Report: Utah leading nation in job-growth rate

Utah's job picture continues to outshine that of any other state in the nation, according to a report released Tuesday by the state Department of Workforce Services.

The state's 4.5 percent job growth in June ranks highest in the nation, well above Arizona's second-place 3.4 percent.

"We're standing that far alone, so to speak, in terms of our economy versus the economy of the rest of the independent states," said Mark Knold, the department's senior economist.

Utah's June unemployment rate — 2.6 percent — also is well below the national average of 4.5 percent.

Each month, Workforce Services releases its snapshot of the state's current employment situation. Tuesday's numbers are similar to those the department has seen all year, a trend that is expected to continue at least through December and perhaps into 2008.

"I don't see anything knocking us off track right now," Knold said. "It's hard to envision anything that's going to say, 'You can't keep doing this for the rest of this year.'"

The best thing Utah has going for it right now is a weak U.S. economy, which is driving employers and workers to Utah, he said.

Steady job growth in the state means Utah has added about 55,000 new jobs during the last year year, or some 4,600 new positions each month in nonfarm wage and salaried jobs. The majority of the growth continues to be in construction, but employment in the trade, transportation and utilities sector has started to make a surge, according to the report.

The job-growth rate is good news for Utah workers, whose services are at a premium, Knold said.

"This is an absolute seller's market. ... When the unemployment is this low, it just means that there isn't this vast reserve of unemployed workers out there."

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E-mail: awelling@desnews.com