EMPLOYMENT QUICK FACTS February 2017

JOBS ADDED: 235,000

EMPLOYMENT GROWTH: 1.6%

UNEMPLOYMENT: 4.7%

Sources: U.S. Bureau of Labor Statistics

EMPLOYMENT CHANGES BY INDUSTRY

February 2016 - February 2017

INDUSTRYGrowth

RateTotal

Change

Natural Resources & Mining -4.2% -30,000

Construction 3.3% 219,000

Manufacturing 0.1% 7,000

Trade, Trans., Utilities 1.0% 278,000

Information -0.5% -14,000

Financial Activity 2.3% 190,000

Professional & Business Services 3.0% 597,000

Education & Health Services 2.4% 546,000

Leisure & Hospitality 2.0% 306,000

Other Services 1.0% 57,000

Government 0.9% 194,000

Source: Bureau of Economic Analysis

UNEMPLOYMENTFebruary 2017

Source: U.S. Bureau of Labor StatisticsNote: Jobs added in thousands

Target Effective Federal Funds Rate (Feb 2017) 0.75%

Prime Rate (Feb 2017) 3.75%

10 Year U.S. Treasury (As of Mar 9, 2017) 2.61%

30 Year Mortgage Rate Fixed (As of Mar 9, 2017) 4.29%

Personal Consumption Expenditures Change (Jan 2016-Jan 2017)

+1.9%

Consumer Price Index Change (Jan 2016-Jan 2017) +2.5%

Producer Price Index (Jan 2016-Jan 2017) +1.7%Sources: U.S. Federal Reserve, Wall Street Journal, Bureau of

Economic Analysis, Bureau of Labor Statistics

YEAR-OVER-YEAR AVERAGE HOURLY WAGE GROWTH

Source: U.S. Bureau of Labor Statistics

+2.8% Feb 2017

2007 - 2016 Average = 2.4%

The United States economy is strengthening and consistent with a mature economic environment. Employment grew by 235,000 jobs in February, a 1.6 percent yearly growth rate. The nation’s unemployment slightly decreased to 4.7 percent in February. Yearly wage growth increased from January 2017 to February 2017 at 2.8 percent. Home prices continued to climb with median home sale prices coming in just over $215K for December 2016. Consumer sentiment improved in February with the Consumer Confidence Index reporting a recent high of 114.8 points, a level indicating economic prosperity. Gross Domestic Product was reported at 1.9 percent for fourth quarter of last year, which was lower than third quarter’s 3.5 percent, but higher than both first and second quarters in 2016.

INTEREST RATES AND INFLATION

77 Months of Jobs Added

Highlights UNITED STATES | MAR 2017

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

deborah.speed@zionsbank.com (801) 844-7887www.zionsbank.com/economy

Content is offered for informational purposes only and should not be construed as tax, legal, financial or business advice. Please contact a professional about your specific needs and advice. Content may contain trademarks or trade names owned by parties who are not affiliated with ZB, N.A. Use of such marks does not imply any any sponsorship by or affiliation with third parties, and ZB, N.A. does not claim any ownership of or make representations about products and services offered under or associated with such marks.

A division of ZB, N.A. Member FDIC As of March 10, 2017

GROSS DOMESTIC PRODUCT 4Q 2016 GDP= 1.9%

Source: American Bankers Association Analysis of Data from Bureau of Economic Analysis

HOUSINGMedian Home Sale Price

Source: Graphiq.com reporting of data from CoreLogic

DEMOGRAPHICSU.S. Population Growth by State: 2015 - 2016

CONSUMER CONFIDENCEU.S. Consumer Confidence Index

Source: The Conference Board

Above 110 indicates economic prosperity

Feb 2017 Consumer Confidence Index: 114.8Jan 2017 to Feb 2017 CCI Change: +3.2 points

• Population Growth Rate: 0.7% (2016: 323,127,513)

• Total Fertility Rate: 1.86 (2013)

• Median Age: 37.8 (2015)

• Household Size: 2.65 (2015)

• Median Household Income: $56,516 (2015)

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

• Per Capita Personal Income: $47,669 (2015)

• Personal Income(% Change): 4.4% (2014-2015)Source: U.S. Census Bureau, Bureau of Economic Analysis, U.S. Bureau of Labor Statistics,

National Center for Health Statistics, statista.com.

QUICK FACTS

$215,000 Dec 2016

Fixed Investment

Inventories Net Exports

Government

Personal Consumption

U.S.: 0.7%

Source: U.S. Census Bureau

1.5% or more

0.7% to 1.4%

0.0% to 0.1%

Population Loss

0.2% to 0.6%