SALT LAKE CITY (July 19, 2024) — Utah’s nonfarm payroll employment for June 2024 increased an estimated 2.4% across the past 12 months, with the state’s economy adding a cumulative 41,400 jobs since June 2023. Utah’s current job count stands at 1,766,500.

June’s seasonally adjusted unemployment rate is estimated at 3.0%. Approximately 54,300 Utahns are unemployed. Utah’s May unemployment rate is unrevised at 2.9%. The June national unemployment rate increased one-tenth of a percentage point to 4.1%.

“The June numbers show another month of robust jobs growth,” said Ben Crabb, Chief Economist at the Utah Department of Workforce Services. “For the last year, job expansion has been concentrated in construction, private education and health services and the public sector. Public sector hiring is now starting to cool and the unemployment rate, while low, has been slowly ticking upward. With inflation trending in the right direction, an interest rate cut later this year is not out of the question and would stimulate continued job growth in the state.” 

Utah’s June private sector employment recorded a year-over-year expansion of 2.1%, or a 31,300-job increase. Seven of the ten major private-sector industry groups posted net year-over-year job gains. The overall gains are led by education and health services (13,000 jobs), professional and business services (7,900 jobs), and construction (5,700 jobs). Financial activities (-400 jobs), and information (-500 jobs) were the only sectors with year-over-year job losses.

###