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Utah ranks first in the nation for job growth for third consecutive monthMay 28 2015 - 12:58 pm
Utah ranks first in the nation for job growth for third consecutive month
SALT LAKE CITY (May 28, 2015) – For the third consecutive month, Utah has posted the highest job growth rate in the nation. According to new data released this week, the Beehive State ranked first for total job growth at 4.0 percent and first for private sector job growth at 4.8 percent.
“Utah is the place to do business,” said Gov. Gary R. Herbert. “When we set the goal to become the nation’s leading economy, some thought that was a bit audacious. Today, it is reality. Our economic growth has been impressive and steady. Our strong and diverse economic performance comes from our commitment to fundamental, conservative principles that cultivate an environment where business can succeed.”
Here is how Utah compares with the rest of the nation:
Utah ranked first in the nation in highest total job growth at 4.0 percent. Florida and Washington tied for second at 3.7 percent followed by Nevada at 3.4 percent.
Utah ranked first in the nation in highest private sector job growth at 4.8 percent. Florida ranked second at 4.1 percent and Washington was third at 4.0 percent.
Utah had the third-lowest unemployment rate in the nation at 3.4 percent. States with lower rates are Nebraska at 2.5 percent and North Dakota at 3.1 percent.
Utah’s unemployment rate of 3.4 percent for the month of April is two percentage points below the national rate of 5.4 percent. While the Utah unemployment rate held constant last month, expansion in the state’s labor force continued to climb for the fourth consecutive month by posting a year-over increase of 2.9 percent.
Job growth for April was balanced with eight of ten private sector industry groups posting net job increases. Double digit employment growth occurred in two subsectors: computer systems design and arts, entertainment and recreation. The reported strong growth is especially welcome ahead of Utah’s summer tourism season.
For more information visit jobs.utah.gov.
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