Jobless rate stays steady in May at 2.9%

Steady as she goes.

Utah’s May unemployment stayed unchanged at 2.9 percent, according to numbers released last week by the Utah Department of Workforce Services (DWS). That means only approximately 45,500 Utahns were unemployed and actively seeking work during the month.{mprestriction ids="1,3"}

Meanwhile, the national unemployment rate was also unchanged at 3.6 percent, according to the U.S. Bureau of Labor Statistics.

Over the past year, Utah’s nonfarm payroll employment has grown by an estimated 2.9 percent, adding 44,200 jobs to the economy since May 2018. Utah’s current number of employed sits at 1,556,400. 

But there are still jobs to be found. “Job-seeker opportunities remain robust as we continue to experience strong job growth and markedly low unemployment,” said Mark Knold, senior economist at DWS. “While the job growth rate did abate a bit in May, it does not reflect an underlying softening in economic demand.”

Utah’s private-sector employment has grown by 3.1 percent year-over-year with the addition of 39,200 positions. All 10 of the private-sector industry groups measured in the establishment survey posted net job increases in May. 

The largest private-sector employment increases were in education and health services (7,700 jobs); trade, transportation, and utilities (6,600 jobs); and professional and business services (6,300 jobs). The fastest employment growth occurred in information (4.7 percent); manufacturing (4.7 percent); and education and health services (3.8 percent).{/mprestriction}