Strong job growth rankings reflect Utah’s nationally recognized fundamentals
October 26, 2015
SALT LAKE CITY (Oct. 26, 2015) – Utah posted the highest job growth rate in the nation for private and total job growth for the eighth consecutive month. According to the rankings released this month, Utah posted private sector growth at 4.4 percent and total sector job growth at 3.9 percent for the month of September.
“Great things are happening in Utah,” said Gov. Herbert. “The state’s fundamentals are strong and our future is bright. Last week, the U.S. Chamber of Commerce announced Utah is the â€˜most fundamentally sound state’ in the nation. In addition, Utah was given an A+ grade in financial literacy for our public schools. Our productive, prepared, and skilled labor force explains why we have such a fundamentally sound economy.”
Here is how Utah compares with the rest of the nation:
- Utah ranked first in year-over private sector job growth at 4.4 percent. Idaho ranked second at 3.6 percent followed by South Carolina at 3.5 percent and Florida at 3.5 percent.
- Utah ranked first in the nation for year-over total job growth at 3.9 percent. Idaho ranked second at 3.2 percent, South Carolina is third at 3.1 percent, followed by Florida at 3 percent.
- Utah has the sixth lowest unemployment rate in the nation at 3.6 percent.
Utah’s employment rate of 3.6 percent is well below the national rate of 5.1 percent. Nine of ten private sector industry groups posted net increases with the largest increases in Education and Health Services, Professional and Business Services, and Leisure and Hospitality.