While not in perfect alignment, the county’s other economic indicators point to a healthier economy. Read below for a few highlights.
- Recently released jobs data show slower growth. Between March 2012 and March 2013, the county showed a net gain of almost 60 jobs—up 1.5 percent.
- Employment gains proved particularly strong in business services and manufacturing.
- On the other hand, wholesale trade, leisure/hospitality services, and the public sector showed notable net losses in payroll jobs.
- As in most Utah counties, joblessness continued to gradually decline. As of June 2013, Millard County’s unemployment rate measured 4.5 percent.
- Millard County’s jobless ratio registers below the statewide average of 4.7 percent—an unusual condition for a nonurban county.
- First-time claims for unemployment insurance continued at a low summer level—generally below figures for the last several years.
- Despite strong job gains, the professional/business service industry showed the highest number of initial claims year-to-date. Keep in mind that this industry does include temporary employment services.
- Residential construction permitting started the year on the right foot. For the first quarter of 2013, the number of new home permits approved is up by 25 percent.
- New nonresidential permit values are down somewhat compared to last year. However, the year has barely begun and values can change rapidly in this volatile indicator.
- Gross taxable sales took a nice uptick when the first quarters of 2012 and 2013 are compared. This marks only the third straight quarter of improving sales figures.
- In contrast, the number of new cars and light trucks slipped slightly in the first quarter of 2013—especially when compared to vigorous gain in the fourth quarter of 2012.
