The Utah financial dashboard exhibits sturdy {industry} growth

Salt Lake Metropolis — The Salt Lake Chamber’s Roadmap to Prosperity Coalition, in partnership with the Kem C. Gardner Coverage Institute, has up to date the Utah Financial Dashboard for June to assist enterprise leaders know the place Utah’s economic system stands. This instrument offers information on the state’s financial outlook and actionable context for decision-makers.

“The Roadmap to Prosperity dashboard continues to indicate present progress, regardless of considerations of a future decelerate coming into the image,” says Derek Miller, president and CEO of the Salt Lake Chamber. “Whereas our unemployment fee and labor participation proceed to face out, client confidence has taken a dip. This comes as inflation stays excessive and uncertainty continues resulting from provide chain and commodity reserves disruption. Regardless of these nationwide and worldwide headwinds, Utah’s economic system stays sturdy and the Wasatch Entrance continues to drive the financial engine in our state.”

Three important insights from the June 2022 Roadmap to Prosperity Dashboard embody:

  1. Utah’s unemployment ranks second within the nation. Utah’s Might unemployment fee of two.0 % is the second-lowest within the nation, tied with Minnesota and carefully trailing Nebraska.
  2. Utah house costs proceed to rise. Utah’s house costs have risen drastically during the last yr with a median house sale worth of $535,000 in April 2022.
  3. Shopper confidence falls in Utah. With some minor fluctuations, the patron confidence development in Utah has been declining during the last a number of months. Might’s client confidence is the bottom since information assortment started in October 2020.

The Dashboard is up to date month-to-month, offering important insights, monitoring ten well timed and main measures, and sharing pertinent indicators. This offers leaders with essential and well timed info to make knowledgeable selections.

“Utah’s financial efficiency continues to be a brilliant spot within the nation and has stabilized with progress in practically all sectors,” says Natalie Gochnour, director of the Kem C. Gardner Coverage Institute. “Regardless of the drop in client confidence and broader financial circumstances pointing to a slowdown, Utah’s sturdy labor power and diversified economic system go away us favorably positioned to climate the headwinds sweeping the nation.”

To view the Roadmap to Prosperity Dashboard, click on right here.

###

ABOUT THE SALT LAKE CHAMBER

The Salt Lake Chamber is Utah’s largest and longest-serving enterprise affiliation. A statewide chamber of commerce with members in all 29 Utah counties, the Chamber represents the broad pursuits of the state’s 63,000- plus employers, which make use of greater than 1.4 million Utahns. This contains 1000’s of Chamber members and their staff. With roots that date again to 1887, the Chamber stands because the voice of enterprise, helps its members’ success and champions neighborhood prosperity.

ABOUT THE KEM C. GARDNER POLICY INSTITUTE

The Kem C. Gardner Coverage Institute serves Utah by making ready financial, demographic, and public coverage analysis that helps the state prosper. We’re Utah’s demographic specialists, leaders on the Utah economic system, and specialists in public coverage and survey analysis. We’re an trustworthy dealer of INFORMED RESEARCH, which guides INFORMED DISCUSSIONS, and results in INFORMED DECISIONS™. For extra info, please go to gardner.utah.edu or name 801-587-3717.

Utah’s economic dashboard shows strong industry expansion

Previous post TV handyman in a repair over oil leak
Next post Teams again youth monetary training