- Between June 2014 and June 2015, Piute County’s nonfarm employment expanded by more than 12 percent, adding almost 30 positions.
- Retail trade and local government (including the school district) can take credit for most of the new jobs.
- The county has avoided net job losses for almost three straight quarters.
- Piute County’s September 2015 unemployment rate ticked down to 6.0 percent compared to 6.8 percent in September 2014.
- Despite the decline, the area’s unemployment rate measures higher than both state and national averages.
- First-time claims remain low in the autumn months suggesting unemployment may continue to contract.
- Piute County’s average monthly wage has shown only slight improvement over the past year.
- Gross taxable sales continued to contract in the second quarter of 2015.
- On a year-to-year basis, sales declined by more than 7 percent.
- Retail sales improved, but a net reduction in business investment expenditures coupled with a decrease in food service sales and a prior period adjustment kept year-over sales comparisons in negative territory.
Thursday, October 22, 2015
Piute County Economic Update
Piute County’s nonfarm job performance went from rags to riches in second quarter 2015. However, the county must produce a consistent level of employment growth in a number of sectors in order to find its way to solid economic ground. Piute County’s jobless rate has edged downward since the beginning of the year and first-time claims for unemployment insurance have held at a low level as summer turned to autumn. Countering the better jobs news, sales continued to contract.