Utah sees slight uptick in October unemployment
Nov 17, 2023, 8:54 AM | Updated: 9:59 am
(Scott G. Winterton/Deseret News.)
SALT LAKE CITY — The October jobs report dropped Friday morning shows a slight increase in unemployment.
Utah’s unemployment rate ticked up one-tenth of one percentage-point last month, bringing it to 2.7% according to the Department of Workforce Services. Nationally, unemployment sits at 3.9%, according to the departments report.
“So this time of year, we’re not always surprised when we see unemployment jump up a little bit, because we’ve got that seasonal transition of jobs. And so that’s not shocking to see some movement there,” said McDonald.
“Our job growth is that 2.2%. And that means over the last year, we’ve added about 38,200 jobs into the market. So…it’s it’s a good report, because we’re still, 2.7% unemployment.”
McDonald noted there have been layoffs but coming out of the pandemic the job market was hot and things are beginning to cool.
“When things start slowing down a little bit…it kind of flips, and it’s now more favorable for the employer.”
MacDonald continued, “So what that means for someone who’s just been laid off or something, it means, [they’ve] got to kind of sharpen things up a little bit. You’re going to have to work a little bit harder than before to get that next job. And so it’s just kind of a shift of balance here.”
Leisure and hospitality services saw the biggest job gain with 11,500 jobs added.