Although like most rural counties, Millard County’s rate of job growth rarely follows a straight-line trajectory, the county has consistently added new jobs over the past two years. This impressive track record continued as 2014 came to a close. The county’s relatively moderate employment expansion has proved sufficient to drive down joblessness to a very low level. In addition, both sales and construction showed strong performances. Overall, the economy remains healthier than most of its rural neighbors.
Between December 2013 and December 2014, Millard County added more than 70 new nonfarm jobs for a growth rate of roughly 2 percent.
Additionally, 20-plus jobs were added in covered agriculture (not included in the total).
Growth appeared relatively broad-based with trade, information, private education/health services and leisure/hospitality services generating notable numbers of new positions.
Construction, manufacturing and other services contracted somewhat.
Millard County’s jobless rate remains low at 3.3 percent in March 2015.
The county’s unemployment rate measures below the state rate, an unusual situation for a rural county.
First-time claims for unemployment insurance did show an unusual construction related uptick in March 2015.
During 2014, construction permitting appeared on a strong footing with a notable increase in dwelling unit permits and new nonresidential construction.
Approved permit values in 2014 registered 24-percent higher than in 2013.
An unusually large prior-period adjustment resulted in a stunning 34-percent increase in gross taxable sales between the fourth quarters of 2013 and 2014.
Retail trade sales and a large upsurge in business investment expenditures also contributed to the overall gain in sales.
Fourth-quarter new car and truck sales dropped 18 percent in comparison with year-ago figures.
According to the Census Bureau estimates, Millard County’s population declined by roughly 20 persons during 2014.
However, since 2010, the county’s overall population has increased somewhat despite net out-migration.
