Utah’s unemployment rate matches record-low

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Utah’s nonfarm payroll employment for November 2019 grew by an estimated 3.3%, adding 51,600 jobs to the economy since November 2018. Utah’s current employment level registers 1,595,800. October’s year-over job growth is unrevised at 3.3%. 

November’s seasonally-adjusted unemployment rate lowered one-tenth of a percentage point to 2.4%. This matches Utah’s lowest recorded unemployment rate, only seen before in early 2007. Approximately 39,200 Utahns were unemployed and actively seeking work during November. The national unemployment rate dropped one-tenth of a percentage point to 3.5%. 

“Utah’s unemployment rate has fallen by four-tenths of a percentage point over the past four months,” reported Mark Knold, Chief Economist at the Department of Workforce Services. 
“Rapid declines in such a low unemployment environment point to an economy running at full steam. Employment opportunities are plentiful.” 
Utah’s private sector employment grew by 3.7% year-over with the addition of 47,500 positions. Once again, all 10 of the private sector major industry groups measured in the establishment survey posted net job increases in November. The largest private sector employment increases were in Education and Health Services (12,500 jobs); Construction (9,500 jobs) and Professional and Business Services along with Leisure and Hospitality Services, both with 6,300 new jobs. The fastest employment growth occurred in Construction (9.1%); Education and Health Services (6.0%); and Leisure and Hospitality Services (4.3%).