Utah's job outlook grim
'09 losses will be worse than in other U.S. areas, economic consultants say
Utah will be among the harder-hit states in terms of job losses in 2009, according to a grim prediction from economic consulting firm Moody's Economy.com, which says every state and 95 percent of the nation's metropolitan areas will end 2009 with fewer jobs than at the year's beginning.
The report says Utah will lose 31,016 — or 2.5 percent — of its jobs. In only 13 states is the projection worse.
The pain exists to some degree everywhere, so people who lose jobs in one state won't simply be able to relocate to find work. That lack of mobility will make it harder to pull out of the downturn, say economists at Moody's Economy.com, Wachovia and others. Education and health services and government are the only sectors expected to add jobs.
The prediction for Utah is "in the ballpark" with local projections, says Mark Knold, chief economist in Utah's Department of Workforce Services. "We have it at about 2.3 percent (of jobs lost) across all sectors, led by construction."
So far, many of the jobs already lost in Utah have come from the housing-construction sector, he says, but that's fallen about as far as the experts believe it will go, with close to 13,000 jobs lost. Not so with non-residential construction, which is expected to be well off the 2007-2008 peak in dollar value, which reached $2.1 billion and is likely this year to be only $1.6 billion.
Utah Gov. Jon Huntsman Jr. has said he wants to see roads projects finished. That would stop some job losses, but will not change the projections, Knold says. And while folks are hoping that a new economic-stimulus plan will jump-start the economy, Knold says the effects won't be felt for at least the next few months.
Things that make a difference quickly don't last long, and those that do take time to be felt. "If you put a lot into rebuilding roads, rail lines and infrastructure things, that takes time to work into the system. But once you do them, they are incredible assets to the economy that give back for years and years and years," he says.
Even if the stimulus package — which contains some tax cuts, money to bolster key government programs like unemployment, Medicaid and Medicare and new jobs building infrastructure — passed this week, Knold says, "it will take a couple of months before it starts to have a ripple effect through the economy. We're living now on decisions made two or three months ago — and no decisions were made then."
Recent comments
the Hate State losing jobs.....what a pity
mark | Feb. 10, 2009 at 11:02 p.m.
As a Worker in Utah, times are really getting tough!
Where I work,...
Utah Worker | Feb. 10, 2009 at 9:05 p.m.
Did anyone show Rep. Neil Hansen, D-Ogden this information before he...
Tell This to Your Legislator | Feb. 10, 2009 at 4:22 p.m.
- Police link alcohol to murder 10:50 p.m.
- Obama and family relax 10:48 p.m.
- Obama trumpets Asia trip 10:48 p.m.
- Former BYU professor remembered 10:47 p.m.
- Do you remember 11/22/63? 10:46 p.m.
- Real Salt Lake game at a glance 10:44 p.m.
- Jazz used to playing, winning 10:42 p.m.
- Photos: O Christmas tree 10:37 p.m.
- Bad month in Afghanistan ripples 10:36 p.m.
- Hatch, Bennett oppose health bill 10:26 p.m.
- Glenn Beck to enter politics?
- Can BYU throw vs. Air Force?
- Cougars cruise to victory in Hawaii
- Huntsman blasts media over trip
- Christian leaders not backing down
- Police link alcohol to murder
- TCU still has a chance
- Orem man acquitted in tot's death
- Religion cited in deportation fight
- Hall breaks BYU record with win
- Buttars wants to limit gay rights laws
192 - Palin plans tour stop in Utah
173 - Palin's book shows she's unqualified
122 - Glenn Beck to enter politics?
112 - Officer cleared in Cardall Taser case
103 - BYU cuts Women's Research Inst.
100 - Jazz finally win in San Antonio
98 - Utes knock off rival Aggies
93 - Hall breaks BYU record with win
91 - Huntsman pleased with Obama
87
There's a lot of reason to leave your plastic home as you shop:
I don't pretend to be an expert on global warming. I've met with...
Wouldn't it be great if there could be an LDS chapel "off-base" in Iraq, just...
You should re-read your statement because I don't think anyone has any idea...
Bronco will finally allow BYU to run up the score on someone, and that being...
These poor caged animals deserve the best of everything on Thanksgiving to...
Read the Constitution, the federalist papers, and the writings of the...
"speed kills" BYU scored 24 points IN THE FIRST HALF against Air Force...
Where was Beck and the rest of the FOX (joke) News Clown Squad when we were...
You pro-choice people never address the central question: What about the...
He's great as a defensive coordinator but has no skills as a head coach....
Wake up 6:43 One day you will not wake up. Then what? You might discover...

