Economic snapshot – February 2019

Utah continues to have one of the best labor markets in the nation.

In December, the state’s year-over-year employment growth improved from 3.0 percent to 3.1 percent – the 4th highest rate in the country. Utah’s unemployment rate remained at 3.2 percent. Utah added 47,200 jobs over the past year, with the trade, transportation, and utilities (+15,000), education and health services (+5,900), and government (+5,700) sectors adding the largest number of employees. Utah continues to experience above-trend inflation, with the Wasatch Front Consumer Price Index rising 5.4 percent over the year versus 1.9 percent nationwide. With uncertainty over the national economy rising, the Utah Consumer Attitude Index fell from 115.8 in December, to 113.9 in January.

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