The Salt Lake Chamber’s Roadmap to Recovery Coalition, in partnership with the Kem C. Gardner Policy Institute, has updated the Economic Dashboard for July to help business leaders know where Utah sits in the overall recovery. This tool tracks the state’s path to a complete economic recovery from the pandemic recession and provides context for decision-makers.
In the future, the dashboard will shift focus toward removing obstacles to prosperity for Utahns. This revised dashboard will be called the Roadmap to Prosperity, to reflect the state’s successful recovery from the pandemic recession and continued trajectory towards economic prosperity.
“Utah sits at the top of the mountain in terms of economic growth and stabilization,” said Derek Miller, president and CEO of the Salt Lake Chamber and Downtown Alliance. “Even after a tremendous economic shock, the state leads national trends on almost all measures. Therefore we must turn our focus to the challenges associated with booming growth, in addition to recalibrating our metrics to include natural resources strain, inflation metrics, vaccination rates, and tourism returning. I could not be more excited with our relative position, and now is the time to innovate and defend that position of strength.”
Three essential insights from the July 2021 Roadmap to Prosperity Dashboard include:
Utah ranks 2nd for two-year job growth. Utah’s 2-year job growth of 2.5% ranks second highest in the nation. Utah is one of only two states to see growth by this metric, all other states still suffer job losses.
Utah air travel spikes. May 2021 shows a significant spike in air travel with more than 2.0 million passengers. This mirrors pre-pandemic levels with 2.1 million passengers in February 2020.
More than half of eligible Utahns are fully vaccinated. As of June 24th, 52.2% of Utahns age 12+ were fully vaccinated with more than 60% having received at least one dose. State leaders continue to work toward a goal of vaccinating 70% of adults by July 4th.
The Dashboard is updated consistently, providing essential insights, tracking 10 timely and leading measures, and sharing pertinent indicators since the start of the pandemic. This provides leaders with critical and timely information to make informed decisions. Again, the Coalition will adapt to the new economic reality and focus on charting our way towards prosperity.
“Key economic indicators highlight Utah’s strong and continued recovery from the pandemic recession,” said Natalie Gochnour, director of the Kem C. Gardner Policy Institute. “Increased job growth and sharp increases in air travel over the summer holiday season are positive news for Utah’s rebounding tourism industry. As we work to fully vaccinate our population, Utah remains favorably positioned to build on our economic strengths and create lasting opportunities for all Utahns.
The Roadmap to Recovery Coalition is a business-led coalition, supported by the Salt Lake Chamber, focused on implementing and promoting our economic recovery. The Coalition is co-chaired by Mikelle Moore, SVP and Chief Community Health Officer, Intermountain Healthcare, and Scott Parson, CEO, Staker Parson Materials & Construction. Investors of the Coalition include Mountain America Credit Union, WCF Insurance, Clark and Christine Ivory Foundation, Deseret Management Corporation, Intermountain Healthcare, Staker Parson Materials & Construction, and Rio Tinto Kennecott.