June 23, 2014

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CEO of the Year

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Article

Utah Unemployment Rate Hits Lowest Level in More Than Five Years

Press Release

June 23, 2014

Salt Lake City – Utah’s unemployment rate dropped to its lowest level since November 2008. The state’s rate is down to 3.6 percent, which compares to 3.8 percent last month, according to figures released by the Department of Workforce Services Friday.

 “Our state's economy continues to be the envy of the nation," said Gov. Gary R. Herbert. "While we have the third lowest unemployment rate and the fourth highest job growth rate of any state, it’s even more important that our growth is distributed across a broad spectrum of industries. Utah is proof positive that conservative principles and a determination to stick to them produce results."

 Utah's job growth also remains near its historical average at an estimated 2.9 percent, adding 37,500 jobs to the economy compared to May 2013. All of Utah’s private sector industries posted job increases in June with largest increases coming in trade, transportation and utilities (9,800 jobs) and construction (5,400 jobs).  

“The goal is to have balanced, strong and consistent economic growth and that's exactly what we have in Utah,” said Juliette Tennert, chief economist for the Governor’s Office of Management and Budget. “The governor has always been focused not just on creating jobs but doing it in a way that will help the economy be strong today and into the future. And that's exactly what we're doing.”

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