From Deseret News archives:
Utah economy looking bullish
FDIC points to job growth, housing market, low unemployment, more
The Federal Deposit Insurance Corp., which insures deposits at the nation's 8,790 banks and savings associations, reported in its Summer 2006 Profile that Utah is seeing good job growth, low unemployment, a resurgent technology sector and a strong housing market, as well as solid earnings among its insured financial institutions.
Among the report's findings:
• The tightening job market likely contributed to a rise in the state per capita income — $29,084 in the first quarter of 2006, up 5.8 percent from the year before.
• Employment in the tech sector increased, giving the second straight year-over-year gain since the dot-com bust of 2001. "Going forward, continued growth in the high-tech sector is likely to result in more high-paying jobs, expand venture capital investment and stimulate export opportunities for the state," the FDIC report said.
• Return on assets at Utah-based financial institutions insured by the FDIC were the highest in the nation, at 2.91 percent (median pre-tax).
