Utah Economy Keeps Shrinking


Salt Lake City – Utah’s nonfarm wage and salaried job count for January 2009, as generated by the United States Bureau of Labor Statistics, contracted by 1.6 percent. December’s previous employment profile of -1.9 percent has been revised upward by five-tenths to -1.4 percent. Approximately 20,400 jobs have been removed from the Utah economy over the past year, lowering total wage and salary employment to 1,224,100.

 

Utah’s other primary indicator of current labor market conditions, the seasonally adjusted unemployment rate, continued to rise, increasing to 4.6 percent in January. Last January, the state’s rate was 3.2 percent. Approximately 64,300 Utahns were considered unemployed in January 2009, compared against 43,400 last January, an increase of 20,900 unemployed workers.The United States unemployment rate also continued to rise, reaching 7.6 percent. Utah’s unemployment rate for December 2008 has been revised down to 4.1 percent.