Utah job growth continues upward trend

Utah’s nonfarm payroll employment for October grew by an estimated 3.3 percent, adding 51,200 jobs to the economy since October 2018. Utah’s current employment level registers 1,593,200. September’s year-over job growth is unrevised at 3 percent, according to the State of Utah Workforce Services.

October’s seasonally adjusted unemployment rate lowered two-tenths of a percentage point to 2.5 percent. Approximately 41,000 Utahns were unemployed and actively seeking work during October. The national unemployment rate rose one-tenth of a percentage point to 3.6 percent.

“October is the springboard month for the upcoming holiday shopping season,” reported Mark Knold, chief economist at the Department of Workforce Services. “October’s profile helps gauge the consumer’s stance entering this important economic period.”

Utah’s private sector employment grew by 3.7 percent year-over with the addition of 47,400 positions. Once again, all 10 of the private sector major industry groups measured in the establishment survey posted net job increases in October.

The largest private sector employment increases were in Professional and Business Services (11,000 jobs); Education and Health Services (9,600 jobs); and Construction (6,900 jobs). The fastest employment growth occurred in Construction (6.4 percent); Information (5.1 percent); and Professional and Business Services (5.1 percent).