Utah’s unemployment drops to 5-year low
March 7, 2014
The latest jobs report shows Utah’s unemployment rate has dropped below four percent for the first time in over five years.
Gov. Gary Herbert was joined by business leaders from a broad spectrum of industries today as he discussed the keys to Utah’s economic success. The state’s unemployment rate is now 3.9 percent thanks to a solid 2.8 percent job growth rate. Nearly every industry in Utah is growing as some 35,000 jobs have been added in the past 12 months.
The governor emphasized that government needs to create an environment for business to succeed. That effort is critical to achieving the governor’s goal of creating 100,000 jobs in 1,000 days. Utah has created some 70,000 jobs so far toward that goal, putting us ahead of pace.
“Today’s jobs report is good news for our state and no one is happier about it than those of us in the private sector,” said Scott Parson, who served as chair of the Salt Lake Chamber, the state’s largest business association during the recovery. He employs nearly 2,000 people in Utah. “Gov. Herbert has kept us moving forward in these key areas and the results are showing up again and again in our economic data.”
The governor also emphasized that he recognizes there is still work to do. He specifically mentioned the 56,000 Utahns who are still looking for work and unable to find a job.
“Even with today’s good news, I have not forgotten that we still have too many Utahns who are out of work,” said the governor. “We still have important work to do.”