New rankings position Utah’s economy among top in nation

Pete CodellaNews

Last Friday, the latest job report showed Utah’s economy continues its strong performance. New rankings released this week indicate Utah’s economy is one of the strongest in the nation.

Here is how Utah compares with the rest of the nation:
Utah had the third-lowest unemployment rate in the nation at 3.4 percent. Only Nebraska (2.6 percent) and North Dakota (3.1 percent) have lower rates.
Utah ranked first in the nation in highest total job growth at 4.0 percent. Florida was second (3.8 percent), followed by Oregon (3.4 percent) and Washington (3.4 percent).
Utah ranked first in the nation for private sector job growth at 4.6 percent. Florida was second at 4.2 percent.

“Our approach to job creation is a model for the nation,” said Gov. Gary R. Herbert. “Utah’s economy is doing remarkably well because of sound fiscally conservative principles that empower the private sector to create jobs and grow the economy.”

Figures released Friday show total job growth of 4.0 percent while private-sector job growth is 4.6 percent. Utah’s unemployment rate of 3.4 percent remained more than two percentage points below the national rate of 5.5 percent. The Utah unemployment rate held constant from last month and the state’s labor force expanded at 2.5 percent, a pace unseen since the year 2013.

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