Unemployment matches lowest rate in December

Utah’s jobless rate dropped by one-tenth of a percentage point in December, matching its low point of 3.1 percent, achieved in March and April of last year. That means that 49,700 Utahns were actively seeking a job in December, according to the Department of Workforce Services.

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The national unemployment rate remained unchanged in December at 4.1 percent.

Utah’s nonfarm payroll employment for December grew by an estimated 2.7 percent, adding 38,800 jobs to the economy since December 2016. The current number of employed residents now sits at 1,497,600, the department said. 

“With a full picture of 2017, Utah’s economic performance compared favorably to the rest of the United States,” said Carrie Mayne, chief economist at the Department of Workforce Services. “Utah’s labor market experienced a solid year of steady, sustainable expansion with job growth averaging 3.1 percent and unemployment at 3.5 percent.”

Utah’s private sector employment grew by 2.8 percent year-over-year with the addition of 33,500 positions. Seven of the 10 private sector industry groups measured in the establishment survey posted net job increases in December as compared to last year.

The natural resources and mining sector decreased by 500 positions, while the information sector lost 100 positions and financial activities employment remained unchanged from a year ago. The largest private sector employment increases were in the leisure and hospitality sector with 8,300 new jobs. Construction added 6,300 jobs and education and health services tacked on 6,300 positions. The fastest employment growth occurred in construction (6.9 percent), leisure and hospitality (6.0 percent) and other services (3.5 percent).{/mprestriction}