All that's missing, it seems, is Jack Nicholson.

A report released Tuesday confirms that Utah's economy right now is "as good as it gets," and the future looks just as bright.

The Zions Bank report touts continued low unemployment, healthy job growth and blue sky on the horizon, backing up Gov. Jon Huntsman Jr.'s assertion that Utah's economy is "the hottest in the nation."

"That's what the numbers show. We've got the number one housing market. We've got the number one job creation market. So life is good at the moment," said Jeff Thredgold, president of Thredgold Economic Associates and economic consultant to Zions Bank.

The bank's Small Business Index, a measure of business conditions from the viewpoint of the small-business owner or manager, was up to 104.9 in April from a revised 104.5 in March.

The index uses 100 for calendar year 1997 as its base and includes revisions to various historical or forecast components as they become available. A higher figure is associated with favorable business conditions.

Utah's jobless rate, the most heavily weighted component of the index, was estimated at 2.4 percent in March, the most recent data available, up from 2.3 percent in the prior month. A higher unemployment rate is a positive contributor to the index, because it implies greater access to labor.

Another factor in the index, total employment, rose by about 53,500 jobs over the past 12 months, a 4.5 percent increase, Thredgold reported. That gain had a positive effect on the index, because it suggests better income creation and stronger retail spending.

"The issues we've been talking about for the past few years, of tight labor markets, have just become more serious issues," Thredgold said. "The fact that job growth is very strong is obviously very good news.

"There are 11 major employment sectors in Utah, and all 11 are adding jobs. So it's not just the lower-skilled, lower-wage jobs. It's higher-end jobs in engineering, in architecture, accounting, financial services and law. Construction is still very strong. And as we see, potentially, some slowdown in the single housing construction side, we see these huge commercial products that will keep people busy for a long time."

There are also other, broader indications that Utah's economic future is bright, Thredgold said.

"I don't really see anything on the horizon that's going to blow us out of the water," he said. "The U.S. economy is likely to get modestly stronger as we go further into 2007 and into 2008. That will help the regional economy, which is the strongest region in the country. The global economy is doing extremely well, which provides opportunities for Utah companies to sell products around the world, and invites people from around the world with money to spend to come to this country, this region and this state.

"In terms of economic performance right now, it's about as good as it gets."

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E-mail: jnii@desnews.com