Carbon County records expanding employment
Carbon County's economy continued to create expanding employment opportunities in July.
The latest Utah Department of Workforce Services data indicate Carbon recorded 9,224 labor market positions last month, representing a 0.9 percent growth rate compared to the 9,145 non-farm wage and salaried jobs reported by the county in July 2006.
At the district level, the southeastern region posted a 2.6 employment expansion rate last month. Participation in Emery's labor market inched up 0.1 percent, San Juan's climbed 3.4 percent and Grand's increased 6.9 percent during the 12-month period between July 2006 and July 2007.
At the state level, Utah's number of non-farm wage and salaried jobs gained strength in July, rising 4.7 percent.
Approximately 56,800 jobs have been created statewide in the past 10 months, raising total wage and salary employment in Utah to 1,253,100. The increase translates to approximately 4,700 positions created monthly.
"Utah's employment growth continues to noticeably outdistance all other states. The common question I'm asked lately is, why? It's a combination of trend and luck. The trend is long-term population growth. We birth many children in Utah, but current in-migration into our relatively underpopulated, but enticing part of the country is noticeably driving the economy," commented Mark Knold, DWS economist. "A cycle forms of population growth fueling a vibrant economy which, in turn, attracts more population growth"
"The luck comes in having, so far, avoided any economic pitfalls that might knock us out of this cycle," explained Knold. "What we dodged, in particular, are the mistakes made in other parts of the nation during the recent housing boom, whose bust consequences are now afflicting the national economy. Look to Nevada and Arizona to view its effects."
"Utah isn't overbuilt and the non-residential building sector is booming, picking up any slack coming from our slowing residential sector," noted the DWS economist. "This non-residential boom builds new businesses which, in turn, create new jobs when those businesses open. We seem to be entrenched in this cycle, and there doesn't appear any clouds on the horizon."
Utah's second primary indicator of labor market conditions, the unemployment rate, measured 2.7 percent for July, down from 2.9 percent joblessness registered in July 2006. Approximately 36,000
Utahns were unemployed in July 2007 compared to 38,300 last year.
At the national level, the United States' unemployment rate climbed slightly to 4.6 percent in July. Since July 2006, the U.S. economy has added 1.8 million jobs for a 1.3 percent growth rate.
The approximately 56,800 labor market positions created in Utah represent about 3.2 percent of all the jobs added nationwide in the past year. Utah comprises less than 1 percent of all jobs in the U.S.
All industrial sectors keep growing in Utah. Construction continues to lead in employment growth, while the trade sector continues to accelerate in its job count. Trade may overtake construction later in the year. All other sectors are jobs and the growth is widespread across the state.
All of Utah's 29 counties recorded employment gains in the past year, concluded the department of workforce services.