EMPLOYMENT QUICK FACTS December 2017

JOBS ADDED: 148,000

EMPLOYMENT GROWTH: 1.4%

UNEMPLOYMENT: 4.1%

Sources: Bureau of Labor Statistics

MOST INDUSTRIES SEEING JOB GROWTH

December 2016 - December 2017

INDUSTRY12-Month

Total Change12-Month% Change

Natural Resources & Mining 59,000 8.8%

Construction 210,000 3.1%

Manufacturing 196,000 1.7%

Trade, Trans., Utilities 74,000 0.3%

Information -40,000 -1.4%

Financial Activities 134,000 1.6%

Professional & Business Services 527,000 2.6%

Education & Health Services 438,000 1.9%

Leisure & Hospitality 306,000 1.9%

Other Services 109,000 1.9%

Government 42,000 0.2%

Source: Bureau of Labor Statistics

Target Effective Federal Funds Rate (Jan. 9, 2018)1.25%-1.50%

Prime Rate (Jan. 9, 2018) 4.50%

10 Year U.S. Treasury (As of Jan. 9, 2018) 2.54%

30 Year Mortgage Rate Fixed (As of Jan. 9, 2018) 3.94%

Personal Consumption Expenditures Change (November 2016 - November 2017)

+1.8%

Consumer Price Index Change(November 2016 - November 2017)

+2.2%

Producer Price Index (Nov. 2016 - Nov. 2017) +3.1%

Sources: U.S. Federal Reserve, Wall Street Journal, Bureau of Economic Analysis, Bureau of Labor Statistics

UNEMPLOYMENT REMAINS AT 17-YEAR LOW OF 4.1%December 2017

INTEREST RATES AND INFLATION

UNITED STATES JAN 2018

Source: Bureau of Labor StatisticsNote: Shaded area represents recession

Source: Bureau of Labor Statistics

THE U.S. ADDED 2.1 MILLION JOBS IN 2017December 2017

The United States labor market added 148,000 jobs in December, bringing the total number of jobs added in 2017 to 2.1 million. The professional and business services; education and health services; and leisure and hospitality sectors added the largest number of jobs over the past 12 months. The natural resources and mining sector had the largest percent increase at 8.8 percent, and the manufacturing sector grew by 196,000 jobs after suffering losses in 2016. The only sector to experience job losses over the past year was information, which lost 40,000 jobs. The unemployment rate ended 2017 at 4.1 percent. From 2016 - 2017, the nation’s population grew by 2.3 million, or 0.7 percent, to 325.7 million. The consumer confidence index, which hit a 17-year high in November, fell slightly to 122.1 in December.

ROBERT SPENDLOVEEconomic and Public Policy Officer

Contact our team for more information or to schedule a speaking engagement.

robert.spendlove@zionsbank.com (801) 560-5394

joseph.mayans@zionsbank.com (801) 844-7887www.zionsbank.com/economy

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A division of ZB, N.A. Member FDIC As of January 9, 2018

ECONOMIC GROWTH IMPROVING Q3 2017 Gross Domestic Product = 3.2%

Source: Bureau of Economic Analysis

INFLATION SLOWLY IMPROVINGNovember 2017: U.S. Consumer Price Index = 2.2%

DEMOGRAPHICSU.S. Population Growth: 2016 - 2017 = 0.7%

CONSUMER CONFIDENCE REMAINS HIGHDecember 2017: U.S. Consumer Confidence Index = 122.1

Source: The Conference Board

• Population Growth Rate: 0.7% (2017: 325,700,000)

• Total Fertility Rate: 1.86 (2013)

• Median Age: 37.9 (2016)

• Household Size: 2.65 (2015)

• Median Household Income: $59,039 (2016)

• Annual Mean Wages & Salaries: $48,320 (2015)

• Per Capita Personal Income: $49,571 (2016)

• Personal Income (% Change): 3.6% (2015-2016)Source: U.S. Census Bureau, Bureau of Economic Analysis, U.S. Bureau of Labor Statistics,

National Center for Health Statistics, statista.com.

QUICK FACTS

Source: U.S. Census Bureau

Sources: Bureau of Labor Statistics