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August labor report shows Utah economy continues to add new jobs

Posted at 8:42 AM, Sep 21, 2018
and last updated 2018-09-21 10:42:59-04

SALT LAKE CITY — Utah’s nonfarm payroll employment for August 2018 grew by an estimated 3.7 percent, adding 54,700 jobs to the economy since August 2017. Utah’s current employment level registers 1,517,800. July’s year-over job growth rate was revised upward one-tenth to 4.0 percent.

August’s seasonally adjusted unemployment rate remained unchanged from the prior month at 3.1 percent. Approximately 49,800 Utahns were unemployed during the month and actively seeking work. The national unemployment rate also remained unchanged from the prior month at 3.9 percent.

“Utah’s labor market continues to perform at an optimal level with the addition of almost 55,000 jobs over the last year,” reported Carrie Mayne, Chief Economist at the Department of Workforce Services. “The state’s labor force continues to grow and is quickly absorbed into the employment rolls by Utah’s expanding businesses.”

Utah’s private sector employment grew by 3.9 percent year-over with the addition of 47,600 positions. Nine of the 10 private sector industry groups measured in the establishment survey posted net job increases in August, while Natural Resources and Mining lost 200 jobs year-over. The largest private sector employment increases were in Trade, Transportation, and Utilities (13,700 jobs); Education and Health Services (7,200 jobs); and Leisure and Hospitality (7,100 jobs). The fastest employment growth occurred in Trade, Transportation, and Utilities (4.9 percent); Leisure and Hospitality (4.8 percent); and Manufacturing (4.4 percent).