Utah job growth booming

"This is a group ranging from 20 to 35 years of age," the report said. "They are now, and will be over the next 10 years, forming families and households. In turn, this activity will continue to put a high demand on housing construction here in Utah."

Homebuilding in Utah ended 2005 at a record level, with more residential permits issued than in any other year in the state's history, according to the University of Utah's Bureau of Economic and Business Research. Residential valuation in 2005 reached $4.7 billion, a 31 percent increase over $3.6 billion in 2004.

At 11,600 jobs, the professional and business services sector ranked No. 2 in the most jobs created over the past year. The trade, transportation and utilities sector came in third with 7,600 new jobs.

Utah's job growth rate continues to rank within the top five states nationwide, the report said. The last time Utah experienced an employment growth rate in the mid-4 percent range was in early 1997.

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