Utah's overall job growth rate ranks 3rd in U.S., FDIC says

The Federal Deposit Insurance Corp. on Friday said Utah's overall job growth rate of 3.4 percent ranked it third nationally during the second quarter.

The FDIC State Profiles, a quarterly report analyzing economic and banking trends across the country, said Utah's growth was fueled by the business services and construction sectors. The state's rate was improved from a nationwide ranking of sixth a year ago.

The state profile indicates Salt Lake City's office vacancy and rental rate conditions improved, home prices rose moderately and home price appreciation lagged the national pace. Also, investor participation was strong and bankruptcy filings, while flat with a year ago, remain higher than the national per capita rate.

The FDIC Utah State Profile is available online at www.fdic.gov/bank/analytical/stateprofile/SanFrancisco/Ut/UT.pdf.