The Salt Lake Chamber’s Roadmap to Recovery Coalition, in partnership with the Kem C. Gardner Policy Institute, has updated the Economic Dashboard with current data for April, indicating where Utah sits in the overall recovery. Clear indicators show Utah climbing back from recession lows and heading into positive growth on several fronts. This comes at a time when The Wall Street Journal reports that Salt Lake City is the “hottest job market” in America.
“Utahns working together to protect one another and keep businesses open and safe, along with the rapid progress of vaccine distribution and adoption, have helped us rebound from the economic disruption caused by the pandemic,” said Derek Miller, president and CEO of the Salt Lake Chamber and Downtown Alliance. “Utah has made enormous strides to get our job change back to neutral, and from here we can build on the progress. Even The Wall Street Journal reports that as pent-up demand and commercial engagement are unleashed, our edge is only going to get sharper. So, now is the time to continue protecting each other and double down on efforts to train and reintegrate our workforce, tackle housing challenges and building the infrastructure to cement this recovery.”
Three essential insights from the April 2021 Roadmap to Recovery Dashboard include:
Statewide unemployment rate drops to 3.0%. Utah’s 3.0% unemployment rate nears pre-pandemic levels, marking the sixth consecutive month of decline.
Statewide change is neutral. After 11 consecutive months of decline, Utah’s job change stands at 0.0%, indicating job growth is likely coming soon!
Utah surpasses one million vaccine doses. More than one million vaccines had been administered, as of mid-March. The state’s COVID-19 cases have been declining or remaining steady for the last several weeks.
The Dashboard is updated regularly, providing essential insights that track 10 timely and leading measures that have served as pertinent indicators since the start of the pandemic. This allows leaders accurate information to make informed decisions.
“The progress we have made in under a year should astonish all of us who worked to keep our economy safe and open,” said Natalie Gochnour, director of the Kem C. Gardner Policy Institute. “The headwinds we faced were profound but the data now show we are reaching pre-pandemic levels and can begin to tackle the unevenness of the recovery. I am confident we are emerging stronger from this experience.”
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.