- In the final month of 2014, Piute County showed a 9-job, 4-percent year-over gain in nonfarm employment.
- Local government accounted for almost all the county’s additional jobs and offset a notable decline in leisure/hospitality services employment.
- In March 2015, Piute County’s unemployment rate measured 6.4 percent.
- After an uptick in late 2014, joblessness has subsided slightly.
- In the first few months of 2015, Piute County’s initial claims for unemployment insurance followed a low seasonal pattern.
- Between the fourth quarters of 2013 and 2014, Piute County’s gross taxable sales increased by a whopping29 percent.
- Most of the sales improvement resulted from business investment spending and an adjustment for a previous quarter. Nevertheless, retail trade and leisure/hospitality services showed moderate sales increases.
- During 2014, Piute County showed the highest rate of population decline (2.6 percent) in Utah.
- Between 2010 and 2014, Piute County’s population has decreased by more than 70 persons as out-migration continued to plague the area.
Tuesday, April 28, 2015
Piute County Economic Update
An upwelling in public sector employment during fourth quarter 2014 propelled Piute County into positive nonfarm job-growth territory for only the second time since the end of the recession. The additional jobs provide a respite from the almost steady stream of job loss that has afflicted the county over the past several years. However, several quarters of improvement will be necessary to signal a recovering economy. Indeed, joblessness has edged upward during recent months and measures above desirable levels. Strong sales performance provides the best economic news for the county.