This story appears in the January 2026 issue of Utah Business. Subscribe.
Years ago, when I worked as a management accountant in Germany, I learned something numbers alone can’t show: balance sheets don’t capture human dignity. Now, as a professor of human resources, I see how that truth still applies, especially in Utah, where economic growth and worker well-being don’t always align.
Utah’s economy is booming. We’re proud of our low unemployment rate, our innovation and our business-friendly environment. But for too many Utahns, the math of daily life no longer adds up. Our minimum wage is still $7.25 an hour, the same as it was in 2009. Inflation has risen about 40 percent since then, while housing costs in Salt Lake City have climbed nearly 200 percent over the past two decades, creating a strain felt by thousands of working families, according to a 2022 Utah Public Radio analysis.
That gap isn’t just a statistic. It’s a reality lived by people working full-time yet struggling to keep up. A worker earning $7.25 an hour brings home about $15,000 a year — barely enough to cover rent in most Utah cities, let alone groceries or childcare. I’ve spent my career studying both numbers and people, and I know an equation that doesn’t work when I see one.
Whenever the topic of raising wages arises, the conversation too often becomes a clash between workers and business owners, as though their interests are inherently opposed. But they’re not. Fair pay isn’t just a moral issue; it’s smart business. High turnover is costly. Recruiting, onboarding and training new employees require significant time and resources. Paying a bit more up front can save far more in the long run while building a loyal and motivated workforce.
Other states have already proven that modest wage increases can coexist with strong economies. Colorado and Washington have implemented minimum-wage schedules that adjust for inflation, and Arizona has consistently raised its wage floor — yet their job markets continue to grow. The takeaway is simple: when workers can afford to live where they work, communities and businesses both thrive.
Utah is ready for its own version of that approach. We’re a state that believes in hard work, self-reliance and community. Those values don’t conflict with fair wages; they depend on them. We can raise the minimum wage carefully and predictably, using data to guide each step. Regional adjustments could give rural businesses flexibility, and connecting wages to the real cost of living would help ensure that as prices rise, work and well-being stay in balance. Businesses deserve stability just as much as workers deserve a livable income.
This isn’t about partisanship; it’s about alignment between what we say we value and what our policies reward. When the people who serve our meals, stock our shelves and care for our children can’t afford to live in the communities they sustain, something in the system is out of sync.
Utah’s success story has never been just about growth; it’s about character. Let’s make sure our prosperity reflects both our economic strength and our shared humanity. Because an economy that leaves its workers behind isn’t truly strong — it’s simply unfinished.