation rate continues to increase,” says Knold, “signaling more workers are returning to the job market, and the employed percentage of the labor force is also increasing.”
While the labor force participation rate has seen very positive growth over the past 4 months, but is still slightly lower than the pre-pandemic rate. There is still room for improvement as the state continues to build toward a full-employment economy.
YES continues to be successful in attracting quality job applicants and employees. Manufacturing employment has bounced back since the beginning of pandemic and has seen a strong two-year growth rate of 6.5%. As Utah’s best staffing agency, our work to match employers and jobseekers has not slowed.
The spreading Covid Delta-variant does have some people concerned, but experience gained over the last year has the state in good position to weather the potential storm. “The Utah economy should make it through to better days,”
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Cheers to Utah Jobs!
Director of Marketing
Your Employment Solutions
“I help connect Utah jobseekers to Utah jobs.”