Economic Data for Utah

Gross Domestic Product

Real GDP (a measure of economic growth) increased from 2009-2017, growing from $113 billion to $140 billion, above the pre-recession peak of $118 billion.

 

 

Jobs                                                                                                      

Private-sector employers have added 300,000 jobs since 2010, the national low point for private-sector employment. From 2017 to 2018 the private sector added 55,000 new jobs. There were 1,250,000 total jobs in the private sector in 2018, more than 200,000 jobs than before the recession. Average hourly wages in the private sector grew from 2008-2018, going from $20/hr to $25.80/hr.

 

 

Manufacturing employment has recovered from the recession. There were 135,000 jobs in this sector in 2018, slightly above 2008 peaks of 130,000 jobs. Average hourly wages of manufacturing employees increased from 2015-2018, going from $18/hr to $20.50/hr.

 

 

There were 61,000 jobs in the Transportation and Warehousing sector in 2018, 9,000 more than before the recession, showing slight growth in this sector. The average wage in Transportation and Material Moving occupations was $18.50/hr in 2010 and $23/hr in 2018.

 

 

Unemployment

The unemployment rate in 2018 is 3%, slightly below the 3.3% rate in 2017. This is below the national average of 3.9% unemployment.

 

 

Housing

The House Price Index, a measure of the cost of housing, decreased from its 2008 peak until 2012 when it resumed growth. As of 2018 it has significantly exceeded pre-recession peaks, showing increased housing costs (380 in 2008 and 455 in 2018).