highlights utah | jun 2017 - zions bank · 2020. 9. 4. · april 2016—april 2017 source: utah...
TRANSCRIPT
UNITED STATES EMPLOYMENT FACTS May 2017
JOBS ADDED: 138,000
EMPLOYMENT GROWTH: 1.6%
UNEMPLOYMENT: 4.3%
Sources: U.S. Bureau of Labor Statistics
EMPLOYMENT GROWTH BY COUNTYApril 2016—April 2017
Source: Utah Department of Workforce Services; Not Seasonally Adjusted, Nonfarm
U.S. GROSS DOMESTIC PRODUCTChange in U.S. Gross Domestic Product
Q2 2016 Q3 2016 Q4 2016 Q1 2017
1.4% 3.5% 2.1% 1.2%
Source: Bureau of Economic Analysis
UTAH CONSTRUCTION SECTOR EMPLOYMENTApril 2017
96,000jobs in
Apr. 2017
105,700 jobs in
Feb. 2007
UTAH EMPLOYMENT CHANGES BY INDUSTRY
April 2016 - April 2017
INDUSTRYGrowth
RateTotal
Change
Natural Resources & Mining -9.2% -800
Construction 3.1% 2,800
Manufacturing 3.0% 3,700
Trade, Trans., Utilities 4.0% 10,700
Information -0.8% -300
Financial Activity 1.6% 1,300
Professional & Business Services 4.6% 9,200
Education & Health Services 3.9% 7,500
Leisure & Hospitality 4.2% 5,800
Other Services 3.6% 1,400
Government 2.2% 5,400
TOTAL 46,700
Source: Utah Department of Workforce Services
Utah posted another solid month of labor market gains in April. The state’s unemployment rate held steady at 3.1 percent and annual employment growth improved to 3.3 percent, up from 3.2 percent in March. The Utah Consumer Attitude Index continues to reflect the state’s solid economic position, with a May reading of 111.9. The March median home price in Utah registered at $282,139, up from $268,850 the month before. The ongoing labor shortage of construction workers and the state’s low housing inventory remains a significant contributor to rising home values. This can be seen in the Utah Home Price Index, which rose by 9.9 percent in March from the year before, besting the national average of 7.1 percent.
Highlights
Source: U.S. Bureau of Labor StatisticsNote: Shaded area represents recession defined by the National Bureau of Economic Research
UTAH | JUN 2017
ROBERT SPENDLOVEEconomic and Public Policy Officer
Contact our team for more information or to schedule a speaking engagement.
[email protected] (801) 560-5394
[email protected] (801) 844-7887www.zionsbank.com/economy
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A division of ZB, N.A. Member FDIC As of June 5, 2017
UTAH United States
$282,139MEDIAN HOME PRICE
(Mar 2017)$219,900
9.9% increase HOME PRICE INDEX (Mar 2016 - Mar 2017)
7.1% increase
0.06% FORECLOSURE RATE
(Apr 2017)0.06%
Sources: Home prices and indexes from CoreLogic. Foreclosure rates from RealtyTrac.com.
DEMOGRAPHICSUtah Population and Components of Change
Sources: Utah Governor’s Office of Management and Budget, U.S. Census BureauNote: Left axis = total population; Right axis = components of population change
CONSUMER CONFIDENCEU.S. Consumer Confidence Index vs. Utah Consumer Attitude Index
Sources: U.S. CCI from The Conference Board and UT CAI from Cicero Group for Zions Bank Wasatch Front CPI from Ciscero Group for Zions Bank
• Median Household Income: $66,258 (2015) 10th
• Annual Mean Wages & Salaries: $44,130 (2015) 28th
• Per Capita Personal Income: $40,744 (2016) 41st
• Personal Income (% Change): 5.6% (2015-2016) 2nd
• Population Growth Rate: 2.0% (2016: 3,051,217) 1st
• Total Fertility Rate: 2.33 (2013) 1st
• Median Age: 30.6 (2015) 1st
• Household Size: 3.17 (2015) 1stSources: U.S. Census Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, National Center for Health Statistics, statista.com. Notes: 1. Ranking are based on the most recent data for all states and may differ from other data. 2. Rank is most favorable to least favorable.
STATE FACTS (VALUE & RANK)
U.S.: 0.7%; Utah: 2.0%; Rank: 1st
Source: U.S. Census Bureau
Total Population Natural Increase Net Migration
CONSUMER PRICE INDEXU.S. vs. Wasatch Front Consumer Price Index: Year-Over Change
Sources: U.S. CPI from National Bureau of Labor Statistics and Wasatch Front CPI from Ciscero Group for Zions Bank
Utah Population Growth: 2015 - 2016
HOUSINGHome Prices and Foreclosures