The other major factor in the Zions index, Utah's total employment, rose by about 41,200 jobs over the past 12 months. At 3.6 percent, Utah's employment growth rate is the fourth-strongest in the nation, Thredgold wrote in the Zions report. Job gains have a positive impact on the index, because they imply greater income creation and increased spending.

Utah saw job growth across the 11 employment sectors measured by the state, Thredgold said. Of special interest, however, is the higher rate of growth in higher-paying sectors — construction, professional and business services, natural resources and health care — compared to slower growth in industries typically associated with lower-paying jobs, such as retail and hospitality.

"So, we're adding jobs, and they're good jobs, which is a nice position to be in," Thredgold said.

However, though 2006 should prove another strong year for Utah and the United States, Thredgold said it likely won't be as robust as 2005.

"One of the reasons we don't see Utah's job growth in 2006 to be as strong as in 2005 is in part because of tightening labor markets," he said. "The U.S. and global economies are slowing a little bit, and tight labor markets in Utah will suggest less job growth than in 2005."

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