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New employment numbers shows Utah's job market remains vibrant

January 2020 employment summary
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Posted at 7:43 AM, Mar 04, 2020
and last updated 2020-03-04 09:43:38-05

SALT LAKE CITY — Utah’s nonfarm payroll employment for January 2020 grew by an estimated 2.9 percent, adding 44,900 jobs to the economy since January 2019. Utah’s current employment level registers 1,568,600. December’s year-over job growth has been revised down to 2.9 percent.

January’s seasonally-adjusted unemployment rate is estimated at 2.5 percent. End-of-year revisions and updated population estimates combined for a slight upward unemployment rate adjustment. Approximately 40,000 Utahns were unemployed and actively seeking work during January. The national unemployment rate remained unchanged at 3.5 percent.

“Utah begins 2020 on a solid economic foundation and Utah’s job market remains vibrant,” reported Mark Knold, Chief Economist at the Department of Workforce Services. “Job postings are plentiful. Employers are aggressively seeking labor. This is a Utah labor market hitting its maximum stride.”

Utah’s private sector employment grew by 3.0 percent year-over with the addition of 38,300 positions. Eight of the 10 private-sector major industry groups measured in the establishment survey posted net job increases in January.

The largest private-sector employment increases were in Leisure and Hospitality Services (11,100 jobs); Education and Health Services (7,900 jobs); and Construction (7,400 jobs).

The fastest employment growth occurred in Leisure and Hospitality Services (7.5 percent); Construction (7.3 percent); and Information (7.1percent).

Additional analysis and table can be found here.