BUSINESS + ECONOMY

Utah’s jobs report stays steady for February

Mar 24, 2023, 8:25 AM | Updated: 8:28 am

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FILE: A sign advertising for jobs sits along the roadside outside a FedEx location in Zionsville, Ind., Thursday, April 2, 2020. Photo credit: Michael Conroy, Associated Press

SALT LAKE CITY– The Utah Department of Workforce Services released the February jobs report on Friday morning. 

In the past 12 months, job rates increased an estimated 2.8%. Additionally, the state added a cumulative 46,000 jobs since February 2022. Utah’s current job count stands at 1,701,000.

February’s seasonally-adjusted unemployment rate is estimated at 2.4%. Approximately 42,300 Utahns are unemployed, which is down slightly from last month.  The February national unemployment rate moved upward to 3.6%.

The Department of Workforce Services Deputy Director, Nate McDonald joined KSL’S Utah Morning News to discuss the report. He said there were little changes from the month before. 

 

“Towards the end of the year we saw the tech sector having some layoffs,” McDonald said. “Over the last two months, that sector has actually bounced back.”

McDonald also said our service sector was doing well, being our highest growing sector. 

In the private sector, employment recorded a year-over-year expansion of 2.9% or a 40,000 job increase. Nine of ten major private-sector industry groups posted net year-over-year job gains, led by Leisure and Hospitality Services (9,400 jobs); Education and Health Services (8,600 jobs); Construction (6,900 jobs); and Professional and Business Services (6,200 jobs).

The only sector with an over-the-year employment contraction is Financial Activities (-2,200 jobs).

Related: Utah’s employment rate sees slight increase

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Utah’s jobs report stays steady for February