Utah jobless rate just 2.5% in January

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SALT LAKE CITY — Utah’s unemployment rate continues to register at historically low levels.

The Utah Department of Workforce Services on Wednesday reported that January’s seasonally adjusted unemployment rate was estimated at 2.5%. Utah’s nonfarm payroll employment for the month grew by nearly 3%, with the economy adding 44,900 jobs since January 2019.

The national unemployment rate remained unchanged at 3.5%.

The state’s current employment level registered at 1,568,600, while approximately 40,000 Utahns were unemployed and actively seeking work during January, the report states. Year-over-year private sector employment for the month rose by 3.0% with the addition of 38,300 new positions.

Meanwhile, eight of the 10 private-sector major industry groups measured in the establishment survey posted net job increases in January, with the biggest gains coming in leisure and hospitality services, which added 11,100 jobs; education and health services adding 7,900 new positions; with construction bringing on 7,400 new workers.

The greatest employment growth was in leisure and hospitality services — up 7.5%, with construction climbing 7.3% and information increasing 7.1%.

“Utah begins 2020 on a solid economic foundation and Utah’s job market remains vibrant,” said Department of Workforce Services chief economist Mark Knold. “Job postings are plentiful. Employers are aggressively seeking labor. This is a Utah labor market hitting its maximum stride.”

from Deseret News https://ift.tt/39njFlW