From Deseret News archives:
Utah's business conditions get boost
The Zions Bank Small Business Conditions Index for Utah was 108.6 in October, up from a revised 106.6 in September.
The index measures business conditions from the viewpoint of a Utah small-business owner or manager. It uses 100.0 for calendar year 1997 as its base, and a higher number is associated with more favorable business conditions.
Utah's unemployment rate, the most heavily weighted element of the index, was at 2.7 percent in October, up from 2.6 percent the previous month and identical to the same month a year earlier. A higher unemployment rate is considered a positive in the index because it implies increased access to Utah labor.
Utah also is benefiting from an overall strong national economy, according to Jeff Thredgold, president of Salt Lake-based Thredgold Economic Associates, economic consultant to Zions Bank and author of the report.
Utah's unemployment rate of 2.7 percent compares with 2.9 percent in 2006, 4.3 percent in 2005, 5.1 percent in 2004 and 5.7 percent in 2003. The average rate was 3.5 percent between 1995 and 1999.
The state also added an estimated 53,500 jobs during the past year. "The 4.4 percent rise is one of the strongest annualized Utah gains in more than 10 years, and is the strongest job growth rate in the nation," Thredgold wrote, adding that the state gained 54,000 jobs in the prior year.
The nation added 166,000 net jobs in October, and the national unemployment rate remained at a 14-month high of 4.7 percent.
Thredgold noted that most forecasts for national GDP growth in the current quarter have it at a 1.5 percent to 2.2 percent real annual rate. "The consensus view has the economy also avoiding recession in 2008, with modest growth near a 2.0 percent real annual rate during the first quarter approaching a 2.8 percent to 3.0 percent real growth pace by the end of 2008," he wrote.
"We continue to suggest only a 25 percent chance of a U.S. recession during the next 12 months."
E-mail: bwallace@desnews.com
Comments
- Two American pilots die in Iraq 12:47 a.m.
- Murder suspect is vetran, avid skier 12:47 a.m.
- MLB: Zambrano's mom kidnapped 12:32 a.m.
- Lambert surprisingly tops news 12:25 a.m.
- Philadelphia transit strike ends 12:25 a.m.
- TCU 4th in AP poll; U. 16th, Y. 22nd 12:24 a.m.
- 12 high schools ready for 'The Turf' 12:17 a.m.
- RSL unfazed by conference final 12:17 a.m.
- Korver and Miles to be evaluated 12:17 a.m.
- Today on TV 12:13 a.m.
- Gay advocates trek to LDS office
216 - House passes health care bill
202 - Lobo suspended
173 - Cougars crush hapless Cowboys
151 - Utah Jazz fall apart against Kings
129 - RSL rallies to advance
103 - Thousands protest health bill
103 - Provo company innovating engines
102 - Utes pound winless Lobos
89 - BYU cuts Women's Research Institute
88
Once again we see a young player who signs for guaranteed $ millions and...
Proigram Worked for you, but did not work for me. I would have preferred...
The Obama depression is coming our way. Impeach the fool before he destroys...
At least you can continue preaching to the choir here at Des News. Never...
My candidate won, YOURS LOST! The American people voted for a President who...
this comes across as written by someone who lives their whole life based on...
I'm more worried about who the Jazz will pick with their own lottery pick...
Why would they walk over them? Why didn't they just walk around them?
About as funny as eight years with GWB, Cheney, Rove and the boys. Hopefully...
I actually think you have the most reasonable argument and prediction on...


You can be the first to comment on this story.