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It took some two-and-a-half years, but a U.S. labor market that lost 22 million jobs thanks to the COVID-19 pandemic is finally back to pre-public health crisis levels. But, while U.S. businesses added 528,000 jobs in July, a critical labor shortage continues with 1.8 openings for every 1 available worker.
The Department of Workforce Services (DWS) reported that Utah's non-farm payroll employment for June of 2022 increased an estimated 3.5% across the past 12 months. This increase came with the state's economy adding a cumulative 56,300 jobs since June 2021. Currently, Utah's current job count stands at 1,666,300. For the month of June, the adjusted
Two consecutive quarters of negative GDP growth can be a recession indicator. However, other factors, like consumer spending and employment levels, suggest a recession is not on the way.
Utah's unemployment rate held steady at 2 percent in June, the same rate as reported in May.
56,000 Utah jobs have been created in the last year and businesses are trying to find workers to fill them.