20200823 Utah Unemployment

Utah’s nonfarm payroll employment for July 2020 contracted by an estimated 1.8%, with 27,500 jobs sidelined compared to the July 2019 employment. Utah’s current employment level registers 1,516,800. Utah’s June year-over job change has been revised up two-tenths of a percentage point to -2.6%. 

July’s seasonally-adjusted unemployment rate is estimated at 4.5%. Approximately 72,900 Utahns were unemployed during July. Utah’s June unemployment rate has been revised upward two-tenths of a percentage point to 5.3%. The national unemployment rate for July lowered to 10.2%. 

“July’s employment assessment is a third consecutive month of Utah employment improvement,” reported Mark Knold, Chief Economist at the Department of Workforce Services. “While the pace of job gains moderated a bit compared to the prior two months, the Utah economy is rebounding with vigor.” 

Utah’s private sector employment in July continued its path toward improvement, with the year-over setback lessening to -2.3%. Four of 10 private-sector major industry groups measured in the establishment survey posted net job gains in July, up from three in June. Primary gains are observed in Construction (7,900 jobs); Trade, Transportation and Utilities (3,900 jobs); and Financial Activities (3,000 jobs). Six industry groups posted employment declines. These were most impactful in Leisure and Hospitality Services (-30,000 jobs); Education and Healthcare (-6,800); and Professional and Business Services (-6,200 jobs). 

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

* County unemployment rates for July will be posted on or shortly after August 24, 2020, at https://jobs.utah.gov/wi/update/une/season.pdf

* August employment information will be released at 7:00 a.m. on Friday, September 18, 2020.