From Deseret News archives:
Utah jobless rate sinks
The seasonally adjusted rate was down from a revised 4.8 percent in March, the department said. About 53,500 Utahns were unemployed last month, while 68,500 were without work in April 2003, when the unemployment rate was 5.8 percent.
The year-over increase in nonfarm wage and salaried jobs of 1.5 percent "continues the momentum of employment gains that began in earnest in December," said Raylene Ireland, department director, in a prepared statement. "It's quite encouraging to see employment gains in nearly all industries, including manufacturing. That's a reversal from its rough ride of the past three years."
Utah's employment growth is better than the national uptick of the last few months. The national unemployment rate, announced earlier this month, fell to 5.6 percent in April from 5.7 percent in March as the economy created 288,000 new jobs.
Mark Knold, senior economist for the Utah Department of Workforce Services, said he thinks the state will continue to do better than the nation as a whole.
"Population growth is an economic driver. With our high birth rates and decent in-migration . . . that seems to push us a little bit ahead of the national performance."
The Utah department said Tuesday that the state last experienced employment gains of the current magnitude in 2001. And while the gains are welcome, the department said, they do not match Utah's long-term history of producing 2.5 percent gains or higher.
"This is what I expected," Knold said. "I thought we would continue to just keep steadily trending upward one or two percentage points at a time. I'm anticipating getting to 1.6 (percent) or 1.7 (percent job growth) next month."
He said such growth should continue as the year progresses, and the chance that it "could produce employment gains around 2.5 percent in Utah next year is still a good, but not a sure, bet."
"There are some troubling indicators that could undermine the economy's strength, though, like rising oil prices and a falling stock market," Knold said. "Both of these events could take their toll if they develop into long-term issues. High energy costs have too often been a trigger for economic downturns. It would be a shame if the current economic rebound lost its punch because of high energy costs."
Comments
- Alpine school wins PTA arts grant 8:41 p.m.
- Celtics crush Jazz 8:26 p.m.
- Swift, Rucker win early CMAs 8:24 p.m.
- Duchesne gets rematch vs. Rich 8:24 p.m.
- Car crash victim in Lehi lifeflighted 8:21 p.m.
- TCU in good hands with Dalton 8:21 p.m.
- Drug trafficking operation busted 8:19 p.m.
- Bye came at good time for Weber 8:17 p.m.
- MWC focus is on Utes, Frogs 8:13 p.m.
- RSL to face Fire's Blanco 8:10 p.m.
- SLC council OKs gay rights policies
- Utah Jazz have a problem at point
- 'Love story' of crash victim ends
- BYU football recruit turning heads
- Alta's Ohai is Ms. Soccer 2009
- Prep football: Felt's Facts Week
- 12 Utes return to Texas
- Cougars' defensive hoops clinic
- Wyoming writer amazed by BYU
- Gays get Mormon support in SLC
- House passes health care bill
283 - SLC council OKs gay rights policies
238 - TCU showdown has big implications
193 - Senators want food tax restored
157 - Cougars crush hapless Cowboys
155 - Utah Jazz fall apart against Kings
131 - TCU 4th in AP poll; U. 16th, Y. 22nd
119 - S.L. vote pending on gay protections
109 - No 'backlash' for pioneers, gays analogy
108 - Pratt pleads not guilty to sex charges
100
Maybe someone out there can help me understand how raising the state...
UNC is the only place for a player like Ohai. That's like asking a football...
Do you think getting holes drilled into their heads is proper treatment for...
I watched CNN during and after the Gulf War and the invasion of Iraq and...
I know these comments don't make a difference to the kids but anybody calling...
It's soccer. Why does everyone have to make everything a religion issue?
So got what is deserved. DWill was not ready. No chance .
This man has covered 42 years of WYOMING football and this byu team is the...
Ah, poor utes. Just like the team from provo made their own version of the...
2003 HUNTER WOLVERINES, 14-0, dominated all opponents. Notable Players: ...
Dear Cindy and family, I send my thoughts and prayers to be with you at the...



You can be the first to comment on this story.