Utah’s economy continues on a rapid course of expansion, posting strong numbers for March.New figures released today show total job growth of 4.0 percent while private-sector job growth is 4.8 percent.
“Today’s jobs report shows our approach to job creation is producing results,” said Gov. Gary R. Herbert. “Our commitment to supporting the success of the private market, keeping taxes low and consistent, setting sensible regulations, saving for a rainy day, and running a limited and efficient government have Utah leading as one of the strongest and most diverse economies in the nation.”
Utah’s unemployment rate of 3.4 percent remained more than two percentage points below the national rate of 5.5 percent. The Utah unemployment rate held constant from last month and the state’s labor force expanded at 2.5 percent, a pace unseen since the year 2013.
Job growth for March was well-balanced as eight of ten private sector industry groups experienced year-over employment gains. The largest additions to employment were in the supersector of Trade, Transportation and Utilities adding a total of 13,800 jobs. The fastest employment growth was seen in the Leisure and Hospitality industry at 6.8 percent.