UTAH

August unemployment rate holds at 2%

Sep 16, 2022, 7:46 AM

FILE - A hiring sign is in front of a Target store in Manchester, Conn., Nov. 39, 2021. (AP Photo/T...

FILE - A hiring sign is in front of a Target store in Manchester, Conn., Nov. 39, 2021. (AP Photo/Ted Shaffrey)

(AP Photo/Ted Shaffrey)

SALT LAKE CITY — The Utah Department of Workforce Services released the August jobs report on Friday morning. The unemployment for the state holds steady at 2%. The national rate went up slightly from 3.5% to 3.7%. 

Utah gained 54,400 jobs in the past 12 months, with a current total job count of 1,673,200. 

Mark Knold, Chief Economist at the Department of Workforce Services said this indicates hiring remained strong both nationally and locally

“This month’s economic data continues to hold strong in the face of national dialogue about inflation and other economic hurdles,” said Mark Knold.

“The national unemployment rate moved up a little, but when said rates are as low as they currently are, small upward movements are not viewed as a concern. Utah’s rate remained unchanged at 2.0%. This is the fourth straight month that Utah’s unemployment rate has been at 2.0%,” Knold said. 

Industries with job growth

Utah’s July private sector employment recorded a year-over-year expansion of 3.7%, or 56,600 job increase.  The industries with the largest gains included, trade, transportation, utilities, leisure and hospitality, education and health services and construction. 

The two sectors with job losses include financial activities, professional and business Services.

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August unemployment rate holds at 2%