Employment Numbers in Utah | September 2022
The Utah Department of Workforce Services releases data on current jobs and unemployment for the state on a monthly basis. Here is the latest employment data for the month of September 2022.
The unemployment rate increased slightly to 2.1% after a 5 month plateau at 2.0%. The national unemployment rate dropped 2 points to 3.5%. Utah’s unemployment rate remains among the lowest nationwide.
The job growth rate in Utah dropped slightly to 3.4% over the last 12 months. The national job growth rate dropped again to 3.8%.
“The Utah economy continues to produce strong economic numbers,” says Mark Knold, Senior Economist at the Department of Workforce Services. “Job growth remains above the state’s long-term average, and the unemployment rate endures in the historically-low range. Job opportunities remain strong.”
You can listen to Knold’s breakdown on Utah’s September 2022 employment numbers, here:
Impact of Utah’s Employment Data on the Staffing Industry
An upcoming recession is a hot topic nationwide right now as the Fed attempts to slow down the economy to fight inflation. Utah remains in a protective bubble as job growth continues at a healthy rate. “Right now the Utah economy has a large amount of unfilled jobs,” Knold points out. High levels of state in-migration has contributed to Utah’s economic growth, and the state shows little signs of slowing down.
As such, Utah’s labor market remains highly competitive. There will not likely be a notable job loss that increases the unemployment rate anytime soon, thus finding workers and attracting the right talent continues to be a challenge for many business. What kind of strategy does your business employ to meet your labor needs? Your Employment Solutions (YES) is Utah’s staffing industry expert at gathering actionable data and analytics to help companies succeed in attracting and retaining quality labor. If you need assistance in your hiring efforts, contact YES today. We would love to be your employment solution.
To work with YES, please visit our Request an Employee page.
Cheers to Utah Jobs!
Director of Marketing
Your Employment Solutions
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