New report: Regarding jobs & the economy, Utahns are most worried about paychecks

The Utah Foundation has release the fourth in a series of Utah Priorities Project briefs looking at Utah voters’ top concerns. Jobs and the economy ranked fourth in July, rising from 12th at the beginning of March. The increase in concern is largely driven by the national economic crisis.

When drilling down into specific aspects of the economy, more than half of Utah voters prioritized earning enough to support their families. Around a quarter of Utah voters prioritized pandemic-related work restrictions. Utah’s unemployment rate spiked in April, but since then has dropped below its long-term average and is now the second lowest in the nation.

While the pandemic has created additional hurdles for the economy, Utah consumers have continued spending. However, some industries have gained at the expense of others. For example, $700 million from the second quarter 2020 has shifted from accommodation, restaurant and clothing industries to online retailers. Additional benefiting industries include motor vehicles, building and garden supplies, and grocery and general merchandise stores.
“While Utah has weathered the economic crisis well, it’s important to remember that some Utahns have taken hard hits,” Utah Foundation President Peter Reichard said. “For those who have lost jobs or wages, this may be a moment to rethink their careers or upskill to take advantage of the quality job opportunities out there.”

Read the full report HERE.