Posted on October 4th, 2016
While the national economic outlook is a mixed bag of growth in some areas and
decline in others, Utah's outlook is on a solid path of growth.
According to a post on utahpolicy.com last week, Utah
continues to lead the nation in unemployment, decreasing from 3.5% in June to
3.2% in July of this year. The national rate continues to hold steady at 4.9%.
Over the last year, Utah has added nearly 49,000 jobs to the economy.
Construction was among the top industries for adding jobs.
Furthermore, according to a recent study conducted by the Kem C. Gardner Policy
Institute, the construction industry in Utah has bounced back from its 20-year
low in 2010. The industry has seen five consecutive years of growth, expanding
to $6.9 billion in 2015. Strong growth in construction typically spills into
several other sectors, indicating a healthy employment outlook for Utah.
Utah's economy is drawing attention, and with it, businesses
and people who all need both commercial and residential space. And Utah's
construction industry is the engine driving this strong growth.
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