Monday, September 15, 2014

Construction on Richfield Regional Airport almost complete

The grand opening of the new Richfield Regional Airport is scheduled for September 13, 2014. While there are still some buildings to be constructed and stripes to be painted, the majority of the airport expansion and reconstruction project is finished. The $28 million undertaking was completed with the Federal Aviation Administration providing between 90 and 95 percent of the funding. The Richfield Reaper

Thursday, September 4, 2014

Long-Term Employment Projections

The long-term employment projections have been updated for the time period of 2012 to 2022. Projections are produced for the state of Utah as well as for eight sub-state areas. The areas are determined by population and job density and are not created equal. But rather, types of jobs are determined by the nature of the local area’s economy. Short-term projections for 2012 to 2014 are also provided for statewide.

The value in providing these projections is to help identify which types of jobs are most likely to be in high demand in the future. Ultimately, the long-term employment projections act as a forecasting measure by which individuals as well as organizations and agencies can plan ahead.

See the latest long-term projections produced by DWS for the Central Utah area.

Friday, August 29, 2014

A Story of Wage Data

The Wages and Income page has a new look to the wage data that is gathered by the Workforce Research and Analysis division. Along with visualization of the data, you can now read story points at the top of each graph, to help understand what the data is showing you along with highlighting its insights. Just click along the story points at the top of the visualization to follow the story of wages.

Thursday, August 28, 2014

Annual Profiles

The Workforce Research and Analysis division has updated information in the county Annual Profiles.

The information available in these Annual Profiles are separated by county and state and include:
  • quick facts
  • nonfarm employment
  • unemployment
  • major employers
  • population
  • demographics
  • income and wages
  • construction
  • gross taxable sales
  • county rankings
This data is updated on an annual basis, and dates can be found at the bottom of each tab. To print any of the visualizations, see the instructions here. For more information about this data, contact your regional economist.

Tuesday, August 26, 2014

Wayne County Economic Update

Wayne County continued to pull itself out of the employment pit left by the closure of its largest employer. Strong employment gains, contracting joblessness, improving construction and sales all point to an economy that has begun to heal.

With the best performance in Utah, Wayne County’s nonfarm employment skyrocketed by almost 12 percent. Many of the 83 net new jobs could be traced to mining, construction, wholesale trade and healthcare/social services. Partially countering these employment gains, the public sector took a notable job hit.

Sevier County Economic Update

The economy improved somewhat in Sevier County during the first quarter of 2014. Jobs slowly expanded and unemployment edged down. In addition, sales made strong gains. Together, these positive economic signs suggest the economy will continue to strengthen in the months ahead.

Sevier County economy continued to dig itself out of the job losses of 2013 as the year began. Between March 2013 and March 2014, jobs grew by a tepid 1.2 percent. However, the rate of expansion does appear to trend upward. On the job-winning side, professional/business services, retail trade, construction, manufacturing and mining all added significant numbers of new jobs. However, a notable decline in transportation and the public sector counteracted some of the aforementioned gains.

Sanpete County Economic Update

Data for the county presented a muddled economic picture. Jobs continue to contract, but joblessness dropped. Construction permitting slipped, but the residential sector improved. The uptick in sales provided the best news and may signal a healthier upcoming economy.

Sanpete County continued to shed jobs as the new year began. However, the losses do appear to be moderating, suggesting job growth may resume in second quarter. Between March 2013 and March 2014, Sanpete County lost more than 80 nonfarm positions for a decrease of 1.2 percent. Unfortunately, three major industries can take the responsibility for the overall loss: mining, financial activities and the public sector. Fortunately, retail trade and professional/business services generated new jobs which partially offset the losses in other sectors.

Despite the recent employment contraction, the county’s jobless rate continued to shrink. Down more than a full percentage point from July 2013, the July 2014 rate clocked in at 4.7 percent. Here, outmigration along with commuter jobs in other counties helped push down joblessness within the counties borders.

Recently released 2013 construction permitting data provides mixed economic clues. In total, construction values fell 30 percent in 2013. However, the residential building market showed signs of life with the first gains since the recession began. Gross taxable sales returned to the positive side of the ledger with a healthy 5-percent increase between the first quarters of 2013 and 2014.

Piute County Economic Update

Around mid-2013, Piute County seemed to have finally escaped the nonfarm employment freefall that had been its lot since the recession. However, the county has now returned to job loss. Between March 2013 and March 2014, Piute County lost 17 positions for a decline of 7 percent.

The current decline can be traced to the public sector. Local government (which includes public education) accounted for almost all the job loss. On the flip side, no major industry generated any significant employment gains.

Millard County Economic Update

For the most part, Millard County’s economy started 2014 in the moderate zone preferred by most economists. The labor market showed healthy improvement, construction activity picked up and sales grew slightly.

Moderate job growth is a good thing. The county’s job growth ended the first quarter of 2014 with moderate 3-percent year-to-year job growth. With 100 net new jobs, Millard County’s economy expanded nicely over the past 12 months. Strongest employment gains occurred in the information, transportation, manufacturing and health/care social services industries along with the public sector. In other words, growth proved relatively broad-based, which is a positive sign for future growth. The only significant industry-level job loss occurred in retail trade.