Jobless rate inching on down

Utah has been a national leader for its low unemployment rate for several years and it got a little bit lower in June, according to figure released by the state’s Department of Workforce Services. June’s rate was 2.8 percent, down from 2.9 percent in May. 

Meanwhile, the national unemployment rate ticked up one –tenth of a point to 3.7 percent.

Utah’s nonfarm payroll employment has grown by an estimated 3 percent, adding 45,200 jobs to the economy since June 2018. Utah’s businesses currently employ about 1,561,400 people. 

The unemployment rate translates to approximately 45,500 Utahns being unemployed and actively seeking work during the June.

“The Utah economy remains strong and continues to absorb and employ labor at a fast pace,” said Mark Knold, senior economist at the Department of Workforce Services. “The unemployment rate has lowered to 2.8 percent, the lowest in more than 12 years. It is remarkable that Utah can still grow the employment base by 3.0 percent given this extremely tight labor market.”

Utah’s private-sector employment grew by 3.2 percent year-over-year with the addition of 40,200 positions. All 10 of the private-sector industry groups measured in the survey posted net job increases in June. The largest private-sector employment increases were in education and health services (9,900 jobs), professional and business services (8,600 jobs) and manufacturing (6,300 jobs).