- Between December 2013 and December 2014, Sanpete County created 245 net new jobs for a growth rate of more than 3 percent.
- Manufacturing and government generated the largest number of new positions with significant assistance from construction, retail trade, professional/business services and leisure/hospitality services.
- Three industries – mining, healthcare, transportation – did experience notable employment declines.
- Joblessness in Sanpete County continued to trend downward to register at 3.9 percent in March 2015.
- Currently, unemployment in Sanpete County registers at the lowest level in six years.
- In the first few months of 2015, first-time claims for unemployment insurance remained in an abbreviated seasonal pattern.
- Sanpete County’s gross taxable sales increased by almost 12 percent between the fourth quarters of 2013 and 2014.
- Strong sales in the business investment category provided a boost along with retail sales gains.
- New car and truck sales decreased slightly (5 percent) between the fourth quarters of 2013 and 2014.
- Construction permitting apparently slowed dramatically in 2014.
- New residential and nonresidential values dropped decidedly when compared to 2013.
- With a slight 0.8-percent increase in 2014 population, only Sanpete County experienced a population gain among the counties of central Utah.
- However, even in Sanpete County, roughly 300 more residents have left the county than have moved to it since 2010.
Tuesday, April 28, 2015
Sanpete County Economic Update
Sanpete County ended the year with a nice, moderate job gain. After losing jobs for roughly a year, the county seems to have regained its employment footing in mid-2014. Industry gains appear fairly broad-based and sufficient to keep unemployment on a downward path. In addition, unemployment insurance claims remain low and sales strong. The only blot on this otherwise healthy economic portrait is a notable slowdown in construction permitting.