Utah EconomicReport

Governor’s Economic CouncilOctober 11, 2012

Utah Economic Peak and Trough

Peak Sept. 20081,261,819 jobs

Trough June 20101,159,150 jobs

Job loss 102,669 jobs

Source: Utah Department of Workforce Services and Bureau of Labor Statistics

Utah Jobs Reach Pre-Recession PeakUtah job count

1,100,000

1,120,000

1,140,000

1,160,000

1,180,000

1,200,000

1,220,000

1,240,000

1,260,000

1,280,000 Pre-recession peak Nearly back to peak

Trough

Source: Utah Department of Workforce Services and Bureau of Labor Statistics

Utah Job GrowthMonthly Year-Over Percent Change

-7.0%

-5.0%

-3.0%

-1.0%

1.0%

3.0%

5.0%

-0.1%-0.1%

-0.7%

-1.8%

-2.3%

-3.3%

-4.1%

-4.6%

-5.2%-5.4%

-5.7%-6.0%

-6.2%-5.9%

-5.4%

-4.9%-4.5%

-3.7%

-3.1%

-2.3%

-1.1%

-0.5%-0.3%

0.2%0.3%0.4%0.8%

1.0%1.2%

1.7%2.0%1.9%

2.1%1.8%

2.1%2.4%

2.6%2.8%

2.6%2.6%2.8%2.8%

3.0%3.2%

3.0%

3.6%3.6%

Source: Utah Department of Workforce Services and Bureau of Labor Statistics

Utah Job GrowthOriginal and revised year-over growth

Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-120.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

4.0%

2.8%

3.0% 3.2% 3.0%

3.6% 3.6%

2.6% 2.5%2.3%

1.9%

2.3%

2.6%

1.9% 2.0%

Revised data

Original estimates

Historical average

Source: Utah Department of Workforce Services and Bureau of Labor Statistics

Fastest Growing Economies

Source: Bureau of Labor Statistics

Job growth August 2011 – August 2012

Utah

Wyoming

Louisianna

Arizona

Texas

Oklahoma

North Dakota

0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0%

2.0%

2.0%

2.2%

2.3%

2.5%

2.9%

6.7%

Year-Over Percent Change

Utah has the seventhfastest growingeconomy in the country

Utah Job Growth by IndustryAugust 2012

Government

Other Services

Leisure and Hospitality

Education and Health

Prof. and Business

Financial Activities

Information

Trade, Trans, Utilities

Manufacturing

Construction

Natural Resources

Total

0 1 2 3 4 5 6 7

1.1

2.3

1.0

1.6

4.4

3.3

5.7

0.5

3.1

1.2

6.7

2.0Chart Title

Year-Over Percent Change

Source: Utah Department of Workforce Services

Fastest Growing Economies in UtahAugust 2011–2012

Cache

Weber

Salt Lake

Davis

Utah

Sanpete

Grand

Washington

Uintah

Duchesne

Total

0 1 2 3 4 5 6 7 8

1.6

1.6

3.2

3.3

3.4

3.6

3.6

4.8

5.1

8

2Chart Title

Year-Over Percent Change in Jobs

Source: Utah Department of Workforce Services