Utah’s unemployment rate held steady at 2.9% in February

20200322 Utah Jobs

Utah’s nonfarm payroll employment for February 2020 grew by an estimated 2.9%, adding 44,300 jobs to the economy since February 2019. Utah’s current employment level registers 1,579,700. January’s year-over job growth has been minimally revised down to 2.8%. 

February’s seasonally-adjusted unemployment rate is estimated at 2.5%. Approximately 40,400 Utahns were unemployed and actively seeking work during February. The national unemployment rate lowered one-tenth of a percentage point to 3.5%. 

February’s employment profile is a strong bedrock for Utah’s economy as we turn our attention to the anticipated impacts of COVID-19” reported Mark Knold, Chief Economist at the Department of Workforce Services. “Across the past 10 years, the Utah economy has progressed to be in one of the healthiest and most enviable positions in the nation. Facing uture uncertainties from a position of such strength is a major advantage for Utah.” 

Utah’s private sector employment grew by 2.9% year-over with the addition of 36,700 positions. Seven of the 10 private-sector major industry groups measured in the establishment survey posted net job increases in February. The largest private-sector employment increases were in Leisure and Hospitality Services (12,800 jobs); Trade/Transportation/Utilities (6.400 jobs); and Construction (6,300 jobs). The fastest employment growth occurred in Leisure and Hospitality Services (8.5%); Construction (6.2%); and Other Services (5.1%). 

* Additional analysis and tables at https://jobs.utah.gov/wi/update/index.html