Utah's economy is holding steady, the pedal very near the floor.

The state's unemployment rate crept slightly higher in March to 2.4 percent from February's 2.3 percent, according to a report released Tuesday by the Utah Department of Workforce Services.

"What's a tick here and there when you're dealing with an unemployment rate that's this low?" asked Mark Knold, the department's chief economist. "When you get below 3.5 percent ... everything there on down has pretty much the same influence on the economy: You have a very fully employed labor force. You have a situation where the business community is going to start being very aggressive with wages, to try and lure new workers in."

About 31,500 people in Utah were jobless in March, compared to 40,500 in March 2006, the department reported.

Meanwhile, total employment — the number of non-farm wage and salaried jobs — grew by 4.5 percent over the last 12 months, up 0.1 percentage point from the prior year-over period. About 53,500 new jobs were created in the Utah economy during the last year.

The construction sector again proved to be the leader, adding 13,500 jobs during the March year-over period. Trade, transportation and utilities were a distant second, adding 9,300 jobs, while the professional and business services sector followed, adding 8,300 jobs. The information sector trailed far, far behind, adding 200 jobs during the last 12 months.

The department's March report also included an analysis of growth according to metropolitan region, as designated by the U.S. Census Bureau. The Salt Lake metro area (which includes Salt Lake, Tooele and Summit counties) was the largest, comprising 51 percent of the state's employment. The region is growing at 4.5 percent, Knold reported.

The Ogden-Clearfield area, including Davis, Morgan and Weber counties, was next, comprising 16 percent of the state's economy. It reported 3 percent growth during the past 12 months. Provo-Orem, which includes Utah and Juab counties, reported 5.7 percent growth during the past year. It makes up 15 percent of total employment.

St. George, which had been red-hot for the past several years, is showing signs of cooling at 5.5 percent growth, Knold reported.

Utah's ultra-low unemployment rate, coupled with still-brisk job creation, means one thing, according to Knold: in-migration. People, foreign and domestic, are moving to Utah, Knold said, wooed at least in part by rising wages.

During the last year, Utah has logged 5.2 percent wage growth, Knold said, the strongest the state has seen in the last 15 years.

"These rising wages are the attraction that really seems to be working in getting the large amount of in-migration that this kind of growth rate demands," he said. "It just shows that the market is working. It's responding to the situation."

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E-mail: jnii@desnews.com