SALT LAKE CITY, Utah, Jan. 21, 2022 (Gephardt Daily) — The Utah Department of Workforce Services has released its December 2021 report, which shows record low unemployment.
“As Utah’s economy progressed through 2021, the most striking theme was dwindling labor availability,” said Mark Knold, chief economist at the Department of Workforce Services.
“Each month the unemployment rate moved lower and lower, finally sinking last month into historic territory. The state’s unemployment rate is now below 2.0% for the first time ever. This is uncharted territory in terms of such a low unemployment rate and gauging how much lower it can conceivably go.”
Utah’s nonfarm payroll employment for December 2021 increased an estimated 3.7% across the past 24 months, with the state’s economy adding a cumulative 59,200 jobs since December 2019. Utah’s current employment level stands at 1,646,900.
December’s seasonally adjusted unemployment rate is estimated at 1.9%, with approximately 31,800 Utahns unemployed. Utah’s November unemployment rate is unchanged at 2.1%. The December national unemployment rate continued to decline, registering 3.9%.
Utah’s December private sector employment recorded a two-year expansion of 5.0%. Eight of Utah’s 10 major private-sector industry groups posted net two-year job gains, led by Trade, Transportation and Utilities (22,300 jobs); Professional and Business Services (15,200 jobs); Construction (11,500 jobs); and Manufacturing (7,900 jobs). The two industry groups with less employment than two years ago are Natural Resources and Mining (-800 jobs); and Other Services (-200 jobs).
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Additional analysis and tables at https://jobs.utah.gov/wi/
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County unemployment rates for December will post on or shortly after January 24, 2022, at https://jobs.utah.gov/wi/
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January’s employment information will be released at 7 a.m. on Wednesday, March 2, 2022.
See the eight-page report, illustrated with charts, below.
